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Jun 30, 2024
Pentair Q2 2024 Earnings Report
Pentair reported strong second quarter results with sales up 2 percent and operating income increased 19 percent.
Key Takeaways
Pentair announced second quarter 2024 sales of $1.1 billion, a 2% increase compared to the same period last year. EPS increased to $1.11, and adjusted EPS rose to $1.22. The company is updating its full year 2024 GAAP EPS guidance to approximately $3.81 and on an adjusted basis to approximately $4.25.
Sales of $1.1 billion, up 2 percent compared to sales for the same period last year
Operating income increased 19 percent to $248 million, reflecting ROS of 22.6 percent
GAAP EPS increased 19 percent to $1.11 and adjusted EPS rose 18 percent to $1.22
Free cash flow was $522 million, an increase of $90 million compared to the same period last year
Pentair
Pentair
Pentair Revenue by Segment
Revenue by Segment
Flow Revenue
CapyFin.comWater Solutions Revenue
CapyFin.comPool Revenue
CapyFin.comCorporate & Other Revenue
CapyFin.com Forward Guidance
The company updates its estimated 2024 GAAP EPS from continuing operations to approximately $3.81 and updates its guidance on an adjusted EPS basis to approximately $4.25. The Company anticipates full year 2024 sales to be roughly flat to down 1 percent on a reported basis. In addition, the company introduces third quarter 2024 GAAP EPS from continuing operations guidance of approximately $0.99 to $1.01 and on an adjusted EPS basis of approximately $1.06 to $1.08. The company expects third quarter sales to be down approximately 2 percent to 3 percent on a reported basis compared to the third quarter of 2023.
Positive Outlook
- Stronger margin expansion expected despite macroeconomic uncertainty.
- Transformation and 80/20 initiatives expected to drive strategic decisions and operational efficiencies.
- Focus on investing in the long-term growth of Pentair.
- Confident in resilient strategy and capital allocation priorities.
- Well positioned to capture opportunities from favorable secular trends.
Challenges Ahead
- Continued global macroeconomic and geopolitical uncertainty.
- Pressuring sales in the second half of 2024.
- Third quarter sales expected to be down approximately 2 percent to 3 percent on a reported basis.
- Uncertainty impacting business conditions.
- Volatility in currency exchange rates and interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income