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Pentair profit misses consensus by 19.2% in fiscal Q2

Pentair Plc said its normalized net income for the fiscal second quarter ended June 27 came to 77 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS fell year over year from 78 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $139.9 million, a decline of 8.4% from $152.7 million in the year-earlier period.

The normalized profit margin rose to 9.5% from 8.3% in the year-earlier period.

Total revenue declined 9.4% on an annual basis to $1.66 billion from $1.83 billion, and total operating expenses decreased 9.7% on an annual basis to $1.42 billion from $1.57 billion.

Reported net income declined on an annual basis to $153.1 million, or 84 cents per share, from $159.1 million, or 81 cents per share.