Welcome to our dedicated page for Pentair news (Ticker: PNR), a resource for investors and traders seeking the latest updates and insights on Pentair stock.
Pentair plc reports recurring developments across its smart, sustainable water solutions business, including Pool, Water Solutions and Flow activities. Company news covers quarterly earnings, segment performance, dividend actions, investor conference participation and updates tied to residential, commercial and industrial water management.
Recent company updates also include connected pool equipment, service-platform integration plans, leadership and board changes, and governance matters. Pentair’s disclosures frame the business around moving, improving and enjoying water through pool equipment, filtration, water technologies and flow-related products serving customers globally.
Pentair plc (NYSE: PNR) reported first quarter 2022 sales of $1.0 billion, marking a 15% increase year-over-year. GAAP EPS was $0.71, down from $0.78 in Q1 2021, while adjusted EPS rose to $0.85 from $0.81. The company updated its 2022 GAAP EPS guidance to $3.40 to $3.50 and adjusted EPS to $3.70 to $3.80. Free cash flow was -$149 million for the quarter. Pentair anticipates second quarter sales growth of 11% to 13% compared to Q2 2021. Despite challenges in supply chains and inflation, segment income was up 5% year-over-year.
Pentair plc (NYSE:PNR) is set to release its first quarter results on April 21, 2022, before the market opens. A conference call for investors will take place at 9:00 a.m. Eastern Time on the same day. Relevant materials will be available in the "Investor Relations" section of Pentair's website before the call. In 2021, Pentair generated approximately $3.8 billion in revenue and serves customers in over 150 countries, focusing on sustainable water solutions for both residential and business sectors.
Welbilt has announced a definitive agreement to sell its Manitowoc Ice business to Pentair for approximately $1.6 billion in cash. Manitowoc Ice, which generated around $308 million in sales in 2021, designs and manufactures ice machines and equipment. The transaction is expected to close in the first half of 2022, pending regulatory approvals in the U.S., U.K., and European Union. This sale is seen as a strategic move to facilitate Welbilt's ongoing acquisition by Ali Group.
Pentair plc (NYSE: PNR) announced the acquisition of Manitowoc Ice for $1.6 billion, with a net value of approximately $1.38 billion after tax benefits. This strategic move aims to enhance Pentair’s Water Solutions platform, focusing on the foodservice industry. The acquisition is expected to contribute about $0.25 to Adjusted EPS in 2023 and $0.40 in 2025. Manitowoc Ice reported $308 million in revenue for 2021 with EBITDA margins around 30%. The deal is anticipated to close by Q2 2022, subject to regulatory approvals.
Pentair (NYSE: PNR) announced a quarterly cash dividend of $0.21 per share, payable on May 6, 2022, to shareholders on record as of April 22, 2022. This marks the 46th consecutive year of dividend increases for the company. In 2021, Pentair reported revenues of approximately $3.8 billion and employs about 11,250 individuals across more than 150 countries, focusing on sustainable water solutions.
Pentair reported fourth quarter sales of $989 million, marking a 24% increase year-over-year. The fourth quarter GAAP EPS was $0.89, up from $0.60, while adjusted EPS was $0.87 versus $0.70. For the full year, sales reached $3.76 billion, also a 25% increase, with GAAP EPS of $3.32. The company expects 2022 GAAP EPS to range between $3.54 and $3.64, and anticipates sales growth of 6-9%. Despite challenges from inflation and supply chain issues, Pentair's robust backlog and order trends indicate strong future performance.
Pentair has announced an enhanced digital experience through the introduction of Pentair Water Solutions, which integrates Pelican Water. This new platform aims to provide customized water treatment solutions to consumers, addressing issues such as hard water and contamination. The revamped website allows for a seamless experience with several contact options including online chats and virtual appointments. With a focus on personalized service, Pentair leverages local water data to tailor solutions for each household.
Pentair plc (NYSE:PNR) is set to release its fourth quarter and full year financial results on February 1, 2022, before market opening. The company will hold a conference call for investors at 9:00 AM EST. Related materials will be available on the Investor Relations section of the Pentair website. In 2020, Pentair reported a revenue of $3 billion and employs approximately 9,750 people globally, serving customers in over 150 countries.
Pentair plc (NYSE: PNR) announced a quarterly cash dividend of $0.21 per share, increasing from $0.20, payable on February 4, 2022, to shareholders of record as of January 21, 2022. This marks a 5% increase and the 46th consecutive year of dividend growth for Pentair. With $3 billion in revenue in 2020 and operating in over 150 countries, Pentair focuses on sustainable solutions for water management.
Pentair reported third quarter 2021 sales of $969 million, a 21% increase compared to the same period last year. GAAP EPS rose to $0.86 from $0.66 year-over-year. Adjusted EPS was $0.89, up from $0.70. The company updated its full-year GAAP EPS guidance to approximately $3.19 to $3.25 and adjusted EPS to $3.34 to $3.40. Operating income increased by 31% to $167 million, with a return on sales of 17.3%. However, free cash flow dropped to $165 million from $220 million in Q3 2020.