Pentair Q1 2020 Earnings Report
Key Takeaways
Pentair reported first-quarter sales of $710 million, a 3 percent increase compared to the same period last year. GAAP EPS were $0.43, up from $0.30 in the first quarter of 2019, and adjusted EPS were $0.52, compared to $0.43 in the first quarter of 2019. The company withdrew its 2020 guidance due to the uncertainty of the COVID-19 pandemic impact, but remains confident in its liquidity position.
First quarter sales reached $710 million, with both reported and core sales growing by 3 percent.
GAAP EPS increased to $0.43, compared to $0.30 in the first quarter of 2019.
Adjusted EPS rose to $0.52, up from $0.43 in the same period last year.
Company ended the quarter with $169 million in cash and $326 million available under its revolving credit facility, demonstrating a strong liquidity position.
Pentair
Pentair
Forward Guidance
Pentair has withdrawn its guidance for 2020 due to the uncertainty of the duration and extent of the COVID-19 pandemic impact.