Pentair Reports Strong Fourth Quarter and Full Year 2025 Results
Key Terms
return on sales financial
basis points financial
core sales financial
-
Fourth quarter sales of
$1 $4.2 billion -
Operating income in the fourth quarter increased 5 percent to
$205 million reflecting ROS of 20.1 percent, flat compared to the fourth quarter of 2024; on an adjusted basis, ROS expanded 90 basis points to 24.7 percent. Full year operating income increased 7 percent to$858 million -
Fourth quarter GAAP EPS of
$0.98 $1.18 $3.93 $4.92 -
Full year net cash provided by operating activities of continuing operations was
$815 million $48 million $748 million $55 million -
The Company introduces 2026 GAAP EPS guidance of approximately
$4.94 $5.09 $5.25 $5.40 - 2026 will mark the 50th consecutive year of dividend increases.
Reconciliations of GAAP to Non-GAAP measures are in the attached financial tables.
Fourth quarter 2025 operating income was
“2025 was another remarkable year of performance at Pentair which was led by our mission to help the world sustainably move, improve and enjoy water, life’s most essential resource,” said John L. Stauch, Pentair’s President and Chief Executive Officer. “Our teams continued to execute with clarity and agility to deliver value to our customers and shareholders. We delivered strong cash flow, invested in growth initiatives across our balanced water portfolio and maintained a solid balance sheet. In 2026, we are celebrating our 60th anniversary as a company and 50 consecutive years of rising dividends. This morning we announced two new executive leadership roles at the company to help further accelerate our growth strategy, better align our residential Flow and Water Solutions businesses with our distribution channels, improve customer experiences, enhance operational efficiencies and deliver more comprehensive solutions. I am excited about what is ahead. Our future is bright.”
Full year 2025 sales were
Full year 2025 operating income was
Flow sales were up 9 percent in the fourth quarter of 2025 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
Flow sales were up 3 percent for the full year of 2025 compared to sales for 2024. Excluding currency translation, acquisitions and divestitures, core sales grew 1 percent in 2025. Reportable segment income of
Water Solutions sales were down 10 percent in the fourth quarter of 2025 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
Water Solutions sales were down 6 percent for the full year of 2025 compared to sales for 2024. Excluding currency translation, acquisitions and divestitures, core sales declined 3 percent in 2025. Reportable segment income of
Pool sales were up 11 percent in the fourth quarter of 2025 compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 9 percent in the fourth quarter. Reportable segment income of
Pool sales were up 9 percent for the full year of 2025 compared to sales for 2024. Excluding currency translation, acquisitions and divestitures, core sales grew 7 percent in 2025. Reportable segment income of
Full year net cash provided by operating activities of continuing operations was
Pentair paid a regular cash dividend of
During the fourth quarter, the company repurchased 0.5 million shares for
OUTLOOK
Mr. Stauch concluded, “We expect 2026 to deliver another year of sales and earnings growth and margin expansion as we leverage our Pentair Business System tools, including Transformation and 80/20, and continue to actively manage our balanced and resilient water portfolio. We believe we are in a solid financial position and expect to continue our disciplined capital allocation strategy as we invest in future growth across our businesses. We look forward to providing an update on our long-term outlook at our upcoming Investor Day on March 4th where you will hear more about our growth initiatives, the Pentair Business System, award-winning product launches and innovation.”
The Company is introducing 2026 GAAP EPS guidance of approximately
In addition, the Company introduces first quarter 2026 GAAP EPS of approximately
EARNINGS CONFERENCE CALL
Pentair President and Chief Executive Officer John L. Stauch, outgoing Chief Financial Officer Robert P. Fishman and incoming Chief Financial Officer Nick Brazis will discuss the Company’s fourth quarter and full year 2025 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
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 2025 of approximately
Pentair plc and Subsidiaries |
|||||||||||||
Condensed Consolidated Statements of Operations (Unaudited) |
|||||||||||||
|
|
|
|
|
|
||||||||
Three months ended |
Twelve months ended |
||||||||||||
In millions, except per-share data |
December 31,
|
December 31,
|
December 31,
|
December 31,
|
|||||||||
Net sales |
$ |
1,020.5 |
|
$ |
972.9 |
|
|
$ |
4,176.0 |
|
$ |
4,082.8 |
|
Cost of goods sold |
|
608.7 |
|
|
595.3 |
|
|
|
2,485.7 |
|
|
2,484.0 |
|
Gross profit |
|
411.8 |
|
|
377.6 |
|
|
|
1,690.3 |
|
|
1,598.8 |
|
% of net sales |
|
40.4 |
% |
|
38.8 |
% |
|
|
40.5 |
% |
|
39.2 |
% |
Selling, general and administrative |
|
184.3 |
|
|
160.7 |
|
|
|
736.9 |
|
|
701.4 |
|
% of net sales |
|
18.1 |
% |
|
16.5 |
% |
|
|
17.6 |
% |
|
17.2 |
% |
Research and development |
|
22.5 |
|
|
21.8 |
|
|
|
95.9 |
|
|
93.6 |
|
% of net sales |
|
2.2 |
% |
|
2.2 |
% |
|
|
2.3 |
% |
|
2.3 |
% |
Operating income |
|
205.0 |
|
|
195.1 |
|
|
|
857.5 |
|
|
803.8 |
|
% of net sales |
|
20.1 |
% |
|
20.1 |
% |
|
|
20.5 |
% |
|
19.7 |
% |
Other expense (income) |
|
|
|
|
|
||||||||
Loss on sale of business |
|
— |
|
|
— |
|
|
|
26.3 |
|
|
— |
|
Other expense (income) |
|
3.2 |
|
|
(4.5 |
) |
|
|
5.3 |
|
|
(3.7 |
) |
Net interest expense |
|
17.4 |
|
|
15.2 |
|
|
|
69.4 |
|
|
88.6 |
|
% of net sales |
|
1.7 |
% |
|
1.6 |
% |
|
|
1.7 |
% |
|
2.2 |
% |
Income from continuing operations before income taxes |
|
184.4 |
|
|
184.4 |
|
|
|
756.5 |
|
|
718.9 |
|
Provision for income taxes |
|
22.6 |
|
|
18.0 |
|
|
|
107.0 |
|
|
93.3 |
|
Effective tax rate |
|
12.3 |
% |
|
9.8 |
% |
|
|
14.1 |
% |
|
13.0 |
% |
Net income from continuing operations |
|
161.8 |
|
|
166.4 |
|
|
|
649.5 |
|
|
625.6 |
|
Income (loss) from discontinued operations, net of tax |
|
4.3 |
|
|
— |
|
|
|
4.3 |
|
|
(0.2 |
) |
Net income |
$ |
166.1 |
|
$ |
166.4 |
|
|
$ |
653.8 |
|
$ |
625.4 |
|
Earnings per ordinary share |
|
|
|
|
|
||||||||
Basic |
|
|
|
|
|
||||||||
Continuing operations |
$ |
0.99 |
|
$ |
1.01 |
|
|
$ |
3.96 |
|
$ |
3.78 |
|
Discontinued operations |
|
0.03 |
|
|
— |
|
|
|
0.03 |
|
|
— |
|
Basic earnings per ordinary share |
$ |
1.02 |
|
$ |
1.01 |
|
|
$ |
3.99 |
|
$ |
3.78 |
|
Diluted |
|
|
|
|
|
||||||||
Continuing operations |
$ |
0.98 |
|
$ |
0.99 |
|
|
$ |
3.93 |
|
$ |
3.74 |
|
Discontinued operations |
|
0.03 |
|
|
— |
|
|
|
0.03 |
|
|
— |
|
Diluted earnings per ordinary share |
$ |
1.01 |
|
$ |
0.99 |
|
|
$ |
3.96 |
|
$ |
3.74 |
|
Weighted average ordinary shares outstanding |
|
|
|
|
|
||||||||
Basic |
|
163.4 |
|
|
165.2 |
|
|
|
164.1 |
|
|
165.6 |
|
Diluted |
|
164.7 |
|
|
166.8 |
|
|
|
165.5 |
|
|
167.1 |
|
Cash dividends paid per ordinary share |
$ |
0.25 |
|
$ |
0.23 |
|
|
$ |
1.00 |
|
$ |
0.92 |
|
Pentair plc and Subsidiaries |
||||
Condensed Consolidated Balance Sheets (Unaudited) |
||||
|
|
|
||
|
December 31,
|
December 31,
|
||
In millions |
||||
Assets |
||||
Current assets |
|
|
||
Cash and cash equivalents |
$ |
101.6 |
$ |
118.7 |
Accounts receivable, net |
|
673.2 |
|
565.2 |
Inventories |
|
632.6 |
|
610.9 |
Other current assets |
|
134.4 |
|
141.3 |
Total current assets |
|
1,541.8 |
|
1,436.1 |
Property, plant and equipment, net |
|
376.8 |
|
358.8 |
Other assets |
|
|
||
Goodwill |
|
3,538.1 |
|
3,286.6 |
Intangibles, net |
|
1,073.3 |
|
1,033.8 |
Other non-current assets |
|
338.8 |
|
331.2 |
Total other assets |
|
4,950.2 |
|
4,651.6 |
Total assets |
$ |
6,868.8 |
$ |
6,446.5 |
Liabilities and Equity |
||||
Current liabilities |
|
|
||
Current maturities of short-term borrowings |
$ |
— |
$ |
9.3 |
Accounts payable |
|
301.5 |
|
272.8 |
Employee compensation and benefits |
|
120.1 |
|
116.2 |
Other current liabilities |
|
537.7 |
|
496.8 |
Total current liabilities |
|
959.3 |
|
895.1 |
Other liabilities |
|
|
||
Long-term debt |
|
1,638.6 |
|
1,638.7 |
Pension and other post-retirement compensation and benefits |
|
58.8 |
|
61.6 |
Deferred tax liabilities |
|
47.5 |
|
44.4 |
Other non-current liabilities |
|
295.4 |
|
243.8 |
Total liabilities |
|
2,999.6 |
|
2,883.6 |
Equity |
|
3,869.2 |
|
3,562.9 |
Total liabilities and equity |
$ |
6,868.8 |
$ |
6,446.5 |
Pentair plc and Subsidiaries |
||||||
Condensed Consolidated Statements of Cash Flows (Unaudited) |
||||||
|
||||||
|
Years ended December 31 |
|||||
In millions |
|
2025 |
|
|
2024 |
|
Operating activities |
|
|
||||
Net income |
$ |
653.8 |
|
$ |
625.4 |
|
(Income) loss from discontinued operations, net of tax |
|
(4.3 |
) |
|
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 |
|
(1.0 |
) |
|
(1.9 |
) |
Depreciation |
|
59.6 |
|
|
60.3 |
|
Amortization |
|
58.1 |
|
|
54.3 |
|
Deferred income taxes |
|
(4.3 |
) |
|
(11.4 |
) |
Loss on sale of business |
|
26.3 |
|
|
— |
|
Share-based compensation |
|
37.0 |
|
|
39.7 |
|
Asset impairment and write-offs |
|
49.1 |
|
|
17.6 |
|
Pension and other post-retirement expense |
|
6.9 |
|
|
0.1 |
|
Pension and other post-retirement contributions |
|
(10.6 |
) |
|
(12.0 |
) |
Changes in assets and liabilities, net of effects of business acquisitions |
|
|
||||
Accounts receivable |
|
(93.1 |
) |
|
(11.2 |
) |
Inventories |
|
(36.9 |
) |
|
53.6 |
|
Other current assets |
|
(0.7 |
) |
|
14.1 |
|
Accounts payable |
|
20.5 |
|
|
(3.7 |
) |
Employee compensation and benefits |
|
(3.7 |
) |
|
(5.0 |
) |
Other current liabilities |
|
26.1 |
|
|
(48.7 |
) |
Other non-current assets and liabilities |
|
32.0 |
|
|
(4.5 |
) |
Net cash provided by operating activities of continuing operations |
|
814.8 |
|
|
766.9 |
|
Net cash used for operating activities of discontinued operations |
|
— |
|
|
(0.2 |
) |
Net cash provided by operating activities |
|
814.8 |
|
|
766.7 |
|
Investing activities |
|
|
||||
Capital expenditures |
|
(68.8 |
) |
|
(74.4 |
) |
Purchase of investments |
|
(18.0 |
) |
|
— |
|
Proceeds from sale of property and equipment |
|
2.4 |
|
|
0.6 |
|
Payments upon the settlement of net investment hedges |
|
(28.9 |
) |
|
(5.8 |
) |
Acquisitions, net of cash acquired |
|
(292.1 |
) |
|
(108.0 |
) |
Other |
|
0.9 |
|
|
— |
|
Net cash used for investing activities |
|
(404.5 |
) |
|
(187.6 |
) |
Financing activities |
|
|
||||
Net (repayments) receipts of short-term borrowings |
|
(9.3 |
) |
|
9.3 |
|
Net borrowings of revolving long-term debt |
|
268.2 |
|
|
9.5 |
|
Repayments of long-term debt |
|
(269.3 |
) |
|
(362.5 |
) |
Debt issuance costs |
|
(2.2 |
) |
|
— |
|
Shares issued to employees, net of shares withheld |
|
(0.6 |
) |
|
18.4 |
|
Repurchases of ordinary shares |
|
(225.0 |
) |
|
(150.0 |
) |
Dividends paid |
|
(164.3 |
) |
|
(152.3 |
) |
Payments upon the settlement of cross currency swaps |
|
— |
|
|
(9.1 |
) |
Net cash used for financing activities |
|
(402.5 |
) |
|
(636.7 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
(24.9 |
) |
|
6.0 |
|
Change in cash and cash equivalents |
|
(17.1 |
) |
|
(51.6 |
) |
Cash and cash equivalents, beginning of year |
|
118.7 |
|
|
170.3 |
|
Cash and cash equivalents, end of year |
$ |
101.6 |
|
$ |
118.7 |
|
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 |
|
2025 |
|
|
2024 |
|
Net cash provided by operating activities of continuing operations |
$ |
814.8 |
|
$ |
766.9 |
|
Capital expenditures |
|
(68.8 |
) |
|
(74.4 |
) |
Proceeds from sale of property and equipment |
|
2.4 |
|
|
0.6 |
|
Free cash flow from continuing operations |
$ |
748.4 |
|
$ |
693.1 |
|
Net cash used for operating activities of discontinued operations |
|
— |
|
|
(0.2 |
) |
Free cash flow |
$ |
748.4 |
|
$ |
692.9 |
|
Pentair plc and Subsidiaries |
|||||||||||||||
Supplemental Financial Information by Reportable Segment (Unaudited) |
|||||||||||||||
|
|
|
|
|
|
||||||||||
|
2025 |
|
|||||||||||||
In millions |
First
|
Second
|
Third
|
Fourth
|
Full
|
||||||||||
Net sales |
|
|
|
|
|
||||||||||
Flow |
$ |
367.9 |
|
$ |
397.3 |
|
$ |
394.0 |
|
$ |
394.4 |
|
$ |
1,553.6 |
|
Water Solutions |
|
258.2 |
|
|
298.3 |
|
|
273.3 |
|
|
232.3 |
|
|
1,062.1 |
|
Pool |
|
383.9 |
|
|
427.2 |
|
|
354.3 |
|
|
393.4 |
|
|
1,558.8 |
|
Reportable segment net sales |
|
1,010.0 |
|
|
1,122.8 |
|
|
1,021.6 |
|
|
1,020.1 |
|
|
4,174.5 |
|
Corporate and other |
|
0.4 |
|
|
0.3 |
|
|
0.4 |
|
|
0.4 |
|
|
1.5 |
|
Net Sales |
$ |
1,010.4 |
|
$ |
1,123.1 |
|
$ |
1,022.0 |
|
$ |
1,020.5 |
|
$ |
4,176.0 |
|
Reportable segment income (loss) |
|
|
|
|
|
||||||||||
Flow |
$ |
83.6 |
|
$ |
93.1 |
|
$ |
95.3 |
|
$ |
90.1 |
|
$ |
362.1 |
|
Water Solutions |
|
60.7 |
|
|
70.2 |
|
|
68.4 |
|
|
54.6 |
|
|
253.9 |
|
Pool |
|
126.0 |
|
|
152.7 |
|
|
116.2 |
|
|
132.2 |
|
|
527.1 |
|
Reportable segment income |
|
270.3 |
|
|
316.0 |
|
|
279.9 |
|
|
276.9 |
|
|
1,143.1 |
|
Corporate and other |
|
(27.8 |
) |
|
(19.3 |
) |
|
(17.3 |
) |
|
(25.2 |
) |
|
(89.6 |
) |
Adjusted operating income |
$ |
242.5 |
|
$ |
296.7 |
|
$ |
262.6 |
|
$ |
251.7 |
|
$ |
1,053.5 |
|
Return on sales |
|
|
|
|
|
||||||||||
Flow |
|
22.7 |
% |
|
23.4 |
% |
|
24.2 |
% |
|
22.8 |
% |
|
23.3 |
% |
Water Solutions |
|
23.5 |
% |
|
23.5 |
% |
|
25.0 |
% |
|
23.5 |
% |
|
23.9 |
% |
Pool |
|
32.8 |
% |
|
35.7 |
% |
|
32.8 |
% |
|
33.6 |
% |
|
33.8 |
% |
Adjusted return on sales |
|
24.0 |
% |
|
26.4 |
% |
|
25.7 |
% |
|
24.7 |
% |
|
25.2 |
% |
|
|
|
|
|
|
||||||||||
|
2024 |
|
|||||||||||||
In millions |
First
|
Second
|
Third
|
Fourth
|
Full
|
||||||||||
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 |
% |
Pentair plc and Subsidiaries |
|||||||||||||||
Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ended December 31, 2025 |
|||||||||||||||
Excluding the Effect of Adjustments (Unaudited) |
|||||||||||||||
|
|
|
|
|
|
||||||||||
In millions, except per-share data |
First
|
Second
|
Third
|
Fourth
|
Full
|
||||||||||
Net sales |
$ |
1,010.4 |
|
$ |
1,123.1 |
|
$ |
1,022.0 |
|
$ |
1,020.5 |
|
$ |
4,176.0 |
|
Operating income |
|
203.1 |
|
|
217.7 |
|
|
231.7 |
|
|
205.0 |
|
|
857.5 |
|
Return on sales |
|
20.1 |
% |
|
19.4 |
% |
|
22.7 |
% |
|
20.1 |
% |
|
20.5 |
% |
Adjustments: |
|
|
|
|
|||||||||||
Restructuring and other |
|
10.5 |
|
|
10.4 |
|
|
0.2 |
|
|
10.2 |
|
|
31.3 |
|
Transformation costs |
|
9.1 |
|
|
12.5 |
|
|
10.8 |
|
|
8.4 |
|
|
40.8 |
|
Intangible amortization |
|
14.2 |
|
|
14.3 |
|
|
13.9 |
|
|
15.7 |
|
|
58.1 |
|
Legal accrual adjustments and settlements |
|
— |
|
|
— |
|
|
— |
|
|
11.6 |
|
|
11.6 |
|
Asset impairment and write-offs |
|
5.2 |
|
|
41.8 |
|
|
1.5 |
|
|
0.6 |
|
|
49.1 |
|
Deal-related costs and expenses |
|
— |
|
|
— |
|
|
4.1 |
|
|
— |
|
|
4.1 |
|
Equity income of unconsolidated subsidiaries |
|
0.4 |
|
|
— |
|
|
0.4 |
|
|
0.2 |
|
|
1.0 |
|
Adjusted operating income |
|
242.5 |
|
|
296.7 |
|
|
262.6 |
|
|
251.7 |
|
|
1,053.5 |
|
Adjusted return on sales |
|
24.0 |
% |
|
26.4 |
% |
|
25.7 |
% |
|
24.7 |
% |
|
25.2 |
% |
Net income from continuing operations—as reported |
|
154.9 |
|
|
148.5 |
|
|
184.3 |
|
|
161.8 |
|
|
649.5 |
|
Loss on sale of business |
|
— |
|
|
26.3 |
|
|
— |
|
|
— |
|
|
26.3 |
|
Pension and other post-retirement mark-to-market loss |
|
— |
|
|
— |
|
|
— |
|
|
2.4 |
|
|
2.4 |
|
Adjustments to operating income |
|
39.0 |
|
|
79.0 |
|
|
30.5 |
|
|
46.5 |
|
|
195.0 |
|
Income tax adjustments |
|
(9.7 |
) |
|
(23.3 |
) |
|
(9.5 |
) |
|
(16.0 |
) |
|
(58.5 |
) |
Net income from continuing operations—as adjusted |
$ |
184.2 |
|
$ |
230.5 |
|
$ |
205.3 |
|
$ |
194.7 |
|
$ |
814.7 |
|
Continuing earnings per ordinary share—diluted |
|
|
|
|
|
||||||||||
Diluted earnings per ordinary share—as reported |
$ |
0.93 |
|
$ |
0.90 |
|
$ |
1.12 |
|
$ |
0.98 |
|
$ |
3.93 |
|
Adjustments |
|
0.18 |
|
|
0.49 |
|
|
0.12 |
|
|
0.20 |
|
|
0.99 |
|
Diluted earnings per ordinary share—as adjusted |
$ |
1.11 |
|
$ |
1.39 |
|
$ |
1.24 |
|
$ |
1.18 |
|
$ |
4.92 |
|
Pentair plc and Subsidiaries |
|||||||
Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ending December 31, 2026 |
|||||||
Excluding the Effect of Adjustments (Unaudited) |
|||||||
|
|
|
|
|
|
||
|
Forecast |
||||||
In millions, except per-share data |
|
First
|
Full
|
||||
Net sales |
|
approx |
Up |
approx |
Up |
||
Operating income |
|
approx |
Up |
approx |
Up |
||
Adjustments: |
|
|
|
|
|||
Intangible amortization |
|
approx |
|
approx |
|
||
Equity income of unconsolidated subsidiaries |
|
approx |
1 |
approx |
4 |
||
Adjusted operating income |
|
approx |
Up |
approx |
Up |
||
|
|
|
|
|
|
||
Net income from continuing operations—as reported |
|
approx |
|
approx |
|
||
Adjustments to operating income |
|
approx |
16 |
|
approx |
62 |
|
Income tax adjustments |
|
approx |
(3 |
) |
approx |
(11 |
) |
Net income from continuing operations—as adjusted |
|
approx |
|
approx |
|
||
Continuing earnings per ordinary share—diluted |
|
|
|
|
|
||
Diluted earnings per ordinary share—as reported |
|
approx |
|
approx |
|
||
Adjustments |
|
approx |
0.08 |
|
approx |
0.31 |
|
Diluted earnings per ordinary share—as adjusted |
|
approx |
|
approx |
|
||
Pentair plc and Subsidiaries |
|||||||||||||||||
Reconciliation of Net Sales Growth to Core Net Sales Growth by Reportable Segment |
|||||||||||||||||
For the Quarter and Year Ended December 31, 2025 (Unaudited) |
|||||||||||||||||
|
|
|
|
|
|
||||||||||||
|
Q4 Net Sales Growth |
|
Full Year Net Sales Growth |
||||||||||||||
|
Core |
Currency |
Acq. / Div. |
Total |
|
Core |
Currency |
Acq. / Div. |
Total |
||||||||
Total Pentair |
3.7 |
% |
1.4 |
% |
(0.2 |
)% |
4.9 |
% |
|
1.9 |
% |
0.5 |
% |
(0.1 |
)% |
2.3 |
% |
Flow |
4.0 |
% |
2.9 |
% |
2.4 |
% |
9.3 |
% |
|
0.8 |
% |
1.1 |
% |
0.7 |
% |
2.6 |
% |
Water Solutions |
(3.7 |
)% |
1.1 |
% |
(7.3 |
)% |
(9.9 |
)% |
|
(2.6 |
)% |
0.5 |
% |
(4.0 |
)% |
(6.1 |
)% |
Pool |
8.9 |
% |
0.1 |
% |
2.2 |
% |
11.2 |
% |
|
6.5 |
% |
— |
% |
2.0 |
% |
8.5 |
% |
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
|
Second
|
Third
|
Fourth
|
Full
|
||||||||||
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 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260203960993/en/
PENTAIR CONTACTS:
Shelly Hubbard
Vice President, Investor Relations
Direct: 763-656-5575
Email: shelly.hubbard@pentair.com
Rebecca Osborn
Vice President, Communications
Direct: 763-656-5589
Email: rebecca.osborn@pentair.com
Source: Pentair plc
