Morningstar

Morningstar, Inc.

Equity Bottom-Up

Narrow-moat Pentair announced that first-quarter sales declined 6% year over year while adjusted earnings of $0.43 per share fell well short of previously issued guidance of $0.52-$0.55 per share. Despite disappointing results, we maintain our $43 per share fair value estimate as management warned in a preliminary first-quarter earnings release on April 9 that earnings would miss consensus. As such, our fair value estimate already included revised top- and bottom-line near-term projections, as…

After Pentair divested its electrical business, nVent, in May 2018, the remaining entity, which retained the Pentair name, is a global leader in the water treatment industry. Pentair’s water business is now organized into three segments: aquatic systems, filtration solutions, and flow technologies.Aquatic systems, roughly 35% of 2018 revenue, is the crown jewel in Pentair’s portfolio, as it is both the fastest-growing and most profitable segment. Aquatic systems offers a full line of…

We are lowering our fair value estimate for narrow-moat Pentair to $43 from $44 per share after the firm issued preliminary first-quarter 2019 results, warning that earnings will fall short of consensus estimates. The company now expects first-quarter revenue of $689 million (a 6% year-over-year decline) and adjusted earnings of $0.43 per share (well below the previously issued guidance range of $0.52-$0.55 per share)
Management blamed the disappointing results on adverse weather conditions,…

United States

Pentair PLC delivers services and solutions for its customer's diverse needs in water and other fluids, thermal management and equipment protection. The Company is organized as three operating segments: Water & Fluid Solutions; Valves & Controls; and Technical Solutions. Pentair manufactures and distributes its products worldwide.

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