Pentair plc - PNR STOCK NEWS

Pentair plc (NYSE: PNR) has announced the 2024 recipients of the Pentair Foundation's Water Grants Program. The foundation is awarding $1.15 million in grant funding to nine water-focused programs, supporting its mission to advance inclusive and sustainable communities. This continues Pentair's legacy of charitable giving, which has exceeded $80 million over the past 26 years.

The grants focus on reducing water stress, improving water quality, reducing single-use plastic water bottles, increasing water safety, and improving water-related wellbeing. Recipients include organizations such as American Forests, DigDeep, Great Riving Greening, Isla Urbana, River Partners, Safe Water Network, The Nature Conservancy, USA Swimming Foundation, and V3 Sports.

Pentair plc (NYSE: PNR) reported strong Q2 2024 results with sales of $1.1 billion, up 2% year-over-year. Operating income increased 19% to $248 million, with ROS expanding 330 basis points to 22.6%. GAAP EPS rose 19% to $1.11, while adjusted EPS increased 18% to $1.22. Free cash flow grew by $90 million to $522 million.

The company updated its full-year 2024 guidance, projecting GAAP EPS of approximately $3.81 and adjusted EPS of $4.25. Pentair's Pool segment returned to growth, and all three segments drove significant margin expansion. The company continues to focus on Transformation and 80/20 initiatives to drive operational efficiencies across its water portfolio.

Pentair plc (NYSE: PNR) and Minneapolis-St. Paul International Airport (MSP) have announced a collaboration to reduce single-use plastic waste. As the Official Water Sponsor of MSP, Pentair is installing 10 HOPE Hydration HydroStations, the first of their kind at any airport worldwide. These stations will dispense free, chilled, and filtered water while providing an interactive experience to users.

The HydroStations feature Everpure filtration technology from Pentair Water Solutions and will track real-time impact data on plastic and carbon emissions savings. MSP's current network of 80 water bottle refill stations already reduces the need for approximately 600 pounds of single-use plastic bottles daily. This partnership aims to enhance passenger experience, drive innovation, and promote sustainability at the 19th busiest airport in North America.

Pentair (NYSE:PNR) will release its Q2 2024 earnings results on July 23, 2024, before the NYSE opens. The company, known for its water and fluid control products, will also host an investor conference call at 9:00 a.m. Eastern Time on the same day.

Details for accessing the webcast and conference call are available on Pentair's Investor Relations webpage. A replay of the call will be accessible until August 20, 2024, using the provided dial-in numbers and passcode.

Pentair Pool has announced its Diamond Level sponsorship for the Step Into Swim initiative by the Pool & Hot Tub Alliance (PHTA). This partnership aims to enhance water safety awareness and provide swim lessons across North America, contributing to drowning prevention efforts. The announcement was made at the U.S. Olympic Team Swimming Trials in Indianapolis, IN, and highlights Pentair's commitment to community support and water safety education. In 2023, Step Into Swim raised over $1.4 million, funding swim lessons for 23,500 children and providing grants to more than 100 facilities across 32 states and Canada. Since its inception in 2012, the initiative has gifted over 330,000 swim lessons.

Pentair (NYSE: PNR) has announced its participation in three upcoming investor conferences. These include the KeyBanc 2024 Industrials & Basic Materials Conference on May 30, the Stifel Cross Sector Insight Conference on June 4, and Deutsche Bank’s 15th Annual Global Industrials, Materials & Building Products Conference on June 5. Key executives including Bob Fishman, John Stauch, Jerome Pedretti, and Shelly Hubbard will engage in investor meetings and presentations. Live webcasts of the presentations at the Stifel and Deutsche Bank conferences will be available on Pentair’s Investor Relations website, with replays accessible for 90 days.

Pentair Pool has announced its partnership with the 2026 Special Olympics USA Games, highlighting shared values of inclusion, equity, wellness, and community. This collaboration aligns with Pentair Pool's mission to create a better world through sustainable pool solutions and the Games' focus on inclusion and empowerment. The event, taking place in Minnesota in June 2026, will bring together over 100,000 athletes, coaches, volunteers, and fans. Pentair Pool's employees will be actively involved in key events and initiatives, supporting the Games through various volunteer opportunities. The partnership underscores Pentair's commitment to community engagement and promoting safe swimming practices.

Pentair plc (NYSE: PNR) has announced a quarterly cash dividend of $0.23 per share, to be paid on August 2, 2024. This marks the 48th consecutive year of dividend increases for the company.

Pentair plc (PNR) reported strong first-quarter 2024 results with sales of $1.0 billion and operating income of $181 million. The company's ROS was 17.8%, with adjusted EPS of $0.94. Pentair updated its full-year 2024 GAAP EPS guidance to $3.76 to $3.86 and reiterated adjusted EPS guidance of $4.15 to $4.25. The company's Transformation initiatives are on track, aiming for a return on sales goal of 24% by the end of fiscal 2026.