Pentair Posts Profit In Q4; Backs FY14 Forecast - Quick Facts

(RTTNews) - Pentair Ltd.(PNR), a manufacturer of water filters, pump systems, pool accessories, reported Tuesday that its fourth-quarter net earnings attributable to the company was $158.2 million, compared to loss of $273.1 million last year.

Earnings per share were $0.78, compared to loss of $1.31 per share a year ago.

Adjusted earnings, which excluded items, were $0.86 per share, compared to last year's adjusted pro forma earnings per share of $0.53.

On average, 20 analysts polled by Thomson Reuters expected earnings of $0.85 per share for the quarter. Analysts' estimates typically excluded special items.

Quarterly sales were $1.92 billion, higher than last year's $1.75 billion. Analysts expected revenues of $1.81 billion. The company said its sales advanced 10 percent compared to adjusted pro forma sales last year.

Randall Hogan, Pentair Chairman and Chief Executive Officer, said, "The power of the Pentair Integrated Management System in delivering superior results through the first full year after our merger was clearly demonstrated, and we now look forward to year two of the 'new' Pentair."

Looking ahead for the first quarter, the company expects earnings per share of $0.70 - $0.73, up approximately 23 percent on an adjusted basis. First-quarter revenue is estimated to be approximately $1.8 billion, which is up slightly compared to last year.

Analysts expect first-quarter earnings of $0.77 per share on revenues of $1.83 billion.

Further, the company affirmed its full year 2014 earnings per share outlook of $3.85 - $4.00. On an adjusted basis, this would represent an increase of 22 percent over 2013 adjusted EPS of $3.21.

The company anticipates full year 2014 sales of $7.7 billion, or up approximately 3 to 5 percent over 2013 sales.

Analysts expect full-year earnings of $3.96 per share on revenues of $7.70 billion.

Hogan added, "Our performance this year, including our ability to over deliver on integration synergies, increases our confidence in delivering on our $5.00 EPS goal in 2015."