MANCHESTER, United Kingdom – MANCHESTER, United Kingdom (AP) _ Pentair PLC (PNR) on Wednesday reported second-quarter net income of $41.5 million.
The Manchester, United Kingdom-based company said it had profit of 23 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 71 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The diversified industrial manufacturer posted revenue of $780.6 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $787.5 million.
Pentair expects full-year earnings to be $2.31 per share.
Pentair shares have decreased 37 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5.5 percent. The stock has dropped 32 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on PNR at https://www.zacks.com/ap/PNR
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