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Jun 30, 2021
Pentair Q2 2021 Earnings Report
Pentair's sales increased, with adjusted EPS growth, and a rise in free cash flow.
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
Revenue by Segment
Water Solutions Revenue
CapyFin.com 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.