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Pentair profit misses consensus by 33.0% in Q3

Pentair Plc said its normalized net income for the third quarter amounted to 63 cents per share, compared with the S&P Capital IQ consensus estimate of 93 cents per share.

EPS increased 16.9% year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.7 million, an increase of 16.9% from $98.1 million in the prior-year period.

The normalized profit margin climbed to 9.3% from 8.1% in the year-earlier period.

Total revenue increased year over year to $1.23 billion from $1.21 billion, and total operating expenses totaled $1.03 billion, compared with $1.02 billion in the year-earlier period.

Reported net income increased 7.8% on an annual basis to $126.6 million, or 69 cents per share, from $117.5 million, or 64 cents per share.