Pentair Q1 GAAP EPS $0.80, adjusted $0.94; sales $1.0B; raises FY24 GAAP EPS guidance

PENTAIR plc

2024-Q1 EPS reported $0.80 revenue$1,017,200,000

Sales $1.0B (-1% YoY); operating income $181M; GAAP EPS $0.80 vs $0.78 YoY; adjusted EPS $0.94 vs $0.91.
Segment income $217M (+3% YoY); adjusted ROS 21.4% (+90 bps); Flow ROS +350 bps to 20.1%, Water Solutions +110 bps to 20.4%, Pool -110 bps to 30.8%.
Free cash flow used -$127M vs -$123M YoY; dividend maintained at $0.23/share (48th consecutive annual increase).
FY24 GAAP EPS guidance raised to ~$3.76-$3.86; adjusted EPS reiterated at $4.15-$4.25; sales growth 2-3%.
Q2 2024 guidance: GAAP EPS $1.08-$1.10, adjusted EPS $1.15-$1.17; sales up ~1-2%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PENTAIR plc reported first quarter 2024 results: revenue $1.0 billion, EPS $0.80. Guidance reaffirmed.

Period: first quarter 2024
Revenue: $1.0 billion
EPS: $0.80
Guidance: reaffirmed
Result: reported results

Exact text from the filing

News Release Pentair Reports Strong First Quarter 2024 Results • Sales of $1.0 billion • Operating income of $181 million reflecting ROS of 17.8 percent, flat to prior year; on an adjusted basis, ROS expanded 90 basis points to 21.4 percent • GAAP EPS of $0.80 and adjusted EPS of $0.94 • The company updates its full year 2024 GAAP EPS guidance to approximately $3.76 to $3.86 and reiterates EPS guidance on an adjusted basis of approximately $4.15 to $4.25

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Source: SEC EDGAR

accession 0000077360-24-000017

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