(Adds Outlook)
Looking ahead, for the second-quarter, Pentair Plc (PNR) expects earnings line with estimates.
For the full year, it updated net earnings outlook to $3.76 to $3.86 per share.
Excluding items, for the second-quarter, the company expects adjusted earnings per share of around $1.15 to $1.17, in line with analysts' estimates of $1.16 per share.
Net EPS from continuing operations is projected to be around $1.08 to $1.10, for the quarter.
Pentair sees second-quarter sales to be up around 1 percent to 2 percent from previous year quarter.
For the full year, the firm reiterated its adjusted EPS outlook of around $4.15 to $4.25, in line with analysts' estimate of $4.20.
Pentair anticipates full-year sales to increase 2 percent to 3 percent.
PNR was trading up by 2.32 percent at $81.04 in the pre-market trade on the New York Stock Exchange.
Q1 Results:
Pentair plc (PNR) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $133.3 million, or $0.80 per share. This compares with $129.7 million, or $0.79 per share, in last year's first quarter.
Excluding items, Pentair plc reported adjusted earnings of $0.94 per share for the period.
Analysts on average had expected the company to earn $0.9 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 1.1% to $1.017 billion from $1.028 billion last year.
Pentair plc earnings at a glance (GAAP) :
-Earnings (Q1): $133.3 Mln. vs. $129.7 Mln. last year.
-EPS (Q1): $0.80 vs. $0.79 last year.
-Revenue (Q1): $1.017 Bln vs. $1.028 Bln last year.
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