Pentair plc PNR delivered third-quarter 2018 adjusted earnings of 54 cents per share, up around 10% from the year-ago quarter’s tally. Also, the figure beat management’s previous guidance and the Zacks Consensus Estimate of 52 cents. Including one-time items, the company reported earnings of 52 cents compared with 27 cents in the year-ago quarter.Net sales rose 3% year over year to $711 million. The figure surpassed the Zacks Consensus Estimate of $700 million. Excluding the impact of currency translation and acquisitions, core sales improved 6%.Pentair plc Price, Consensus and EPS Surprise Pentair plc Price, Consensus and EPS Surprise | Pentair plc QuoteCost of sales climbed 3.7% to $468 million from $451 million in the year-ago quarter. Gross profit in the reported quarter was $244 million, up 3.1% from $237million in the prior-year quarter. Selling, general and administrative expenses amounted to $116 million, flat compared with the year-ago quarter. Research and development expenses went up 7% year over year to $19 million. Adjusted segment operating income increased 1% to $122 million from $120 million in the year-ago quarter. Segmental PerformanceSales in the Aquatic Systems segment rose 10% year over year to $233 million. Operating earnings increased 13% to $60 million.Revenues in the Filtration Solutions segment totaled $240 million, down 1% from the prior-year quarter’s figure. Operating earnings went down 5% year over year to $38 million.Revenues in the Flow Technologies segment totaled $238 million, up 2% from the year-earlier quarter’s tally. Segmental operating earnings declined 7% year over year to $37 million.Financial UpdatePentair had cash and cash equivalents of $64.7 million as of Sep 30, 2018, down from $81.3 million recorded as of Sep 30, 2017. The company recorded cash flow from operations of $299 million during the nine-month period ended Sep 30, 2018, compared with $148 million recorded in the comparable period last year.GuidancePentair revised 2018 adjusted earnings per share (EPS) guidance to around $2.33 (up from previous expectation of roughly $2.31) and sales outlook to $2.96 billion (up from $2.95 billion). Revenues are now expected to be up 4% and 5% on a reported and core basis over 2017, respectively.Pentair initiated fourth-quarter 2018 adjusted earnings per share guidance of roughly 59 cents. Sales are expected to be around $736 million, up 1-2% on a reported basis and up 4-5% on a core basis compared with fourth-quarter 2017. The projections reflect the separation of its Electrical business, on Apr 30, 2018.Price PerformancePentair has underperformed the industry it belongs to in the past year. The stock has lost 46.1% compared with the industry’s 13.6% decline. Zacks Rank & Key PicksPentair currently carries a Zacks Rank #4 (Sell).A few better-ranked stocks in the same sector include Atkore International Group Inc. ATKR, Donaldson Company, Inc. DCI and Enersys ENS. All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Atkore International has a long-term earnings growth rate of 10%. The stock has gained 13.2% in a year’s time.Donaldson has a long-term earnings growth rate of 11.5%. Its shares have moved up 9.5% in the past year.Enersys has a long-term earnings growth rate of 10%. The company’s shares have gained 12.1% in the past year.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.See Them Free>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Atkore International Group Inc. (ATKR): Free Stock Analysis Report Pentair plc (PNR): Free Stock Analysis Report Donaldson Company, Inc. (DCI): Free Stock Analysis Report Enersys (ENS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research