UPDATE 3-Pentair sees weaker-than-expected Q4, stock falls

* Sees Q4 EPS $0.42-$0.47, below $0.50 consensus

* Blames rising costs

* Q3 EPS $0.55/shr vs $0.52 Wall St consensus

* Revenue up 16.8 pct

* Shares down nearly 4 pct
(Rewrites with quarterly outlook miss, stock drop)

BOSTON, Oct 26 (BestGrowthStock) – Diversified U.S. manufacturer
Pentair Inc (PNR.N: ) set a fourth-quarter profit (Read more your timing to make a profit.) target below
Wall Street’s expectations on Tuesday, overshadowing
better-than-expected third quarter results and sending its
shares down nearly 4 percent.

The maker of filter systems used by industry and in
swimming pools said it expects to earn 42 cents per share to 47
cents per share in the fourth quarter, a range that could
represent as much as an 11 percent drop in earnings.

Analysts had anticipated fourth-quarter profit (Read more your timing to make a profit.) of 50 cents
per share, according to Thomson Reuters I/B/E/S.

The Minneapolis-based company blamed the
lower-than-expected outlook on rising costs, including higher
raw material costs, a higher tax rate and the resumption of
some employee benefits that had been suspended during the
recession. Fewer selling days will also weigh overall revenues,
it said.

Pentair shares were down 3.8 percent at $34.12 on the New
York Stock Exchange

The fourth-quarter outlook overshadowed third-quarter
earnings that rose 49 percent to $55.1 million, or 55 cents per
share, from $36.9 million, or 38 cents per share, a year
earlier.

Analysts on average had expected a profit of 52 cents per
share, according to Thomson Reuters I/B/E/S.

Revenue rose 16.8 percent to $773.7 million, also topping
Wall Street’s forecast of $742.7 million.

Shares of fellow industrial company Crane Co (CR.N: ) fell
1.6 percent to $39.80 the morning after it reported profit that
beat Wall Street’s expectations thanks to gains related to unit
sales and a lower tax rate and notched revenue slightly below
analysts’ expectations. [ID:nN25266321]

As of Monday’s close, Pentair shares were up about 6.5
percent so far this year, lagging the 14.6 percent rise of the
Standard & Poor’s capital goods industry index (.GSPIC: ). Crane
was up 29.7 percent over the same time.
(Reporting by Scott Malone, editing by Gerald E. McCormick and
Lisa Von Ahn)

UPDATE 3-Pentair sees weaker-than-expected Q4, stock falls