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Pentair (PNR) Issues 2013 Earnings, Sales Forecast; Backs Q4 Outlook

 November 27, 2012 07:54 AM
 


(By Balachander) Pentair Ltd. (NYSE: PNR) forecasts adjusted earnings per share (EPS) from continuing operations of $3.10 to $3.30 for 2013 on sales of roughly $7.7 billion.

Wall Street analysts, on average, expect PNR to earn $3.25 per share on sales of $7.92 billion for 2013.

The Switzerland-based company's sales forecast for 2013 includes low single-digit organic growth.

Pentair expects 2013 GAAP EPS of $2.58 to $2.78, which includes anticipated inventory step-up and backlog amortization related to the merger with Tyco's Flow Control business.

For the fourth quarter of 2012, Pentair continues to expects adjusted EPS of $0.40 to $0.45, while analysts' expect $0.45. It still sees a GAAP loss per share of 17 cents to 22 cents.

[Related -Jobs Growth Tepid At Best]

For 2012, the company backed its adjusted EPS guidance in the range of $2.30 to $2.35, while analysts' expect $2.43. GAAP EPS is still seen at $0.92 to $0.97. 

Further, the company said it plans to provide details on the foundation of the company's 2015 EPS goal of $5.00.

Pentair offers services for water and other fluids, thermal management, and equipment protection.

The stock, which has been trading in the 52-week range of $40.30 to $47.89, ended at $47.80 on Monday.  

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