Pentair Q1 2021 Earnings Report
Key Takeaways
Pentair reported a strong first quarter in 2021, with sales up 22% to $866 million and adjusted EPS up to $0.81. The company is raising its full-year guidance, expecting continued growth and recovery.
First quarter sales reached $866 million, a 22% increase year-over-year.
GAAP EPS was $0.78, and adjusted EPS was $0.81.
Core sales grew by 19% excluding currency translation, acquisitions, and divestitures.
The company updated its full year 2021 GAAP EPS guidance to approximately $2.65 to $2.80 and on an adjusted basis to approximately $2.80 to $2.95.
Pentair
Pentair
Pentair Revenue by Segment
Forward Guidance
The company updates its estimated 2021 GAAP EPS from continuing operations to approximately $2.65 to $2.80 and on an adjusted EPS basis of approximately $2.80 to $2.95. The company updates full year 2021 sales guidance to up approximately 6 to 11 percent on a reported basis.
Positive Outlook
- Full year 2021 sales guidance to up approximately 6 to 11 percent on a reported basis.
- The company expects full year free cash flow of greater than or equal to 100 percent of net income.
- Second quarter sales to be up approximately 13 to 16 percent on a reported basis compared to the second quarter of 2020.
- Second quarter 2021 GAAP EPS from continuing operations guidance of $0.65 to $0.70
- Second quarter 2021 adjusted EPS basis of $0.69 to $0.74.
Revenue & Expenses
Visualization of income flow from segment revenue to net income