Open the filing on EDGARPentair Reports Strong Fourth Quarter and Full Year 2025 Results
- Fourth quarter sales of $1,021 million, up 5 percent; full year 2025 sales of $4.2 billion, up 2 percent.
- Operating income in the fourth quarter increased 5 percent to $205 million reflecting ROS of 20.1 percent, flat compared to the fourth quarter of 2024; on an adjusted basis, ROS expanded 90 basis points to 24.7 percent. Full year operating income increased 7 percent to $858 million reflecting ROS of 20.5 percent, an increase of 80 basis points from the prior year; on an adjusted basis, ROS expanded 170 basis points to 25.2 percent.
- Fourth quarter GAAP EPS of $0.98, down 1 percent and adjusted EPS of $1.18, up 9 percent; full year 2025 GAAP EPS of $3.93, up 5 percent and adjusted EPS of $4.92, up 14 percent.
- Full year net cash provided by operating activities of continuing operations was $815 million, an increase of $48 million compared to the prior year and free cash flow provided by continuing operations for the full year was $748 million, an increase of $55 million compared to full year 2024.
- The Company introduces 2026 GAAP EPS guidance of approximately $4.94 to $5.09; and adjusted EPS guidance of approximately $5.25 to $5.40.
- 2026 will mark the 50th consecutive year of dividend increases.
Reconciliations of GAAP to Non-GAAP measures are in the attached financial tables.
LONDON, United Kingdom - February 3, 2026 - Pentair plc (NYSE: PNR) today announced fourth quarter 2025 sales of $1,021 million. Sales were up 5 percent compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 4 percent in the fourth quarter. Fourth quarter 2025 earnings per diluted share from continuing operations (“EPS”) were $0.98 compared to $0.99 in the fourth quarter of 2024. On an adjusted basis, the Company reported EPS of $1.18 in the fourth quarter compared to $1.08 in the fourth quarter of 2024. Adjusted operating income, reportable segment income, adjusted net income, free cash flow, and adjusted EPS are described in the attached schedules.
Fourth quarter 2025 operating income was $205 million, up 5 percent compared to operating income for the fourth quarter of 2024, and return on sales (“ROS”) was 20.1 percent, flat compared to the fourth quarter of 2024. On an adjusted basis, the Company reported adjusted operating income of $252 million, up 9 percent for the fourth quarter of 2025 compared to adjusted operating income for the fourth quarter of 2024, and ROS was 24.7 percent, an increase of 90 basis points when compared to the fourth quarter of 2024.
“2025 was another remarkable year of performance at Pentair which was led by our mission to help the world sustainably move, improve and enjoy water, life’s most essential resource,” said John L. Stauch, Pentair’s President and Chief Executive Officer. “Our teams continued to execute with clarity and agility to deliver value to our customers and shareholders. We delivered strong cash flow, invested in growth initiatives across our balanced water portfolio and maintained a solid balance sheet. In 2026, we are celebrating our 60th anniversary as a company and 50 consecutive years of rising dividends. This morning we announced two new executive leadership roles at the company to help further accelerate our growth strategy, better align our residential Flow and Water Solutions businesses with our distribution channels, improve customer experiences, enhance operational efficiencies and deliver more comprehensive solutions. I am excited about what is ahead. Our future is bright.”
Full year 2025 sales were $4.2 billion. Sales were up 2 percent compared to sales last year. Excluding currency translation, acquisitions and divestitures, core sales grew 2 percent in 2025. Full year 2025 EPS from continuing operations was $3.93 compared to $3.74 in 2024. On an adjusted basis, the Company reported EPS of $4.92 for 2024 compared to $4.33 in 2024.
Full year 2025 operating income was $858 million, up 7 percent compared to operating income in 2024, and ROS was 20.5 percent, an increase of 80 basis points when compared to 2024. On an adjusted basis, the Company reported adjusted operating income of $1,054 million, up 10 percent in 2025, compared to adjusted operating income in 2024, and ROS was 25.2 percent, an increase of 170 basis points when compared to 2024.
Flow sales were up 9 percent in the fourth quarter of 2025 compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 4 percent in the fourth quarter. Reportable segment income of $90 million was up 22 percent compared to the fourth quarter of 2024, and ROS was 22.8 percent, an increase of 240 basis points when compared to the fourth quarter of 2024.
Flow sales were up 3 percent for the full year of 2025 compared to sales for 2024. Excluding currency translation, acquisitions and divestitures, core sales grew 1 percent in 2025. Reportable segment income of $362 million was up 14 percent compared to 2024, and ROS was 23.3 percent, an increase of 230 basis points when compared to 2024.
Water Solutions sales were down 10 percent in the fourth quarter of 2025 compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales declined 4 percent in the fourth quarter. Reportable segment income of $55 million was down 12 percent compared to the fourth quarter of 2024, and ROS was 23.5 percent, a decrease of 60 basis points when compared to the fourth quarter of 2024.
Water Solutions sales were down 6 percent for the full year of 2025 compared to sales for 2024. Excluding currency translation, acquisitions and divestitures, core sales declined 3 percent in 2025. Reportable segment income of $254 million was flat compared to 2024, and ROS was 23.9 percent, an increase of 130 basis points when compared to 2024.
Pool sales were up 11 percent in the fourth quarter of 2025 compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales grew 9 percent in the fourth quarter. Reportable segment income of $132 million was up 11 percent compared to the fourth quarter of 2024, and ROS was 33.6 percent, a decrease of 20 basis points when compared to the fourth quarter of 2024.
Pool sales were up 9 percent for the full year of 2025 compared to sales for 2024. Excluding currency translation, acquisitions and divestitures, core sales grew 7 percent in 2025. Reportable segment income of $527 million was up 11 percent compared to 2024, and ROS was 33.8 percent, an increase of 60 basis points when compared to 2024.
Full year net cash provided by operating activities of continuing operations was $815 million and free cash flow from continuing operations was $748 million.
Pentair paid a regular cash dividend of $0.25 per share in the fourth quarter of 2025. Pentair previously announced on December 15, 2025 that it will pay a regular quarterly cash dividend of $0.27 per share on February 6, 2026 to shareholders of record at the close of business on January 23, 2026. This $0.27 per share quarterly cash dividend reflects an approximate 8 percent increase in the Company’s regular cash dividend rate as compared to $0.25 per share per quarter in 2025 and marks the 50consecutive year that Pentair has increased its dividend.
During the fourth quarter, the company repurchased 0.5 million shares for $50.0 million. During the year ended December 31, 2025, the company repurchased 2.3 million shares for $225.0 million. As of December 31, 2025, we had $1.0 billion available for share repurchases under our share repurchase authorization.
OUTLOOK
Mr. Stauch concluded, “We expect 2026 to deliver another year of sales and earnings growth and margin expansion as we leverage our Pentair Business System tools, including Transformation and 80/20, and continue to actively manage our balanced and resilient water portfolio. We believe we are in a solid financial position and expect to continue our disciplined capital allocation strategy as we invest in future growth across our businesses. We look forward to providing an update on our long-term outlook at our upcoming Investor Day on March 4th where you will hear more about our growth initiatives, the Pentair Business System, award-winning product launches and innovation.”
The Company is introducing 2026 GAAP EPS guidance of approximately $4.94 to $5.09, up 26 percent to 30 percent; and on an adjusted basis of approximately $5.25 to $5.40. This is an increase of 7 percent to 10 percent compared to 2025 adjusted EPS. The Company anticipates full year 2026 sales to be up approximately 3 percent to 4 percent on a reported basis.
In addition, the Company introduces first quarter 2026 GAAP EPS of approximately $1.07 to $1.10 and on an adjusted EPS basis of approximately $1.15 to $1.18. The Company expects first quarter sales to be up approximately 1 percent to 2 percent on a reported basis compared to first quarter 2025.
EARNINGS CONFERENCE CALL
Pentair President and Chief Executive Officer John L. Stauch, outgoing Chief Financial Officer Robert P. Fishman and incoming Chief Financial Officer Nick Brazis will discuss the Company’s fourth quarter and full year 2025 results on a conference call with investors at 9:00 a.m. Eastern today. A live audio webcast of the call, along with the related presentation, can be accessed in the Investor Relations section of the Company’s website, www.pentair.com, shortly before the call begins.
Reconciliations of non-GAAP financial measures are set forth in the attachments to this release and in the presentations, each of which can be found on Pentair’s website. The webcast and presentations will be archived at the Company’s website following the conclusion of the event.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Forward-looking statements notice
This release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “should,” “would,” “could,” “positioned,” “strategy,” or “future” or words, phrases, or terms of similar substance or the negative thereof are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the 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; the ability to achieve the benefits of our restructuring plans, cost reduction initiatives and Transformation Program; the impact of raw material, logistics and labor costs and other inflation; volatility in currency exchange rates and interest rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; risks associated with operating foreign businesses; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating and sustainability goals and targets. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024. All forward-looking statements, including all financial forecasts, speak only as of the date of this release. Pentair assumes no obligation, and disclaims any obligation, to update the information contained in this release.
ABOUT PENTAIR PLC
At Pentair, we help the world sustainably move, improve, and enjoy water, life’s most essential resource. From our residential and commercial water solutions, to industrial water management and everything in between, Pentair is a core large cap value S&P 500 equity stock focused on smart, sustainable water solutions that help our planet and people thrive.
Pentair had revenue in 2025 of approximately $4.2 billion, and trades under the ticker symbol PNR. With approximately 9,000 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit www.pentair.com.
PENTAIR CONTACTS:
| Three months ended | Twelve months ended |
|---|
| Pentair plc and Subsidiaries |
| Condensed Consolidated Statements of Operations (Unaudited) |
| In millions, except per-share data | December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| Net sales | $1,020.5 | $972.9 | $4,176.0 | $4,082.8 |
| Cost of goods sold | 608.7 | 595.3 | 2,485.7 | 2,484.0 |
| Gross profit | 411.8 | 377.6 | 1,690.3 | 1,598.8 |
| % of net sales | 40.4% | 38.8% | 40.5% | 39.2% |
| Selling, general and administrative | 184.3 | 160.7 | 736.9 | 701.4 |
| % of net sales | 18.1% | 16.5% | 17.6% | 17.2% |
| Research and development | 22.5 | 21.8 | 95.9 | 93.6 |
| % of net sales | 2.2% | 2.2% | 2.3% | 2.3% |
| Operating income | 205.0 | 195.1 | 857.5 | 803.8 |
| % of net sales | 20.1% | 20.1% | 20.5% | 19.7% |
| Other expense (income) | | | | |
| Loss on sale of business | - | - | 26.3 | - |
| Other expense (income) | 3.2 | (4.5) | 5.3 | (3.7) |
| Net interest expense | 17.4 | 15.2 | 69.4 | 88.6 |
| % of net sales | 1.7% | 1.6% | 1.7% | 2.2% |
| Income from continuing operations before income taxes | 184.4 | 184.4 | 756.5 | 718.9 |
| Provision for income taxes | 22.6 | 18.0 | 107.0 | 93.3 |
| Effective tax rate | 12.3% | 9.8% | 14.1% | 13.0% |
| Net income from continuing operations | 161.8 | 166.4 | 649.5 | 625.6 |
| Income (loss) from discontinued operations, net of tax | 4.3 | - | 4.3 | (0.2) |
| Net income | $166.1 | $166.4 | $653.8 | $625.4 |
| Earnings per ordinary share | | | | |
| Basic | | | | |
| Continuing operations | $0.99 | $1.01 | $3.96 | $3.78 |
| Discontinued operations | 0.03 | - | 0.03 | - |
| Basic earnings per ordinary share | $1.02 | $1.01 | $3.99 | $3.78 |
| Diluted | | | | |
| Continuing operations | $0.98 | $0.99 | $3.93 | $3.74 |
| Discontinued operations | 0.03 | - | 0.03 | - |
| Diluted earnings per ordinary share | $1.01 | $0.99 | $3.96 | $3.74 |
| Weighted average ordinary shares outstanding | | | | |
| Basic | 163.4 | 165.2 | 164.1 | 165.6 |
| Diluted | 164.7 | 166.8 | 165.5 | 167.1 |
| Cash dividends paid per ordinary share | $0.25 | $0.23 | $1.00 | $0.92 |
| December 31, 2025 | December 31, 2024 |
|---|
| Pentair plc and Subsidiaries |
| Condensed Consolidated Balance Sheets (Unaudited) |
| In millions | |
| Assets |
| Current assets | | |
| Cash and cash equivalents | $101.6 | $118.7 |
| Accounts receivable, net | 673.2 | 565.2 |
| Inventories | 632.6 | 610.9 |
| Other current assets | 134.4 | 141.3 |
| Total current assets | 1,541.8 | 1,436.1 |
| Property, plant and equipment, net | 376.8 | 358.8 |
| Other assets | | |
| Goodwill | 3,538.1 | 3,286.6 |
| Intangibles, net | 1,073.3 | 1,033.8 |
| Other non-current assets | 338.8 | 331.2 |
| Total other assets | 4,950.2 | 4,651.6 |
| Total assets | $6,868.8 | $6,446.5 |
| Liabilities and Equity |
| Current liabilities | | |
| Current maturities of short-term borrowings | $ - | $9.3 |
| Accounts payable | 301.5 | 272.8 |
| Employee compensation and benefits | 120.1 | 116.2 |
| Other current liabilities | 537.7 | 496.8 |
| Total current liabilities | 959.3 | 895.1 |
| Other liabilities | | |
| Long-term debt | 1,638.6 | 1,638.7 |
| Pension and other post-retirement compensation and benefits | 58.8 | 61.6 |
| Deferred tax liabilities | 47.5 | 44.4 |
| Other non-current liabilities | 295.4 | 243.8 |
| Total liabilities | 2,999.6 | 2,883.6 |
| Equity | 3,869.2 | 3,562.9 |
| Total liabilities and equity | $6,868.8 | $6,446.5 |
| Years ended December 31 |
|---|
| Pentair plc and Subsidiaries |
| Condensed Consolidated Statements of Cash Flows (Unaudited) |
| In millions | | 2025 | | 2024 |
| Operating activities | | |
| Net income | $653.8 | | $625.4 | |
| (Income) loss from discontinued operations, net of tax | (4.3) | | 0.2 | |
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities of continuing operations | | |
| Equity income of unconsolidated subsidiaries | (1.0) | | (1.9) | |
| Depreciation | 59.6 | | 60.3 | |
| Amortization | 58.1 | | 54.3 | |
| Deferred income taxes | (4.3) | | (11.4) | |
| Loss on sale of business | 26.3 | | - | |
| Share-based compensation | 37.0 | | 39.7 | |
| Asset impairment and write-offs | 49.1 | | 17.6 | |
| Pension and other post-retirement expense | 6.9 | | 0.1 | |
| Pension and other post-retirement contributions | (10.6) | | (12.0) | |
| Changes in assets and liabilities, net of effects of business acquisitions | | |
| Accounts receivable | (93.1) | | (11.2) | |
| Inventories | (36.9) | | 53.6 | |
| Other current assets | (0.7) | | 14.1 | |
| Accounts payable | 20.5 | | (3.7) | |
| Employee compensation and benefits | (3.7) | | (5.0) | |
| Other current liabilities | 26.1 | | (48.7) | |
| Other non-current assets and liabilities | 32.0 | | (4.5) | |
| Net cash provided by operating activities of continuing operations | 814.8 | | 766.9 | |
| Net cash used for operating activities of discontinued operations | - | | (0.2) | |
| Net cash provided by operating activities | 814.8 | | 766.7 | |
| Investing activities | | |
| Capital expenditures | (68.8) | | (74.4) | |
| Purchase of investments | (18.0) | | - | |
| Proceeds from sale of property and equipment | 2.4 | | 0.6 | |
| Payments upon the settlement of net investment hedges | (28.9) | | (5.8) | |
| Acquisitions, net of cash acquired | (292.1) | | (108.0) | |
| Other | 0.9 | | - | |
| Net cash used for investing activities | (404.5) | | (187.6) | |
| Financing activities | | |
| Net (repayments) receipts of short-term borrowings | (9.3) | | 9.3 | |
| Net borrowings of revolving long-term debt | 268.2 | | 9.5 | |
| Repayments of long-term debt | (269.3) | | (362.5) | |
| Debt issuance costs | (2.2) | | - | |
| Shares issued to employees, net of shares withheld | (0.6) | | 18.4 | |
| Repurchases of ordinary shares | (225.0) | | (150.0) | |
| Dividends paid | (164.3) | | (152.3) | |
| Payments upon the settlement of cross currency swaps | - | | (9.1) | |
| Net cash used for financing activities | (402.5) | | (636.7) | |
| Effect of exchange rate changes on cash and cash equivalents | (24.9) | | 6.0 | |
| Change in cash and cash equivalents | (17.1) | | (51.6) | |
| Cash and cash equivalents, beginning of year | 118.7 | | 170.3 | |
| Cash and cash equivalents, end of year | $101.6 | | $118.7 | |
| Years ended December 31 |
|---|
| Pentair plc and Subsidiaries |
| Reconciliation of the GAAP Operating Activities Cash Flow to the Non-GAAP Free Cash Flow (Unaudited) |
| In millions | | 2025 | | 2024 |
| Net cash provided by operating activities of continuing operations | $814.8 | | $766.9 | |
| Capital expenditures | (68.8) | | (74.4) | |
| Proceeds from sale of property and equipment | 2.4 | | 0.6 | |
| Free cash flow from continuing operations | $748.4 | | $693.1 | |
| Net cash used for operating activities of discontinued operations | - | | (0.2) | |
| Free cash flow | $748.4 | | $692.9 | |
| 2025 |
|---|
| Pentair plc and Subsidiaries |
| Supplemental Financial Information by Reportable Segment (Unaudited) |
| In millions | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year |
| Net sales | | | | | |
| Flow | $367.9 | $397.3 | $394.0 | $394.4 | $1,553.6 | |
| Water Solutions | 258.2 | 298.3 | 273.3 | 232.3 | 1,062.1 | |
| Pool | 383.9 | 427.2 | 354.3 | 393.4 | 1,558.8 | |
| Reportable segment net sales | 1,010.0 | 1,122.8 | 1,021.6 | 1,020.1 | 4,174.5 | |
| Corporate and other | 0.4 | 0.3 | 0.4 | 0.4 | 1.5 | |
| Net Sales | $1,010.4 | $1,123.1 | $1,022.0 | $1,020.5 | $4,176.0 | |
| Reportable segment income (loss) | | | | | |
| Flow | $83.6 | $93.1 | $95.3 | $90.1 | $362.1 | |
| Water Solutions | 60.7 | 70.2 | 68.4 | 54.6 | 253.9 | |
| Pool | 126.0 | 152.7 | 116.2 | 132.2 | 527.1 | |
| Reportable segment income | 270.3 | 316.0 | 279.9 | 276.9 | 1,143.1 | |
| Corporate and other | (27.8) | (19.3) | (17.3) | (25.2) | (89.6) | |
| Adjusted operating income | $242.5 | $296.7 | $262.6 | $251.7 | $1,053.5 | |
| Return on sales | | | | | |
| Flow | 22.7% | 23.4% | 24.2% | 22.8% | 23.3% | |
| Water Solutions | 23.5% | 23.5% | 25.0% | 23.5% | 23.9% | |
| Pool | 32.8% | 35.7% | 32.8% | 33.6% | 33.8% | |
| Adjusted return on sales | 24.0% | 26.4% | 25.7% | 24.7% | 25.2% | |
| 2024 |
|---|
| In millions | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year |
| Net sales | | | | | |
| Flow | $384.3 | $396.8 | $372.2 | $360.7 | $1,514.0 | |
| Water Solutions | 273.1 | 310.5 | 289.5 | 257.9 | 1,131.0 | |
| Pool | 359.5 | 391.5 | 331.4 | 353.7 | 1,436.1 | |
| Reportable segment net sales | 1,016.9 | 1,098.8 | 993.1 | 972.3 | 4,081.1 | |
| Corporate and other | 0.3 | 0.5 | 0.3 | 0.6 | 1.7 | |
| Net Sales | $1,017.2 | $1,099.3 | $993.4 | $972.9 | $4,082.8 | |
| Reportable segment income (loss) | | | | | |
| Flow | $77.3 | $84.4 | $82.8 | $73.6 | $318.1 | |
| Water Solutions | 55.6 | 72.9 | 64.4 | 62.2 | 255.1 | |
| Pool | 110.8 | 133.6 | 112.7 | 119.4 | 476.5 | |
| Reportable segment income | 243.7 | 290.9 | 259.9 | 255.2 | 1,049.7 | |
| Corporate and other | (26.4) | (19.5) | (20.7) | (23.9) | (90.5) | |
| Adjusted operating income | $217.3 | $271.4 | $239.2 | $231.3 | $959.2 | |
| Return on sales | | | | | |
| Flow | 20.1% | 21.3% | 22.2% | 20.4% | 21.0% | |
| Water Solutions | 20.4% | 23.5% | 22.2% | 24.1% | 22.6% | |
| Pool | 30.8% | 34.1% | 34.0% | 33.8% | 33.2% | |
| Adjusted return on sales | 21.4% | 24.7% | 24.1% | 23.8% | 23.5% | |
| Pentair plc and Subsidiaries |
| Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ended December 31, 2025 |
| Excluding the Effect of Adjustments (Unaudited) |
| In millions, except per-share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year |
| Net sales | $1,010.4 | $1,123.1 | $1,022.0 | $1,020.5 | $4,176.0 |
| Operating income | 203.1 | 217.7 | 231.7 | 205.0 | 857.5 |
| Return on sales | 20.1% | 19.4% | 22.7% | 20.1% | 20.5% |
| Adjustments: | | | | | |
| Restructuring and other | 10.5 | 10.4 | 0.2 | 10.2 | 31.3 |
| Transformation costs | 9.1 | 12.5 | 10.8 | 8.4 | 40.8 |
| Intangible amortization | 14.2 | 14.3 | 13.9 | 15.7 | 58.1 |
| Legal accrual adjustments and settlements | - | - | - | 11.6 | 11.6 |
| Asset impairment and write-offs | 5.2 | 41.8 | 1.5 | 0.6 | 49.1 |
| Deal-related costs and expenses | - | - | 4.1 | - | 4.1 |
| Equity income of unconsolidated subsidiaries | 0.4 | - | 0.4 | 0.2 | 1.0 |
| Adjusted operating income | 242.5 | 296.7 | 262.6 | 251.7 | 1,053.5 |
| Adjusted return on sales | 24.0% | 26.4% | 25.7% | 24.7% | 25.2% |
| Net income from continuing operations - as reported | 154.9 | 148.5 | 184.3 | 161.8 | 649.5 |
| Loss on sale of business | - | 26.3 | - | - | 26.3 |
| Pension and other post-retirement mark-to-market loss | - | - | - | 2.4 | 2.4 |
| Adjustments to operating income | 39.0 | 79.0 | 30.5 | 46.5 | 195.0 |
| Income tax adjustments | (9.7) | (23.3) | (9.5) | (16.0) | (58.5) |
| Net income from continuing operations - as adjusted | $184.2 | $230.5 | $205.3 | $194.7 | $814.7 |
| Continuing earnings per ordinary share - diluted | | | | | |
| Diluted earnings per ordinary share - as reported | $0.93 | $0.90 | $1.12 | $0.98 | $3.93 |
| Adjustments | 0.18 | 0.49 | 0.12 | 0.20 | 0.99 |
| Diluted earnings per ordinary share - as adjusted | $1.11 | $1.39 | $1.24 | $1.18 | $4.92 |
| Forecast |
|---|
| Pentair plc and Subsidiaries |
| Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ending December 31, 2026 |
| Excluding the Effect of Adjustments (Unaudited) |
| In millions, except per-share data | First Quarter | Full Year |
| Net sales | approx | Up 1% - 2% | approx | Up 3% - 4% |
| Operating income | approx | Up 13% - 17% | approx | Up 21% - 25% |
| Adjustments: | | | | |
| Intangible amortization | approx | $16 | | approx | $62 | |
| Equity income of unconsolidated subsidiaries | approx | 1 | | approx | 4 | |
| Adjusted operating income | approx | Up 2% - 5% | approx | Up 5% - 8% |
| Net income from continuing operations - as reported | approx | $177 - $182 | approx | $815 - $840 |
| Adjustments to operating income | approx | 16 | | approx | 62 | |
| Income tax adjustments | approx | (3) | | approx | (11) | |
| Net income from continuing operations - as adjusted | approx | $190 - $195 | approx | $866 - $891 |
| Continuing earnings per ordinary share - diluted | | | | |
| Diluted earnings per ordinary share - as reported | approx | $1.07 - $1.10 | approx | $4.94 - $5.09 |
| Adjustments | approx | | 0.08 | approx | | 0.31 |
| Diluted earnings per ordinary share - as adjusted | approx | $1.15- $1.18 | approx | $5.25 - $5.40 |
| Q4 Net Sales Growth | Full Year Net Sales Growth |
|---|
| Core | Currency | Acq. / Div. | Total | Core | Currency | Acq. / Div. | Total |
|---|
| Pentair plc and Subsidiaries |
| Reconciliation of Net Sales Growth to Core Net Sales Growth by Reportable Segment |
| For the Quarter and Year Ended December 31, 2025 (Unaudited) |
| Total Pentair | 3.7% | 1.4% | (0.2)% | 4.9% | 1.9% | 0.5% | (0.1)% | 2.3% |
| Flow | 4.0% | 2.9% | 2.4% | 9.3% | 0.8% | 1.1% | 0.7% | 2.6% |
| Water Solutions | (3.7)% | 1.1% | (7.3)% | (9.9)% | (2.6)% | 0.5% | (4.0)% | (6.1)% |
| Pool | 8.9% | 0.1% | 2.2% | 11.2% | 6.5% | - % | 2.0% | 8.5% |
| Pentair plc and Subsidiaries |
| Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ended December 31, 2024 |
| Excluding the Effect of Adjustments (Unaudited) |
| In millions, except per-share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year |
| Net sales | $1,017.2 | $1,099.3 | $993.4 | $972.9 | $4,082.8 |
| Operating income | 180.8 | 248.0 | 179.9 | 195.1 | 803.8 |
| Return on sales | 17.8% | 22.6% | 18.1% | 20.1% | 19.7% |
| Adjustments: | | | | | |
| Restructuring and other | 4.6 | 5.9 | 23.4 | 3.1 | 37.0 |
| Transformation costs | 17.0 | 11.8 | 12.6 | 10.7 | 52.1 |
| Intangible amortization | 13.5 | 13.4 | 13.5 | 13.9 | 54.3 |
| Legal accrual adjustments and settlements | (0.3) | (7.9) | 0.7 | - | (7.5) |
| Asset impairment and write-offs | 0.8 | - | 8.5 | 8.3 | 17.6 |
| Equity income of unconsolidated subsidiaries | 0.9 | 0.2 | 0.6 | 0.2 | 1.9 |
| Adjusted operating income | 217.3 | 271.4 | 239.2 | 231.3 | 959.2 |
| Adjusted return on sales | 21.4% | 24.7% | 24.1% | 23.8% | 23.5% |
| Net income from continuing operations - as reported | 133.5 | 186.1 | 139.6 | 166.4 | 625.6 |
| Pension and other post-retirement mark-to-market gain | - | - | - | (5.3) | (5.3) |
| Other (income) expense | - | - | (0.5) | 0.1 | (0.4) |
| Adjustments to operating income | 35.6 | 23.2 | 58.7 | 36.0 | 153.5 |
| Income tax adjustments | (11.3) | (5.4) | (15.4) | (17.6) | (49.7) |
| Net income from continuing operations - as adjusted | $157.8 | $203.9 | $182.4 | $179.6 | $723.7 |
| Continuing earnings per ordinary share - diluted | | | | | |
| Diluted earnings per ordinary share - as reported | $0.80 | $1.11 | $0.84 | $0.99 | $3.74 |
| Adjustments | 0.14 | 0.11 | 0.25 | 0.09 | 0.59 |
| Diluted earnings per ordinary share - as adjusted | $0.94 | $1.22 | $1.09 | $1.08 | $4.33 |
Contacts
Shelly Hubbard · Vice President, Investor Relations · Direct: 763-656-5575 · Email: shelly.hubbard@pentair.com
Rebecca Osborn · Vice President, Communications · Direct: 763-656-5589 · Email: rebecca.osborn@pentair.com