- Fourth quarter sales of $973 million; full year 2024 sales of
$4.1 billion.
- Operating income in the fourth quarter increased 17 percent to
$195 million reflecting ROS of 20.1 percent, an increase of 310
basis points when compared to fourth quarter 2023; on an adjusted
basis, ROS expanded 370 basis points to 23.8 percent. Full year
operating income increased 9 percent to $804 million reflecting ROS
of 19.7 percent, an increase of 170 basis points from the prior
year; on an adjusted basis, ROS expanded 270 basis points to 23.5
percent.
- Fourth quarter GAAP EPS of $0.99 and adjusted EPS of $1.08;
full year 2024 GAAP EPS of $3.74 and adjusted EPS of $4.33.
- Full year net cash provided by operating activities of
continuing operations was $767 million, an increase of $146 million
compared to the prior year and free cash flow provided by
continuing operations for the full year was $693 million, an
increase of $143 million compared to full year 2023.
- The Company introduces 2025 GAAP EPS guidance of approximately
$4.37 to $4.52; and adjusted EPS guidance of approximately $4.65 to
$4.80.
Reconciliations of GAAP to Non-GAAP measures are in the attached
financial tables.
Pentair plc (NYSE: PNR) today announced fourth quarter 2024
sales of $973 million. Sales were down 1 percent compared to sales
for the same period last year. Excluding currency translation,
acquisitions and divestitures, core sales declined 1 percent in the
fourth quarter. Fourth quarter 2024 earnings per diluted share from
continuing operations (“EPS”) were $0.99 compared to $1.25 in the
fourth quarter of 2023. On an adjusted basis, the Company reported
EPS of $1.08 in the fourth quarter compared to $0.87 in the fourth
quarter of 2023. Adjusted operating income, reportable segment
income, adjusted net income, free cash flow, and adjusted EPS are
described in the attached schedules.
Fourth quarter 2024 operating income was $195 million, up 17
percent compared to operating income for the fourth quarter of
2023, and return on sales (“ROS”) was 20.1 percent, an increase of
310 basis points when compared to the fourth quarter of 2023. On an
adjusted basis, the Company reported adjusted operating income of
$231 million, up 17 percent for the fourth quarter of 2024 compared
to adjusted operating income for the fourth quarter of 2023, and
ROS was 23.8 percent, an increase of 370 basis points when compared
to the fourth quarter of 2023.
“We delivered another transformative year in 2024 and drove
strong margin expansion across our entire portfolio despite a
challenging global macroeconomic and geopolitical environment. By
leveraging our Transformation initiatives and 80/20, our teams
produced another solid year of operational and financial
performance which mitigated risk to the topline while expanding
profitability. This was a direct reflection of the power of our
balanced and resilient water portfolio, our focused growth strategy
and strong execution,” said John L. Stauch, Pentair’s President and
Chief Executive Officer. “Each of our Move, Improve and Enjoy Water
segments drove record margins for another consecutive year post the
nVent separation in 2018. In Flow, we continued to grow our
Commercial business while evolving our go-to-market strategy within
Industrial. In Water Solutions, our filtration sales delivered
another year of growth, and in Pool, we returned to sales growth
driven by a strong aftermarket. We ended the year with strong cash
flow and a solid balance sheet. We increased our dividend by
approximately 9 percent for 2025 marking the 49th consecutive year
of dividend increases and reaffirming our dividend aristocrat
status. I’m proud of our accomplishments across the company and how
our teams have delivered for customers and shareholders in
2024.”
Full year 2024 sales were $4.1 billion. Sales were down 1
percent compared to sales last year. Excluding currency
translation, acquisitions and divestitures, core sales were flat in
2024. Full year 2024 EPS from continuing operations was $3.74
compared to $3.75 in 2023. On an adjusted basis, the Company
reported EPS of $4.33 for 2024 compared to $3.75 in 2023.
Full year 2024 operating income was $804 million, up 9 percent
compared to operating income in 2023, and ROS was 19.7 percent, an
increase of 170 basis points when compared to 2023. On an adjusted
basis, the Company reported adjusted operating income of $959
million, up 12 percent in 2024, compared to adjusted operating
income in 2023, and ROS was 23.5 percent, an increase of 270 basis
points when compared to 2023.
Flow sales were down 5 percent in the fourth quarter of 2024
compared to sales for the same period last year. Excluding currency
translation, acquisitions and divestitures, core sales declined 5
percent in the fourth quarter. Reportable segment income of $74
million was up 13 percent compared to the fourth quarter of 2023,
and ROS was 20.4 percent, an increase of 320 basis points when
compared to the fourth quarter of 2023.
Flow sales were down 4 percent for the full year of 2024
compared to sales for 2023. Excluding currency translation,
acquisitions and divestitures, core sales declined 4 percent in
2024. Reportable segment income of $318 million was up 13 percent
compared to 2023, and ROS was 21.0 percent, an increase of 320
basis points when compared to 2023.
Water Solutions sales were down 4 percent in the fourth quarter
of 2024 compared to sales for the same period last year. Excluding
currency translation, acquisitions and divestitures, core sales
declined 4 percent in the fourth quarter. Reportable segment income
of $62 million was up 21 percent compared to the fourth quarter of
2023, and ROS was 24.1 percent, an increase of 500 basis points
when compared to the fourth quarter of 2023.
Water Solutions sales were down 4 percent for the full year of
2024 compared to sales for 2023. Excluding currency translation,
acquisitions and divestitures, core sales declined 4 percent in
2024. Reportable segment income of $255 million was up 3 percent
compared to 2023, and ROS was 22.6 percent, an increase of 160
basis points when compared to 2023.
Pool sales were up 5 percent in the fourth quarter of 2024
compared to sales for the same period last year. Excluding currency
translation, acquisitions and divestitures, core sales grew 4
percent in the fourth quarter. Reportable segment income of $119
million was up 14 percent compared to the fourth quarter of 2023,
and ROS was 33.8 percent, an increase of 250 basis points when
compared to the fourth quarter of 2023.
Pool sales were up 7 percent for the full year of 2024 compared
to sales for 2023. Excluding currency translation, acquisitions and
divestitures, core sales grew 7 percent in 2024. Reportable segment
income of $476 million was up 14 percent compared to 2023, and ROS
was 33.2 percent, an increase of 220 basis points when compared to
2023.
Full year net cash provided by operating activities of
continuing operations was $767 million and free cash flow from
continuing operations was $693 million.
Pentair paid a regular cash dividend of $0.23 per share in the
fourth quarter of 2024. Pentair previously announced on December
16, 2024 that it will pay a regular quarterly cash dividend of
$0.25 per share on February 7, 2025 to shareholders of record at
the close of business on January 24, 2025. This $0.25 per share
quarterly cash dividend reflects an approximate 9 percent increase
in the Company’s regular cash dividend rate as compared to $0.23
per share per quarter in 2024 and marks the 49thconsecutive year
that Pentair has increased its dividend.
During the fourth quarter, the company repurchased 0.4 million
shares for $50 million. During the year ended December 31, 2024,
the company repurchased 1.6 million shares for $150 million. As of
December 31, 2024, we had $450 million available for share
repurchases under our share repurchase authorization.
OUTLOOK
Mr. Stauch concluded, “As we look to 2025, we are focused on our
mission to help the world sustainably move, improve, and enjoy
water, life’s most essential resource. We expect to continue to
invest in key areas across the company and execute on our
Transformation initiatives and 80/20 to drive long-term growth,
profitability and returns. We believe our balanced water portfolio
is proving its resilience as Pool is expected to grow offsetting
our Flow and Water Solutions residential end markets that remain
pressured by higher interest rates. We are confident in our
strategy and our ability to control what we can internally while
mitigating risk from an uncertain macroeconomic and geopolitical
environment near-term.”
The Company is introducing 2025 GAAP EPS guidance of
approximately $4.37 to $4.52, up 17 percent to 21 percent; and on
an adjusted basis of approximately $4.65 to $4.80. This is an
increase of 7 percent to 11 percent compared to 2024 adjusted EPS.
The Company anticipates full year 2025 sales to be approximately
flat to up 2 percent on a reported basis.
In addition, the Company introduces first quarter 2025 GAAP EPS
of approximately $0.93 to $0.95 and on an adjusted EPS basis of
approximately $1.00 to $1.02. The Company expects first quarter
sales to be down approximately 3 percent to 4 percent on a reported
basis compared to first quarter 2024.
EARNINGS CONFERENCE CALL
Pentair President and Chief Executive Officer John L. Stauch and
Chief Financial Officer Robert P. Fishman will discuss the
Company’s fourth quarter and full year 2024 results on a conference
call with investors at 9:00 a.m. Eastern today. A live audio
webcast of the call, along with the related presentation, can be
accessed in the Investor Relations section of the Company’s
website, www.pentair.com, shortly before the call begins.
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 U.S. tax benefits
or impact trade agreements and tariffs; the outcome of litigation
and governmental proceedings; and the ability to achieve our
long-term strategic operating and sustainability goals and targets.
Additional information concerning these and other factors is
contained in our filings with the U.S. Securities and Exchange
Commission (the “SEC”), including our Annual Report on Form 10-K
for the year ended December 31, 2023. All forward-looking
statements, including all financial forecasts, speak only as of the
date of this release. Pentair assumes no obligation, and disclaims
any obligation, to update the information contained in this
release.
ABOUT PENTAIR PLC
At Pentair, we help the world sustainably move, improve, and
enjoy water, life’s most essential resource. From our residential
and commercial water solutions, to industrial water management and
everything in between, Pentair is a core large cap value S&P
500 equity stock focused on smart, sustainable water solutions that
help our planet and people thrive.
Pentair had revenue in 2024 of approximately $4.1 billion, and
trades under the ticker symbol PNR. With approximately 9,750 global
employees serving customers in more than 150 countries, we work to
help improve lives and the environment around the world. To learn
more, visit www.pentair.com.
Pentair plc and
Subsidiaries
Condensed Consolidated
Statements of Operations (Unaudited)
Three months ended
Twelve months ended
In millions, except per-share data
December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2023
Net sales
$
972.9
$
984.6
$
4,082.8
$
4,104.5
Cost of goods sold
595.3
618.5
2,484.0
2,585.3
Gross profit
377.6
366.1
1,598.8
1,519.2
% of net sales
38.8
%
37.2
%
39.2
%
37.0
%
Selling, general and administrative
160.7
175.6
701.4
680.2
% of net sales
16.5
%
17.8
%
17.2
%
16.6
%
Research and development
21.8
23.5
93.6
99.8
% of net sales
2.2
%
2.4
%
2.3
%
2.4
%
Operating income
195.1
167.0
803.8
739.2
% of net sales
20.1
%
17.0
%
19.7
%
18.0
%
Other (income) expense
Other (income) expense
(4.5
)
6.4
(3.7
)
2.0
Net interest expense
15.2
26.6
88.6
118.3
% of net sales
1.6
%
2.7
%
2.2
%
2.9
%
Income from continuing operations before
income taxes
184.4
134.0
718.9
618.9
Provision (benefit) for income taxes
18.0
(74.1
)
93.3
(4.0
)
Effective tax rate
9.8
%
(55.3
)%
13.0
%
(0.6
)%
Net income from continuing
operations
166.4
208.1
625.6
622.9
Loss from discontinued operations, net of
tax
—
(0.1
)
(0.2
)
(0.2
)
Net income
$
166.4
$
208.0
$
625.4
$
622.7
Earnings per ordinary share
Basic
Continuing operations
$
1.01
$
1.26
$
3.78
$
3.77
Discontinued operations
—
—
—
—
Basic earnings per ordinary share
$
1.01
$
1.26
$
3.78
$
3.77
Diluted
Continuing operations
$
0.99
$
1.25
$
3.74
$
3.75
Discontinued operations
—
—
—
—
Diluted earnings per ordinary share
$
0.99
$
1.25
$
3.74
$
3.75
Weighted average ordinary shares
outstanding
Basic
165.2
165.3
165.6
165.1
Diluted
166.8
166.7
167.1
166.3
Cash dividends paid per ordinary
share
$
0.23
$
0.22
$
0.92
$
0.88
Pentair plc and
Subsidiaries
Condensed Consolidated Balance
Sheets (Unaudited)
December 31,
December 31,
In millions
2024
2023
Assets
Current assets
Cash and cash equivalents
$
118.7
$
170.3
Accounts receivable, net
565.2
561.7
Inventories
610.9
677.7
Other current assets
141.3
159.3
Total current assets
1,436.1
1,569.0
Property, plant and equipment,
net
358.8
362.0
Other assets
Goodwill
3,286.6
3,274.6
Intangibles, net
1,033.8
1,042.4
Other non-current assets
331.2
315.3
Total other assets
4,651.6
4,632.3
Total assets
$
6,446.5
$
6,563.3
Liabilities and Equity
Current liabilities
Current maturities of short-term
borrowings
$
9.3
$
—
Accounts payable
272.8
278.9
Employee compensation and benefits
116.2
125.4
Other current liabilities
496.8
545.3
Total current liabilities
895.1
949.6
Other liabilities
Long-term debt
1,638.7
1,988.3
Pension and other post-retirement
compensation and benefits
61.6
73.6
Deferred tax liabilities
44.4
40.0
Other non-current liabilities
243.8
294.7
Total liabilities
2,883.6
3,346.2
Equity
3,562.9
3,217.1
Total liabilities and equity
$
6,446.5
$
6,563.3
Pentair plc and
Subsidiaries
Condensed Consolidated
Statements of Cash Flows (Unaudited)
Years ended December
31
In millions
2024
2023
Operating activities
Net income
$
625.4
$
622.7
Loss from discontinued operations, net of
tax
0.2
0.2
Adjustments to reconcile net income
from continuing operations to net cash provided by operating
activities of continuing operations
Equity income of unconsolidated
subsidiaries
(1.9
)
(2.8
)
Depreciation
60.3
59.5
Amortization
54.3
55.3
Deferred income taxes
(11.4
)
(92.5
)
Share-based compensation
39.7
29.1
Asset impairment and write-offs
17.6
7.9
Pension and other post-retirement
expense
0.1
12.1
Pension and other post-retirement
contributions
(12.0
)
(8.7
)
Gain on sale of assets
—
(3.4
)
Changes in assets and liabilities, net
of effects of business acquisitions
Accounts receivable
(11.2
)
(24.4
)
Inventories
53.6
109.6
Other current assets
14.1
(29.1
)
Accounts payable
(3.7
)
(75.1
)
Employee compensation and benefits
(5.0
)
17.2
Other current liabilities
(48.7
)
(59.5
)
Other non-current assets and
liabilities
(4.5
)
2.7
Net cash provided by operating activities
of continuing operations
766.9
620.8
Net cash used for operating activities of
discontinued operations
(0.2
)
(1.6
)
Net cash provided by operating
activities
766.7
619.2
Investing activities
Capital expenditures
(74.4
)
(76.0
)
Proceeds from sale of property and
equipment
0.6
5.6
Acquisitions, net of cash acquired
(108.0
)
(0.6
)
Payments upon the settlement of net
investment hedges
(5.8
)
(18.5
)
Other
—
4.1
Net cash used for investing activities
(187.6
)
(85.4
)
Financing activities
Net receipts of short-term borrowings
9.3
—
Net borrowings (repayments) of revolving
long-term debt
9.5
(320.0
)
Repayments of long-term debt
(362.5
)
(12.5
)
Shares issued to employees, net of shares
withheld
18.4
9.6
Repurchases of ordinary shares
(150.0
)
—
Dividends paid
(152.3
)
(145.2
)
Payments upon the settlement of cross
currency swaps
(9.1
)
—
Net cash used for financing activities
(636.7
)
(468.1
)
Effect of exchange rate changes on cash
and cash equivalents
6.0
(4.3
)
Change in cash and cash
equivalents
(51.6
)
61.4
Cash and cash equivalents, beginning of
year
170.3
108.9
Cash and cash equivalents, end of
year
$
118.7
$
170.3
Pentair plc and
Subsidiaries
Reconciliation of the GAAP
Operating Activities Cash Flow to the Non-GAAP Free Cash Flow
(Unaudited)
Years ended December
31
In millions
2024
2023
Net cash provided by operating activities
of continuing operations
$
766.9
$
620.8
Capital expenditures
(74.4
)
(76.0
)
Proceeds from sale of property and
equipment
0.6
5.6
Free cash flow from continuing
operations
$
693.1
$
550.4
Net cash used for operating activities of
discontinued operations
(0.2
)
(1.6
)
Free cash flow
$
692.9
$
548.8
Pentair plc and
Subsidiaries
Supplemental Financial
Information by Reportable Segment (Unaudited)
2024
In millions
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales
Flow
$
384.3
$
396.8
$
372.2
$
360.7
$
1,514.0
Water Solutions
273.1
310.5
289.5
257.9
1,131.0
Pool
359.5
391.5
331.4
353.7
1,436.1
Reportable segment net sales
1,016.9
1,098.8
993.1
972.3
4,081.1
Corporate and other
0.3
0.5
0.3
0.6
1.7
Net Sales
$
1,017.2
$
1,099.3
$
993.4
$
972.9
$
4,082.8
Reportable segment income
(loss)
Flow
$
77.3
$
84.4
$
82.8
$
73.6
$
318.1
Water Solutions
55.6
72.9
64.4
62.2
255.1
Pool
110.8
133.6
112.7
119.4
476.5
Reportable segment income
243.7
290.9
259.9
255.2
1,049.7
Corporate and other
(26.4
)
(19.5
)
(20.7
)
(23.9
)
(90.5
)
Adjusted operating income
$
217.3
$
271.4
$
239.2
$
231.3
$
959.2
Return on sales
Flow
20.1
%
21.3
%
22.2
%
20.4
%
21.0
%
Water Solutions
20.4
%
23.5
%
22.2
%
24.1
%
22.6
%
Pool
30.8
%
34.1
%
34.0
%
33.8
%
33.2
%
Adjusted return on sales
21.4
%
24.7
%
24.1
%
23.8
%
23.5
%
2023
In millions
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales
Flow
$
391.8
$
411.6
$
400.2
$
378.5
$
1,582.1
Water Solutions
272.0
336.2
299.4
269.6
1,177.2
Pool
364.3
334.3
308.8
336.2
1,343.6
Reportable segment net sales
1,028.1
1,082.1
1,008.4
984.3
4,102.9
Corporate and other
0.5
0.4
0.4
0.3
1.6
Net Sales
$
1,028.6
$
1,082.5
$
1,008.8
$
984.6
$
4,104.5
Reportable segment income
(loss)
Flow
$
65.0
$
74.8
$
77.5
$
65.0
$
282.3
Water Solutions
52.4
74.8
68.8
51.6
247.6
Pool
116.2
105.1
90.6
105.1
417.0
Reportable segment income
233.6
254.7
236.9
221.7
946.9
Corporate and other
(22.6
)
(20.5
)
(24.8
)
(23.9
)
(91.8
)
Adjusted operating income
$
211.0
$
234.2
$
212.1
$
197.8
$
855.1
Return on sales
Flow
16.6
%
18.2
%
19.4
%
17.2
%
17.8
%
Water Solutions
19.3
%
22.2
%
23.0
%
19.1
%
21.0
%
Pool
31.9
%
31.4
%
29.3
%
31.3
%
31.0
%
Adjusted return on sales
20.5
%
21.6
%
21.0
%
20.1
%
20.8
%
Pentair plc and
Subsidiaries
Reconciliation of GAAP to
Non-GAAP Financial Measures for the Year Ended December 31,
2024
Excluding the Effect of
Adjustments (Unaudited)
In millions, except per-share data
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
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
Pentair plc and
Subsidiaries
Reconciliation of GAAP to
Non-GAAP Financial Measures for the Year Ending December 31,
2025
Excluding the Effect of
Adjustments (Unaudited)
Forecast
In millions, except per-share data
First
Quarter
Full
Year
Net sales
approx
Down 3% - 4%
approx
Flat - Up 2%
Operating income
approx
Up 16% - 18%
approx
Up 19% - 23%
Adjustments:
Intangible amortization
approx
$
14
approx
$
55
Equity income of unconsolidated
subsidiaries
approx
1
approx
4
Adjusted operating income
approx
Up 3% - 5%
approx
Up 6% - 9%
Net income from continuing operations—as
reported
approx
$155 - $158
approx
$726 - $751
Adjustments to operating income
approx
14
approx
55
Income tax adjustments
approx
(2
)
approx
(9
)
Net income from continuing operations—as
adjusted
approx
$167 - $170
approx
$772 - $797
Continuing earnings per ordinary
share—diluted
Diluted earnings per ordinary share—as
reported
approx
$0.93 - $0.95
approx
$4.37 - $4.52
Adjustments
approx
0.07
approx
0.28
Diluted earnings per ordinary share—as
adjusted
approx
$1.00 - $1.02
approx
$4.65 - $4.80
Pentair plc and
Subsidiaries
Reconciliation of Net Sales
Growth to Core Net Sales Growth by Segment
For the Quarter and Year Ended
December 31, 2024 (Unaudited)
Q4 Net Sales Growth
Full Year Net Sales
Growth
Core
Currency
Acq. /
Div.
Total
Core
Currency
Acq. /
Div.
Total
Total Pentair
(1.2
)%
(0.1
)%
0.1
%
(1.2
)%
(0.4
)%
—
%
(0.1
)%
(0.5
)%
Flow
(4.5
)%
(0.2
)%
—
%
(4.7
)%
(4.3
)%
—
%
—
%
(4.3
)%
Water Solutions
(3.8
)%
0.1
%
(0.6
)%
(4.3
)%
(3.6
)%
(0.2
)%
(0.1
)%
(3.9
)%
Pool
4.5
%
—
%
0.7
%
5.2
%
7.0
%
0.1
%
(0.2
)%
6.9
%
Pentair plc and
Subsidiaries
Reconciliation of GAAP to
Non-GAAP Financial Measures for the Year Ended December 31,
2023
Excluding the Effect of
Adjustments (Unaudited)
In millions, except per-share data
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales
$
1,028.6
$
1,082.5
$
1,008.8
$
984.6
$
4,104.5
Operating income
183.6
208.5
180.1
167.0
739.2
Return on sales
17.8
%
19.3
%
17.9
%
17.0
%
18.0
%
Adjustments:
Restructuring and other
2.9
0.6
1.6
(1.7
)
3.4
Transformation costs
8.5
6.0
13.5
16.3
44.3
Intangible amortization
13.8
13.9
13.8
13.8
55.3
Legal accrual adjustments and
settlements
(1.9
)
4.1
—
—
2.2
Asset impairment and write-offs
3.9
0.5
1.8
1.7
7.9
Equity income of unconsolidated
subsidiaries
0.2
0.6
1.3
0.7
2.8
Adjusted operating income
211.0
234.2
212.1
197.8
855.1
Adjusted return on sales
20.5
%
21.6
%
21.0
%
20.1
%
20.8
%
Net income from continuing operations—as
reported
128.5
154.2
132.1
208.1
622.9
Pension and other post-retirement
mark-to-market loss
—
—
—
6.1
6.1
Other income
—
(5.1
)
—
—
(5.1
)
Adjustments to operating income
27.2
25.1
30.7
30.1
113.1
Income tax adjustments (1)
(4.6
)
(3.1
)
(6.6
)
(98.5
)
(112.8
)
Net income from continuing operations—as
adjusted
$
151.1
$
171.1
$
156.2
$
145.8
$
624.2
Continuing earnings per ordinary
share—diluted
Diluted earnings per ordinary share—as
reported
$
0.78
$
0.93
$
0.79
$
1.25
$
3.75
Adjustments
0.13
0.10
0.15
(0.38
)
—
Diluted earnings per ordinary share—as
adjusted
$
0.91
$
1.03
$
0.94
$
0.87
$
3.75
(1)
Income tax adjustments in the fourth
quarter include $74.3 million resulting from favorable impacts of
worthless stock deductions related to exiting certain businesses in
our Water Solutions segment and favorable discrete items primarily
related to the recognition of deferred tax assets.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250204051811/en/
Shelly Hubbard Vice President, Investor Relations Direct:
763-656-5575 Email: shelly.hubbard@pentair.com
Rebecca Osborn Sr. Director, Communications Direct: 763-656-5589
Email: rebecca.osborn@pentair.com
Pentair (NYSE:PNR)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Pentair (NYSE:PNR)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
