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Pentair profit misses consensus by 31.5% in Q4

Pentair Plc said its fourth-quarter normalized net income came to 50 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

EPS declined 25.7% year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $91.9 million, a decrease of 25.3% from $123.1 million in the prior-year period.

The normalized profit margin fell to 7.7% from 9.5% in the year-earlier period.

Total revenue fell 7.8% on an annual basis to $1.19 billion from $1.29 billion, and total operating expenses fell on an annual basis to $1.01 billion from $1.06 billion.

Reported net income rose 7.6% from the prior-year period to $110.0 million, or 60 cents per share, from $102.3 million, or 56 cents per share.

For the year, the company's normalized net income totaled $2.06 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.00.

EPS rose from $2.03 in the prior year.

Normalized net income was $376.7 million, an increase from $370.4 million in the prior year.

Full-year total revenue grew from the prior-year period to $4.89 billion from $4.62 billion, and total operating expenses grew year over year to $4.15 billion from $3.92 billion.

The company said reported net income increased on an annual basis to $452.3 million, or $2.47 per share, in the full year, from $396.2 million, or $2.17 per share.