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Pentair profit misses consensus by 32.0% in Q2

Pentair Plc said its second-quarter normalized net income came to 68 cents per share, compared with the S&P Capital IQ consensus estimate of $1.00 per share.

EPS increased 10.3% year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $125.4 million, a gain of 10.8% from $113.3 million in the prior-year period.

The normalized profit margin increased to 9.9% from 8.7% in the year-earlier period.

Total revenue declined on an annual basis to $1.27 billion from $1.30 billion, and total operating expenses declined year over year to $1.04 billion from $1.09 billion.

Reported net income fell 49.1% from the prior-year period to $68.0 million, or 37 cents per share, from $133.6 million, or 73 cents per share.