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Sep 30, 2022
Pentair Q3 2022 Earnings Report
Pentair reported solid third-quarter results with near double-digit sales growth and strong segment income and adjusted EPS gains, driven by price increases outpacing inflation.
Key Takeaways
Pentair announced third quarter 2022 sales of $1.06 billion, a 9% increase compared to the same period last year. GAAP EPS was $0.70, and adjusted EPS was $0.99. The company has updated its full year 2022 GAAP EPS guidance to approximately $3.01 and adjusted EPS guidance to approximately $3.65.
Third quarter sales reached $1.06 billion.
Third quarter GAAP EPS was $0.70, and adjusted EPS was $0.99.
The company updates its full year 2022 GAAP EPS guidance to approximately $3.01 and on an adjusted basis to approximately $3.65.
Core sales grew 4 percent in the third quarter, excluding currency translation, acquisitions, and divestitures.
Revenue by Segment
Forward Guidance
The company updates its estimated 2022 GAAP EPS to approximately $3.01 and on an adjusted EPS basis to approximately $3.65. The company updates full year 2022 sales guidance to be up approximately 9 percent on a reported basis. In addition, the company introduces fourth quarter 2022 GAAP EPS guidance of approximately $0.68 and on an adjusted EPS basis of approximately $0.79. The company expects fourth quarter sales to be approximately flat on a reported basis compared to the fourth quarter of 2021.
Positive Outlook
- Pricing carryover
- Accretion from Manitowoc Ice
- Reduced manufacturing inefficiencies that have been an ongoing issue in 2022
- Transformation initiatives gaining momentum
- Well positioned to grow next year
Challenges Ahead
- Acceleration of inventory correction in residential channels
- Headwinds from foreign exchange
- Higher interest rates
Historical Earnings Impact
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Avg. Return Before/After Earnings
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