Pentair Reports Strong Second Quarter 2025 Results
-
Sales of
$1.1 billion , up 2 percent compared to sales for the same period last year -
Operating income was
$218 million with ROS of 19.4 percent; on an adjusted basis, operating income was$297 million with ROS of 26.4 percent -
GAAP EPS was
$0.90 and adjusted EPS was$1.39 -
Net cash provided by operating activities of continuing operations was
$607 million , an increase of$68 million compared to the same period last year, and free cash flow provided by continuing operations for the quarter was$596 million , an increase of$74 million compared to the same period last year -
Repurchased
$75 million of ordinary shares -
The company updated its full year 2025 GAAP EPS guidance to approximately
$3.95 to$4.05 , up 6 percent to 8 percent versus the prior year, and increased EPS guidance on an adjusted basis of approximately$4.75 to$4.85 , up 10 percent to 12 percent versus the prior year
Reconciliations of GAAP to Non-GAAP measures are in the attached financial tables.
Second quarter 2025 operating income was
Flow sales were flat compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales declined 1 percent in the second quarter. Reportable segment income of
Water Solutions sales were down 4 percent compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales declined 3 percent in the second quarter. Reportable segment income of
Pool sales were up 9 percent compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 7 percent in the second quarter. Reportable segment income of
Net cash provided by operating activities of continuing operations was
During the second quarter, the Company repurchased 0.7 million shares for
OUTLOOK
The Company updated its estimated 2025 GAAP EPS from continuing operations to approximately
In addition, the Company introduces estimated third quarter 2025 GAAP EPS from continuing operations guidance of approximately
EARNINGS CONFERENCE CALL
Reconciliations of non-GAAP financial measures are set forth in the attachments to this release and in the presentations, each of which can be found on Pentair’s website. The webcast and presentations will be archived at the Company’s website following the conclusion of the event.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “should,” “would,” “could,” “positioned,” “strategy,” or “future” or words, phrases, or terms of similar substance or the negative thereof are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the overall global economic and business conditions impacting our business, including the strength of housing and related markets and conditions relating to international hostilities; supply, demand, logistics, competition and pricing pressures related to and in the markets we serve; the ability to achieve the benefits of our restructuring plans, cost reduction initiatives and Transformation Program; the impact of raw material, logistics and labor costs and other inflation; volatility in currency exchange rates and interest rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; risks associated with operating foreign businesses; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit
ABOUT
At
|
|
|||||||||||||
|
Condensed Consolidated Statements of Operations (Unaudited) |
|||||||||||||
|
|
|
|
|
|
|||||||||
|
|
Three months ended |
Six months ended |
|||||||||||
|
In millions, except per-share data |
|
|
|
|
|||||||||
|
Net sales |
$ |
1,123.1 |
|
$ |
1,099.3 |
|
$ |
2,133.5 |
|
$ |
2,116.5 |
|
|
|
Cost of goods sold |
|
666.5 |
|
|
661.4 |
|
|
1,273.6 |
|
|
1,288.5 |
|
|
|
Gross profit |
|
456.6 |
|
|
437.9 |
|
|
859.9 |
|
|
828.0 |
|
|
|
% of net sales |
|
40.7 |
% |
|
39.8 |
% |
|
40.3 |
% |
|
39.1 |
% |
|
|
Selling, general and administrative expenses |
|
213.8 |
|
|
165.1 |
|
|
390.4 |
|
|
350.3 |
|
|
|
% of net sales |
|
19.0 |
% |
|
15.0 |
% |
|
18.3 |
% |
|
16.6 |
% |
|
|
Research and development expenses |
|
25.1 |
|
|
24.8 |
|
|
48.7 |
|
|
48.9 |
|
|
|
% of net sales |
|
2.2 |
% |
|
2.3 |
% |
|
2.3 |
% |
|
2.3 |
% |
|
|
Operating income |
|
217.7 |
|
|
248.0 |
|
|
420.8 |
|
|
428.8 |
|
|
|
% of net sales |
|
19.4 |
% |
|
22.6 |
% |
|
19.7 |
% |
|
20.3 |
% |
|
|
Other expense |
|
|
|
|
|||||||||
|
Loss on sale of business |
|
26.3 |
|
|
— |
|
|
26.3 |
|
|
— |
|
|
|
Other expense |
|
1.0 |
|
|
0.8 |
|
|
1.5 |
|
|
0.9 |
|
|
|
Net interest expense |
|
17.9 |
|
|
26.3 |
|
|
37.6 |
|
|
53.6 |
|
|
|
% of net sales |
|
1.6 |
% |
|
2.4 |
% |
|
1.8 |
% |
|
2.5 |
% |
|
|
Income from continuing operations before income taxes |
|
172.5 |
|
|
220.9 |
|
|
355.4 |
|
|
374.3 |
|
|
|
Provision for income taxes |
|
24.0 |
|
|
34.8 |
|
|
52.0 |
|
|
54.7 |
|
|
|
Effective tax rate |
|
13.9 |
% |
|
15.8 |
% |
|
14.6 |
% |
|
14.6 |
% |
|
|
Net income from continuing operations |
|
148.5 |
|
|
186.1 |
|
|
303.4 |
|
|
319.6 |
|
|
|
Loss from discontinued operations, net of tax |
|
— |
|
|
— |
|
|
— |
|
|
(0.2 |
) |
|
|
Net income |
$ |
148.5 |
|
$ |
186.1 |
|
$ |
303.4 |
|
$ |
319.4 |
|
|
|
Earnings per ordinary share |
|
|
|
|
|||||||||
|
Basic |
|
|
|
|
|||||||||
|
Continuing operations |
$ |
0.90 |
|
$ |
1.12 |
|
$ |
1.84 |
|
$ |
1.93 |
|
|
|
Discontinued operations |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
Basic earnings per ordinary share |
$ |
0.90 |
|
$ |
1.12 |
|
$ |
1.84 |
|
$ |
1.93 |
|
|
|
Diluted |
|
|
|
|
|||||||||
|
Continuing operations |
$ |
0.90 |
|
$ |
1.11 |
|
$ |
1.83 |
|
$ |
1.91 |
|
|
|
Discontinued operations |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
Diluted earnings per ordinary share |
$ |
0.90 |
|
$ |
1.11 |
|
$ |
1.83 |
|
$ |
1.91 |
|
|
|
Weighted average ordinary shares outstanding |
|
|
|
|
|||||||||
|
Basic |
|
164.5 |
|
|
165.9 |
|
|
164.7 |
|
|
165.8 |
|
|
|
Diluted |
|
165.7 |
|
|
167.3 |
|
|
166.0 |
|
|
167.3 |
|
|
|
Cash dividends paid per ordinary share |
$ |
0.25 |
|
$ |
0.23 |
|
$ |
0.50 |
|
$ |
0.46 |
|
|
|
|
||||
|
Condensed Consolidated Balance Sheets (Unaudited) |
||||
|
|
|
|
||
|
|
|
|
||
|
In millions |
||||
|
Assets |
||||
|
Current assets |
|
|
||
|
Cash and cash equivalents |
$ |
143.0 |
$ |
118.7 |
|
Accounts receivable, net |
|
539.2 |
|
565.2 |
|
Inventories |
|
602.5 |
|
610.9 |
|
Other current assets |
|
147.6 |
|
141.3 |
|
Total current assets |
|
1,432.3 |
|
1,436.1 |
|
Property, plant and equipment, net |
|
363.8 |
|
358.8 |
|
Other assets |
|
|
||
|
|
|
3,364.3 |
|
3,286.6 |
|
Intangibles, net |
|
983.9 |
|
1,033.8 |
|
Other non-current assets |
|
335.2 |
|
331.2 |
|
Total other assets |
|
4,683.4 |
|
4,651.6 |
|
Total assets |
$ |
6,479.5 |
$ |
6,446.5 |
|
Liabilities and Equity |
||||
|
Current liabilities |
|
|
||
|
Current maturities of short-term borrowings |
$ |
0.1 |
$ |
9.3 |
|
Accounts payable |
|
313.8 |
|
272.8 |
|
Employee compensation and benefits |
|
102.5 |
|
116.2 |
|
Other current liabilities |
|
573.7 |
|
496.8 |
|
Total current liabilities |
|
990.1 |
|
895.1 |
|
Other liabilities |
|
|
||
|
Long-term debt |
|
1,398.1 |
|
1,638.7 |
|
Pension and other post-retirement compensation and benefits |
|
59.8 |
|
61.6 |
|
Deferred tax liabilities |
|
48.2 |
|
44.4 |
|
Other non-current liabilities |
|
311.1 |
|
243.8 |
|
Total liabilities |
|
2,807.3 |
|
2,883.6 |
|
Equity |
|
3,672.2 |
|
3,562.9 |
|
Total liabilities and equity |
$ |
6,479.5 |
$ |
6,446.5 |
|
|
||||||
|
Condensed Consolidated Statements of Cash Flows (Unaudited) |
||||||
|
|
||||||
|
|
Six months ended |
|||||
|
In millions |
|
|
||||
|
Operating activities |
|
|
||||
|
Net income |
$ |
303.4 |
|
$ |
319.4 |
|
|
Loss from discontinued operations, net of tax |
|
— |
|
|
0.2 |
|
|
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations |
|
|
||||
|
Equity income of unconsolidated subsidiaries |
|
(0.4 |
) |
|
(1.1 |
) |
|
Depreciation |
|
29.4 |
|
|
30.4 |
|
|
Amortization |
|
28.5 |
|
|
26.9 |
|
|
Deferred income taxes |
|
18.5 |
|
|
12.6 |
|
|
Loss on sale of business |
|
26.3 |
|
|
— |
|
|
Share-based compensation |
|
21.2 |
|
|
16.3 |
|
|
Asset impairment and write-offs |
|
47.0 |
|
|
0.8 |
|
|
Changes in assets and liabilities, net of effects of business acquisitions |
|
|
||||
|
Accounts receivable |
|
33.4 |
|
|
(10.7 |
) |
|
Inventories |
|
(9.9 |
) |
|
23.5 |
|
|
Other current assets |
|
(27.3 |
) |
|
(4.0 |
) |
|
Accounts payable |
|
39.4 |
|
|
19.4 |
|
|
Employee compensation and benefits |
|
(18.9 |
) |
|
(19.4 |
) |
|
Other current liabilities |
|
66.6 |
|
|
6.6 |
|
|
Other non-current assets and liabilities |
|
10.5 |
|
|
10.9 |
|
|
Net cash provided by operating activities of continuing operations |
|
567.7 |
|
|
431.8 |
|
|
Net cash used for operating activities of discontinued operations |
|
— |
|
|
(0.2 |
) |
|
Net cash provided by operating activities |
|
567.7 |
|
|
431.6 |
|
|
Investing activities |
|
|
||||
|
Capital expenditures |
|
(27.7 |
) |
|
(36.3 |
) |
|
Purchase of investments |
|
(18.0 |
) |
|
— |
|
|
Proceeds from sale of property and equipment |
|
0.1 |
|
|
— |
|
|
Other |
|
0.2 |
|
|
(0.5 |
) |
|
Net cash used for investing activities |
|
(45.4 |
) |
|
(36.8 |
) |
|
Financing activities |
|
|
||||
|
Net (repayments) receipts of short-term borrowings |
|
(9.2 |
) |
|
3.3 |
|
|
Net borrowings of revolving long-term debt |
|
9.9 |
|
|
— |
|
|
Repayments of long-term debt |
|
(250.0 |
) |
|
(237.5 |
) |
|
Debt issuance costs |
|
(2.1 |
) |
|
— |
|
|
Shares issued to employees, net of shares withheld |
|
(10.6 |
) |
|
9.3 |
|
|
Repurchases of ordinary shares |
|
(125.0 |
) |
|
(50.0 |
) |
|
Dividends paid |
|
(82.4 |
) |
|
(76.2 |
) |
|
Net cash used for financing activities |
|
(469.4 |
) |
|
(351.1 |
) |
|
Effect of exchange rate changes on cash and cash equivalents |
|
(28.6 |
) |
|
0.3 |
|
|
Change in cash and cash equivalents |
|
24.3 |
|
|
44.0 |
|
|
Cash and cash equivalents, beginning of period |
|
118.7 |
|
|
170.3 |
|
|
Cash and cash equivalents, end of period |
$ |
143.0 |
|
$ |
214.3 |
|
|
|
|||||||||
|
Reconciliation of the GAAP Operating Activities Cash Flow to the Non-GAAP Free Cash Flow (Unaudited) |
|||||||||
|
|
|||||||||
|
|
Three months
|
Three months
|
Six months
|
||||||
|
In millions |
|
|
|
||||||
|
Net cash (used for) provided by operating activities of continuing operations |
$ |
(38.9 |
) |
$ |
606.6 |
|
$ |
567.7 |
|
|
Capital expenditures |
|
(16.8 |
) |
|
(10.9 |
) |
|
(27.7 |
) |
|
Proceeds from sale of property and equipment |
|
— |
|
|
0.1 |
|
|
0.1 |
|
|
Free cash flow |
$ |
(55.7 |
) |
$ |
595.8 |
|
$ |
540.1 |
|
|
|
|
|
|
||||||
|
|
|
|
|
||||||
|
Three months
|
Three months
|
Six months
|
|||||||
|
In millions |
|
|
|
||||||
|
Net cash (used for) provided by operating activities of continuing operations |
$ |
(107.4 |
) |
$ |
539.2 |
|
$ |
431.8 |
|
|
Capital expenditures |
|
(19.3 |
) |
|
(17.0 |
) |
|
(36.3 |
) |
|
Free cash flow from continuing operations |
|
(126.7 |
) |
|
522.2 |
|
|
395.5 |
|
|
Net cash used for operating activities of discontinued operations |
|
(0.2 |
) |
|
— |
|
|
(0.2 |
) |
|
Free cash flow |
$ |
(126.9 |
) |
$ |
522.2 |
|
$ |
395.3 |
|
|
|
|
|
|
||||||
|
|
|
|
|
||||||
|
|
|||||||||||||||||||
|
Supplemental Financial Information by Reportable Segment (Unaudited) |
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
2025 |
|
2024 |
||||||||||||||||
|
In millions |
First Quarter |
Second Quarter |
Six Months |
|
First Quarter |
Second Quarter |
Six Months |
||||||||||||
|
Net sales |
|
|
|
|
|
|
|
||||||||||||
|
Flow |
$ |
367.9 |
|
$ |
397.3 |
|
$ |
765.2 |
|
|
$ |
384.3 |
|
$ |
396.8 |
|
$ |
781.1 |
|
|
Water Solutions |
|
258.2 |
|
|
298.3 |
|
|
556.5 |
|
|
|
273.1 |
|
|
310.5 |
|
|
583.6 |
|
|
Pool |
|
383.9 |
|
|
427.2 |
|
|
811.1 |
|
|
|
359.5 |
|
|
391.5 |
|
|
751.0 |
|
|
Reportable segment net sales |
|
1,010.0 |
|
|
1,122.8 |
|
|
2,132.8 |
|
|
|
1,016.9 |
|
|
1,098.8 |
|
|
2,115.7 |
|
|
Corporate and other |
|
0.4 |
|
|
0.3 |
|
|
0.7 |
|
|
|
0.3 |
|
|
0.5 |
|
|
0.8 |
|
|
Net sales |
$ |
1,010.4 |
|
$ |
1,123.1 |
|
$ |
2,133.5 |
|
|
$ |
1,017.2 |
|
$ |
1,099.3 |
|
$ |
2,116.5 |
|
|
Reportable segment income (loss) |
|
|
|
|
|
|
|
||||||||||||
|
Flow |
$ |
83.6 |
|
$ |
93.1 |
|
$ |
176.7 |
|
|
$ |
77.3 |
|
$ |
84.4 |
|
$ |
161.7 |
|
|
Water Solutions |
|
60.7 |
|
|
70.2 |
|
|
130.9 |
|
|
|
55.6 |
|
|
72.9 |
|
|
128.5 |
|
|
Pool |
|
126.0 |
|
|
152.7 |
|
|
278.7 |
|
|
|
110.8 |
|
|
133.6 |
|
|
244.4 |
|
|
Reportable segment income |
|
270.3 |
|
|
316.0 |
|
|
586.3 |
|
|
|
243.7 |
|
|
290.9 |
|
|
534.6 |
|
|
Corporate and other |
|
(27.8 |
) |
|
(19.3 |
) |
|
(47.1 |
) |
|
|
(26.4 |
) |
|
(19.5 |
) |
|
(45.9 |
) |
|
Adjusted operating income |
$ |
242.5 |
|
$ |
296.7 |
|
$ |
539.2 |
|
|
$ |
217.3 |
|
$ |
271.4 |
|
$ |
488.7 |
|
|
Return on sales |
|
|
|
|
|
|
|
||||||||||||
|
Flow |
|
22.7 |
% |
|
23.4 |
% |
|
23.1 |
% |
|
|
20.1 |
% |
|
21.3 |
% |
|
20.7 |
% |
|
Water Solutions |
|
23.5 |
% |
|
23.5 |
% |
|
23.5 |
% |
|
|
20.4 |
% |
|
23.5 |
% |
|
22.0 |
% |
|
Pool |
|
32.8 |
% |
|
35.7 |
% |
|
34.4 |
% |
|
|
30.8 |
% |
|
34.1 |
% |
|
32.5 |
% |
|
Adjusted return on sales |
|
24.0 |
% |
|
26.4 |
% |
|
25.3 |
% |
|
|
21.4 |
% |
|
24.7 |
% |
|
23.1 |
% |
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|||||||||||||||
|
Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ending |
|||||||||||||||
|
Excluding the Effect of Adjustments (Unaudited) |
|||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
Actual |
|
Forecast |
||||||||||||
|
In millions, except per-share data |
First Quarter |
Second Quarter |
|
Third Quarter |
Full Year |
||||||||||
|
Net sales |
$ |
1,010.4 |
|
$ |
1,123.1 |
|
|
approx |
Flat - Up 1% |
approx |
Up 1% - 2% |
||||
|
Operating income |
|
203.1 |
|
|
217.7 |
|
|
approx |
Up 30% - 34% |
approx |
Up 9% - 12% |
||||
|
Return on sales |
|
20.1 |
% |
|
19.4 |
% |
|
|
|
|
|
||||
|
Adjustments: |
|
|
|
|
|
|
|
||||||||
|
Restructuring and other |
|
10.5 |
|
|
10.4 |
|
|
approx |
$ |
— |
|
approx |
$ |
21 |
|
|
Transformation costs |
|
9.1 |
|
|
12.5 |
|
|
approx |
|
— |
|
approx |
|
22 |
|
|
Intangible amortization |
|
14.2 |
|
|
14.3 |
|
|
approx |
|
14 |
|
approx |
|
55 |
|
|
Asset impairment and write-offs |
|
5.2 |
|
|
41.8 |
|
|
approx |
|
— |
|
approx |
|
47 |
|
|
Equity income of unconsolidated subsidiaries |
|
0.4 |
|
|
— |
|
|
approx |
|
1 |
|
approx |
|
2 |
|
|
Adjusted operating income |
|
242.5 |
|
|
296.7 |
|
|
approx |
Up 4% - 7% |
approx |
Up 7% - 9% |
||||
|
Adjusted return on sales |
|
24.0 |
% |
|
26.4 |
% |
|
|
|
|
|
||||
|
Net income from continuing operations—as reported |
|
154.9 |
|
|
148.5 |
|
|
approx |
|
approx |
|
||||
|
Loss on sale of business |
|
— |
|
|
26.3 |
|
|
approx |
|
— |
|
approx |
|
26 |
|
|
Adjustments to operating income |
|
39.0 |
|
|
79.0 |
|
|
approx |
|
14 |
|
approx |
|
145 |
|
|
Income tax adjustments |
|
(9.7 |
) |
|
(23.3 |
) |
|
approx |
|
(2 |
) |
approx |
|
(38 |
) |
|
Net income from continuing operations—as adjusted |
$ |
184.2 |
|
$ |
230.5 |
|
|
approx |
|
approx |
|
||||
|
Continuing earnings per ordinary share—diluted |
|
|
|
|
|
|
|
||||||||
|
Diluted earnings per ordinary share—as reported |
$ |
0.93 |
|
$ |
0.90 |
|
|
approx |
|
approx |
|
||||
|
Adjustments |
|
0.18 |
|
|
0.49 |
|
|
approx |
|
0.07 |
|
approx |
|
0.80 |
|
|
Diluted earnings per ordinary share—as adjusted |
$ |
1.11 |
|
$ |
1.39 |
|
|
approx |
|
approx |
|
||||
|
|
|
||||||||||||||
|
|
|||||||||||||||
|
Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ending |
|||||||||||||||
|
Excluding the Effect of Adjustments (Unaudited) |
|||||||||||||||
|
|
|
|
|
|
|
||||||||||
|
In millions, except per-share data |
First Quarter |
Second Quarter |
Third Quarter |
Fourth
|
Full Year |
||||||||||
|
Net sales |
$ |
1,017.2 |
|
$ |
1,099.3 |
|
$ |
993.4 |
|
$ |
972.9 |
|
$ |
4,082.8 |
|
|
Operating income |
|
180.8 |
|
|
248.0 |
|
|
179.9 |
|
|
195.1 |
|
|
803.8 |
|
|
Return on sales |
|
17.8 |
% |
|
22.6 |
% |
|
18.1 |
% |
|
20.1 |
% |
|
19.7 |
% |
|
Adjustments: |
|
|
|
|
|
||||||||||
|
Restructuring and other |
|
4.6 |
|
|
5.9 |
|
|
23.4 |
|
|
3.1 |
|
|
37.0 |
|
|
Transformation costs |
|
17.0 |
|
|
11.8 |
|
|
12.6 |
|
|
10.7 |
|
|
52.1 |
|
|
Intangible amortization |
|
13.5 |
|
|
13.4 |
|
|
13.5 |
|
|
13.9 |
|
|
54.3 |
|
|
Legal accrual adjustments and settlements |
|
(0.3 |
) |
|
(7.9 |
) |
|
0.7 |
|
|
— |
|
|
(7.5 |
) |
|
Asset impairment and write-offs |
|
0.8 |
|
|
— |
|
|
8.5 |
|
|
8.3 |
|
|
17.6 |
|
|
Equity income of unconsolidated subsidiaries |
|
0.9 |
|
|
0.2 |
|
|
0.6 |
|
|
0.2 |
|
|
1.9 |
|
|
Adjusted operating income |
|
217.3 |
|
|
271.4 |
|
|
239.2 |
|
|
231.3 |
|
|
959.2 |
|
|
Adjusted return on sales |
|
21.4 |
% |
|
24.7 |
% |
|
24.1 |
% |
|
23.8 |
% |
|
23.5 |
% |
|
Net income from continuing operations—as reported |
|
133.5 |
|
|
186.1 |
|
|
139.6 |
|
|
166.4 |
|
|
625.6 |
|
|
Pension and other post retirement mark to market gain |
|
— |
|
|
— |
|
|
— |
|
|
(5.3 |
) |
|
(5.3 |
) |
|
Other (income) expense |
|
— |
|
|
— |
|
|
(0.5 |
) |
|
0.1 |
|
|
(0.4 |
) |
|
Adjustments to operating income |
|
35.6 |
|
|
23.2 |
|
|
58.7 |
|
|
36.0 |
|
|
153.5 |
|
|
Income tax adjustments |
|
(11.3 |
) |
|
(5.4 |
) |
|
(15.4 |
) |
|
(17.6 |
) |
|
(49.7 |
) |
|
Net income from continuing operations—as adjusted |
$ |
157.8 |
|
$ |
203.9 |
|
$ |
182.4 |
|
$ |
179.6 |
|
$ |
723.7 |
|
|
Continuing earnings per ordinary share—diluted |
|
|
|
|
|
||||||||||
|
Diluted earnings per ordinary share—as reported |
$ |
0.80 |
|
$ |
1.11 |
|
$ |
0.84 |
|
$ |
0.99 |
|
$ |
3.74 |
|
|
Adjustments |
|
0.14 |
|
|
0.11 |
|
|
0.25 |
|
|
0.09 |
|
|
0.59 |
|
|
Diluted earnings per ordinary share—as adjusted |
$ |
0.94 |
|
$ |
1.22 |
|
$ |
1.09 |
|
$ |
1.08 |
|
$ |
4.33 |
|
|
|
||||||||
|
Reconciliation of Net Sales Growth to Core Net Sales Growth by Reportable Segment |
||||||||
|
For the Quarter Ended |
||||||||
|
|
||||||||
|
|
Q2 Net Sales Growth |
|||||||
|
|
Core |
Currency |
Acq. / Div. |
Total |
||||
|
Total |
1.3 |
% |
0.7 |
% |
0.2 |
% |
2.2 |
% |
|
Flow |
(1.3 |
)% |
1.4 |
% |
— |
% |
0.1 |
% |
|
Water Solutions |
(3.0 |
)% |
0.6 |
% |
(1.5 |
)% |
(3.9 |
)% |
|
Pool |
7.3 |
% |
— |
% |
1.8 |
% |
9.1 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250722131295/en/
Vice President, Investor Relations
Direct: 763-656-5575
Email: shelly.hubbard@pentair.com
Vice President, Communications
Direct: 763-656-5589
Email: rebecca.osborn@pentair.com
Source:
