Pentair Q3 2021 Earnings Report
Key Takeaways
Pentair reported a strong third quarter with sales up 21% to $969 million. GAAP EPS was $0.86 and adjusted EPS was $0.89. The company updated its full year 2021 GAAP EPS guidance to approximately $3.19 to $3.25 and on an adjusted basis to approximately $3.34 to $3.40.
Third quarter sales reached $969 million, a 21% increase year-over-year.
GAAP EPS for the third quarter was $0.86, while adjusted EPS was $0.89.
Operating income increased by 31% to $167 million.
The company updated its full year 2021 GAAP EPS guidance to approximately $3.19 to $3.25 and on an adjusted basis to approximately $3.34 to $3.40.
Pentair
Pentair
Pentair Revenue by Segment
Forward Guidance
The company updates its estimated 2021 GAAP EPS from continuing operations to approximately $3.19 to $3.25 and on an adjusted EPS basis to approximately $3.34 to $3.40. The company updates full year 2021 sales guidance to be up approximately 22 to 23 percent on a reported basis. The company expects full year free cash flow of greater than 100 percent of net income. In addition, the company introduces fourth quarter 2021 GAAP EPS from continuing operations guidance of $0.77 to $0.83 and on an adjusted EPS basis of $0.81 to $0.87. The company expects fourth quarter sales to be up approximately 15 to 19 percent on a reported basis compared to the fourth quarter of 2020.
Positive Outlook
- Full year 2021 sales guidance to be up approximately 22 to 23 percent on a reported basis.
- Full year free cash flow of greater than 100 percent of net income.
- Fourth quarter sales to be up approximately 15 to 19 percent on a reported basis compared to the fourth quarter of 2020.