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Mar 31, 2023
Pentair Q1 2023 Earnings Report
Pentair reported strong first quarter results with sales up 3 percent and adjusted EPS rising 7 percent.
Key Takeaways
Pentair's first quarter 2023 results showed sales of $1.0 billion, a 3% increase year-over-year. Operating income increased by 26% to $184 million, and adjusted EPS rose by 7% to $0.91. The company has updated its full year 2023 GAAP EPS guidance to approximately $3.25 to $3.35 and on an adjusted basis to approximately $3.60 to $3.70.
Sales of $1.0 billion, up 3 percent compared to sales for the same period last year.
Operating income increased 26 percent to $184 million reflecting ROS of 17.8 percent, an increase of 320 basis points when compared to first quarter of 2022; on an adjusted basis, ROS expanded 330 basis points to 20.5 percent.
GAAP EPS increased 10 percent to $0.78 compared to the same period last year and adjusted EPS rose 7 percent to $0.91 compared to the same period last year.
The company updates its full year 2023 GAAP EPS guidance to approximately $3.25 to $3.35 and on an adjusted basis to approximately $3.60 to $3.70.
Revenue by Segment
Forward Guidance
The company updates its estimated 2023 GAAP EPS from continuing operations to approximately $3.25 to $3.35 and on an adjusted EPS basis to approximately $3.60 to $3.70. The company updates full year 2023 sales guidance to be down approximately 2 percent to flat on a reported basis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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