Pentair Clocks 1% Revenue Growth In Q4 Amid Mixed Segmental Performance

Anusuya Lahiri
1 min read
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In this article:

  • Pentair PLC (NYSE: PNR) reported fourth-quarter net sales growth of 1% year-over-year to $1.00 billion and core sales decline of 3%, beating the consensus of $989.55 million.

  • Adjusted EPS of $0.82 beat the consensus of $0.79.

  • Gross margin contracted by 80 bps to 32.4%, operating income decreased by 25.9% Y/Y to $111.6 million, and the margin declined by 410 bps to 11.1%.

  • Consumer Solutions sales were down 0.5% Y/Y to $626.8 million, and return on sales was 23.1%, up 150 bps.

  • Industrial & Flow Technologies sales were up 4.9% Y/Y to $375.8 million, and return on sales was 17.4%, up 240 bps.

  • The company goes ahead with the 5% quarterly dividend hike to $0.22 per share promised last December.

  • CEO John L. Stauch said, "Our diverse portfolio generated growth in both segments in 2022, which was further strengthened by our strategic acquisition of Manitowoc Ice."

  • 1Q23 Outlook: Pentair expects adjusted EPS of $0.76 - $0.78, vs. the consensus of $0.77.

  • It expects sales to be 0% - 1% Y/Y on a reported basis (consensus $1.00 billion).

  • FY23 Outlook: Pentair expects adjusted EPS of $3.50 - $3.70 vs. the consensus of $3.59. It sees sales growth of (3)% - 1% on a reported basis (consensus $4.18 billion).

  • Price Action: PNR shares are trading higher by 5.49% at $53.49 on the last check Tuesday.

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This article originally appeared on Benzinga.com

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