Pentair Q2 2021 Earnings Report
Key Takeaways
Pentair reported a strong second quarter with sales up over 30 percent and adjusted EPS growth greater than 40 percent. The company has updated its full year 2021 GAAP EPS guidance to approximately $3.13 to $3.23 and on an adjusted basis to approximately $3.30 to $3.40.
Second quarter sales reached $941 million.
GAAP EPS for the second quarter was $0.79, and adjusted EPS was $0.84.
Core sales grew 28 percent in the second quarter.
The company is increasing prices to narrow the price/cost gap in the second half of the year.
Pentair
Pentair
Pentair Revenue by Segment
Forward Guidance
The company updates its estimated 2021 GAAP EPS from continuing operations to approximately $3.13 to $3.23 and on an adjusted EPS basis to approximately $3.30 to $3.40. The company expects full year free cash flow of greater than or equal to 100 percent of net income.
Positive Outlook
- Full year 2021 sales guidance to be up approximately 21 to 23 percent on a reported basis.
- Third quarter 2021 GAAP EPS from continuing operations guidance of $0.77 to $0.81
- Third quarter 2021 adjusted EPS basis of $0.81 to $0.85.
- Third quarter sales to be up approximately 16 to 19 percent on a reported basis compared to the third quarter of 2020.
- Full year free cash flow of greater than or equal to 100 percent of net income.