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Dec 31, 2023
Pentair Q4 2023 Earnings Report
Pentair reported strong Q4 and full year results, driven by a balanced portfolio and focused growth strategy.
Key Takeaways
Pentair reported Q4 2023 sales of $985 million. EPS was $1.25, and adjusted EPS was $0.87. Operating income increased by 50% to $167 million, reflecting a ROS of 17.0%. The company introduces 2024 GAAP EPS guidance of $3.82 to $3.92 and adjusted EPS guidance of $4.15 to $4.25.
Fourth quarter sales were $985 million; full year 2023 sales were $4.1 billion.
Operating income in the fourth quarter increased 50 percent to $167 million with a ROS of 17.0 percent.
Fourth quarter GAAP EPS was $1.25 and adjusted EPS was $0.87.
Full year net cash provided by operating activities of continuing operations was $621 million and free cash flow was $550 million.
Pentair
Pentair
Pentair Revenue by Segment
Revenue by Segment
Water Solutions Revenue
CapyFin.comPool Revenue
CapyFin.comCorporate & Other Revenue
CapyFin.com Forward Guidance
The Company is introducing 2024 GAAP EPS guidance of approximately $3.82 to $3.92 and on an adjusted basis of approximately $4.15 to $4.25. The Company anticipates full year 2024 sales to increase 2 percent to 3 percent on a reported basis.
Positive Outlook
- Committed to driving growth, profitability and returns
- Focusing on mission to help the world sustainably move, improve, and enjoy water
- Investing in key areas to drive long-term growth
- Optimizing sourcing and operational footprint
- Expect to continue to drive further margin expansion in 2024
Challenges Ahead
- Includes a $0.07 negative impact, primarily driven by changes in global tax standards.
- Expects first quarter sales to be down approximately 2 percent to 3 percent on a reported basis compared to first quarter 2023.
- Overall global economic and business conditions impacting our business, including the strength of housing and related markets and conditions relating to international hostilities
- Supply, demand, logistics, competition and pricing pressures related to and in the markets we serve
- Volatility in currency exchange rates and interest rates
Revenue & Expenses
Visualization of income flow from segment revenue to net income