On Thursday, Pentair plc. Ordinary Share(NYSE:PNR)’s shares inclined 3.17% to $55.67.
Pentair plc (PNR) declared third quarter 2015 sales of $1.6 billion. Sales were down 12 percent contrast to sales for the same period last year. Adjusted third quarter 2015 earnings per diluted share from ongoing operations (“EPS”) were $0.97, down 13 percent from adjusted EPS of $1.11 in the third quarter of last year. On a GAAP basis, the company stated EPS of $0.63 contrast to EPS of $1.00 in the third quarter of 2014. Amounts excluded from adjusted EPS, adjusted net income, adjusted operating income and segment income are described in the attached plans.
Third quarter 2015 adjusted operating income was $249 million, down 16 percent contrast to the same period last year, and adjusted operating margins were 16.1 percent, a decline of 70 basis points when contrast to adjusted third quarter 2014 operating margins.
Free cash flow in the quarter was $176 million and was $327 million for the first nine months of 2015. The company anticipates to deliver full year free cash flow equal to about 100 percent of adjusted net income.
Pentair plc operates as a diversified industrial manufacturing company in the United States, Europe, and internationally. The company operates through Valves & Controls, Technical Solutions, Flow & Filtration Solutions, and Water Quality Systems segments. It designs, manufactures, markets, and services valves, fittings, automation and controls, and actuators, in addition to provides engineering, design, inspection, maintenance, and repair services.
Allegheny Technologies Incorporated (NYSE:ATI)’s shares gained 4.11% to $14.17.
Allegheny Technologies Incorporated (ATI) stated third quarter 2015 sales of $833 million and a net loss attributable to ATI of $145 million, or $(1.35) per share, in line with preceding guidance offered on October 6, 2015. Not Taking Into Account the non-cash charges for NRV inventory reserves and income tax valuation allowances, the net loss attributable to ATI was $31 million, or $(0.29) per share.
Sales declined 19% contrast to the second quarter 2015, when ATI stated a net loss of $16 million, or $(0.15) per share.
Total segment operating results were a loss of $73 million. As formerly declared, in the 2015 third quarter ATI changed the method of determining segment operating results to better reflect performance. Comparative results for preceding periods also reflect this reporting change. Segment results now exclude all effects of LIFO inventory accounting and any related changes in NRV reserves presently required to offset ATI’s aggregate net debit LIFO valuation balance. This unusual situation of a LIFO balance that enhances inventory value over replacement cost has developed over the past several years due to noteworthy declines in most raw material values.
Allegheny Technologies Incorporated produces and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials and Components; and Flat-Rolled Products.
At the end of Thursday’s trade, Werner Enterprises, Inc. (NASDAQ:WERN)‘s shares dipped -3.62% to $26.61.
Werner Enterprises, Inc. (WERN) , stated revenues and earnings for the third quarter ended September 30, 2015.
Average revenues per tractor per week, net of fuel surcharge, raised 2.1% in third quarter 2015 contrast to third quarter 2014. Third quarter 2014 average revenues per tractor per week were 7.4% higher than third quarter 2013. Our continued focus on securing driver friendly, highly productive freight and improved freight selection using our proprietary freight optimization system enabled us to essentially maintain our average miles per truck in a freight market that is not as stellar as third quarter 2014. Our average miles per truck declined slightly by 0.7% in third quarter 2015 contrast to third quarter 2014.
Constrained truck capacity combined with a gradually improving economy in the retail, consumer products and grocery products markets primarily served by us are contributing to freight demand trends. Truckload industry capacity is challenged by an extremely competitive driver recruiting market and heightened regulatory cost enhances for safety and truck ownership. We expect this favorable trend will continue. There are numerous pending and projected federal safety initiatives that could further limit truckload and driver capacity in the next few years, counting mandatory electronic logging devices (ELD’s), a national drug and alcohol driver database, raised minimum liability insurance requirements for carriers, more sophisticated drug screening procedures for drivers and mandatory truck speed limiter devices. It is predictable that the final rule for ELD’s will be issued in fourth quarter 2015.
Werner Enterprises, Inc., a transportation and logistics company, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce. The company operates in two segments, Truckload Transportation Services and Value Added Services.
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