Notable Earnings: Pentair, Coach and Air Products & Chemicals

Notable Earnings: Pentair, Coach and Air Products & Chemicals

Pentair, Inc. (NYSE:PNR) reported a higher-than-estimated first-quarter profit on increased revenue. The company reported net income of $60.8 million, or 61 cents a share, up from a year ago profit of $50.5 million, or 51 cents a share. On an adjusted basis, the company earned 52 cents a share, missing its own estimates of 53-57 cents a share. Revenue during the quarter grew 8.60% to $858 million, below analysts’ estimates of $899 million.

The company lifted its full-year outlook by 2 cents to $2.65 to $2.80 but lowered its sales view, projecting about $3.7 billion, versus its prior view for about $3.7 billion to $3.8 billion. For the second quarter, the company projects to earn 79 cents to 82 cents a share on sales of $965 million to $980 million, in line with estimates of 79 cents on revenue of $980 million.

Coach, Inc. (NYSE:COH) shares slid 2.82% to $73 in the pre-market session as the company posted a lower-than-estimated third-quarter earnings. The company earned $225 million, or 77 cents a share, compared to a year ago profit of $186 million, or 62 cents a share. On an adjusted basis, the company earned 62 cents a share, missing analysts’ estimates by 13 cents. Sales jumped 17% to $1.11 billion, in line with analysts’ forecast. Gross margin expended to 73.8% from 72.8%. Moreover, the company raised its dividend 33%.

Air Products & Chemicals, Inc. (NYSE:APD) shares fell over 1.50% in the pre-market session after the company a fall in its second-quarter profit due to weak economic conditions in Europe. The company earned $296 million, or $1.38 a share, down from a year ago profit of $304.3 million, or $1.39 a share. Revenue slid 2.5% to $2.34 billion. Analysts were estimating the company to report $1.33 a share on revenue of $2.43 billion.