Pentair Q2 2022 Earnings Report
Key Takeaways
Pentair announced second quarter 2022 sales of $1.06 billion, up 13 percent compared to the same period last year. GAAP EPS was $0.92 and adjusted EPS was $1.02. The company updates its full year 2022 GAAP EPS guidance to approximately $3.40 to $3.45 and on an adjusted basis to approximately $3.70 to $3.75.
Second quarter sales of $1.06 billion.
Second quarter GAAP EPS of $0.92 and adjusted EPS of $1.02.
Core sales grew 12 percent in the second quarter.
Company updates its full year 2022 GAAP EPS guidance to approximately $3.40 to $3.45 and on an adjusted basis to approximately $3.70 to $3.75.
Pentair
Pentair
Pentair Revenue by Segment
Forward Guidance
The company updates its estimated 2022 GAAP EPS from continuing operations to approximately $3.40 to $3.45 and on an adjusted EPS basis to approximately $3.70 to $3.75. The company updates full year 2022 sales guidance to be up approximately 8 to 10 percent on a reported basis. In addition, the company introduces third quarter 2022 GAAP EPS from continuing operations guidance of approximately $0.90 to $0.92 and on an adjusted EPS basis of approximately $0.93 to $0.95. The company expects third quarter sales to be up approximately 3 to 5 percent on a reported basis compared to the third quarter of 2021.
Challenges Ahead
- The updated guidance primarily reflects the negative impacts of foreign exchange and higher interest rates.