Pentair PLC

Latest Results (17.12.2024):

Sales Performance

Pentair PLC reported third quarter 2024 sales of $993 million, which represents a 2 percent decrease compared to the same period last year. The decline in sales was primarily due to a 1 percent decrease in core sales, excluding the effects of currency translation, acquisitions, and divestitures.

Earnings Per Share

For the third quarter of 2024, Pentair PLC's earnings per diluted share from continuing operations increased by 6 percent to $0.84, compared to $0.79 in the third quarter of 2023. On an adjusted basis, the earnings per share rose by 16 percent to $1.09, up from $0.94 in the previous year.

Operating Income

Pentair PLC's operating income for the third quarter of 2024 was $180 million, which remained flat compared to the same period in 2023. However, the return on sales (ROS) improved by 20 basis points to 18.1 percent. On an adjusted basis, operating income increased by 13 percent to $239 million, with ROS expanding by 310 basis points to 24.1 percent.

Cash Flow and Dividends

During the third quarter of 2024, Pentair PLC generated net cash from operating activities of $249 million, an increase of $86 million compared to the same period last year. The company also paid a regular cash dividend of $0.23 per share, marking the 48th consecutive year of increased dividends.

Outlook and Guidance

Pentair PLC updated its full-year 2024 guidance, estimating GAAP EPS from continuing operations to be approximately $3.70 and adjusted EPS to be around $4.27, reflecting a 14 percent increase compared to 2023. The company expects fourth quarter sales to range between $965 million and $975 million, representing a 1 to 2 percent decrease compared to the fourth quarter of 2023.