Pentair Falls Most Since July After Lower Quarterly Forecast (1)

(Bloomberg) — Pentair Plc, a water and filtration-system
provider, tumbled the most in three months after saying it
expects first-quarter revenue to be lower than it estimated on
slowed orders and a stronger dollar.

Pentair slid 3.5 percent to $62.21 at the close in New
York, the most since Jan. 5. Earlier, the shares declined as
much as 5.5 percent, the most since July 31.

Pentair said it’s expecting revenue of about $1.48 billion,
compared with an earlier estimate of $1.6 billion, the
Manchester, U.K.-based company said in a statement Tuesday.
Revenue is curbed because of a stronger dollar and shipment
slowdowns linked to the oil and natural gas industries, it said.

“The year has started even slower than we anticipated,”
Chief Executive Officer Randall J. Hogan said in the statement.

Pentair reports first-quarter earnings before the start of
regular trading in New York on April 21.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Randall Hackley at
rhackley@bloomberg.net
Robin Saponar

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