Pentair plc - PNR STOCK NEWS

Pentair (NYSE: PNR) has acquired G&F Manufacturing, a Florida-based manufacturer of pool heat pumps under the Gulfstream brand, for approximately $108 million in cash. The acquisition expands Pentair's pool equipment portfolio in the Southeast United States and is expected to be modestly accretive to earnings in 2025. The strategic move strengthens Pentair's position in sustainable pool solutions, particularly in critical geographical regions where heat pumps are essential offerings.

Pentair (NYSE: PNR), a leading water solutions company, has announced its participation in the Baird Global Industrial Conference in Chicago. President and CEO John L. Stauch will deliver a presentation on November 13th at 12:00 p.m. Central Time. The presentation will be accessible through a live webcast on Pentair's website under the 'Investor Relations' section. A replay will be made available approximately 24 hours after the presentation and will remain accessible for 90 days on the company's website.

Pentair plc (NYSE: PNR) reported strong third quarter 2024 results with sales of $993 million. Operating income was $180 million with a return on sales (ROS) of 18.1%, up 20 basis points year-over-year. On an adjusted basis, ROS expanded 310 basis points to 24.1%. GAAP EPS increased 6% to $0.84, while adjusted EPS rose 16% to $1.09.

Free cash flow from continuing operations was $234 million, up $90 million from the previous year. The company updated its full-year 2024 GAAP EPS guidance to approximately $3.70 and increased adjusted EPS guidance to approximately $4.27. Pentair's balanced water portfolio strategy and focus on execution and transformation initiatives continue to drive strong results.

Pentair plc (NYSE:PNR), a leader in sustainable water solutions, has announced its plans to release third quarter 2024 earnings on Tuesday, October 22, 2024, before the New York Stock Exchange opens. The company will also host an investor conference call at 9:00 a.m. Eastern Time on the same day.

Presentation materials related to the earnings will be available on Pentair's website in the 'Investor Relations' section prior to the call. Investors can access the conference call via webcast through the company's website or by dialing in with the provided numbers and passcode. A replay of the call will be accessible until November 19, 2024.

Pentair plc (NYSE: PNR) has announced its regular quarterly cash dividend of $0.23 per share. The dividend will be paid on November 1, 2024 to shareholders of record at the close of business on October 18, 2024. This marks a significant milestone for Pentair, as it represents the 48th consecutive year of dividend increases for the company.

Pentair plc (NYSE: PNR), a leader in sustainable water solutions, is set to participate in the Morgan Stanley 12th Annual Laguna Conference on September 11th and 12th. Key highlights include:

• President and CEO John L. Stauch and EVP, CEO – Pentair Pool, Jerome Pedretti will present on September 12th at 9:20 a.m. Pacific Time
• CFO Bob Fishman will engage in investor meetings on September 11th
• A live webcast of the presentation will be available through Pentair's website
• The presentation replay will be accessible for viewing until December 10, 2024

This event provides an opportunity for Pentair to showcase its strategies and performance to investors and analysts in the water technology sector.

Pentair plc (NYSE: PNR) has announced the 2024 recipients of the Pentair Foundation's Water Grants Program. The foundation is awarding $1.15 million in grant funding to nine water-focused programs, supporting its mission to advance inclusive and sustainable communities. This continues Pentair's legacy of charitable giving, which has exceeded $80 million over the past 26 years.

The grants focus on reducing water stress, improving water quality, reducing single-use plastic water bottles, increasing water safety, and improving water-related wellbeing. Recipients include organizations such as American Forests, DigDeep, Great Riving Greening, Isla Urbana, River Partners, Safe Water Network, The Nature Conservancy, USA Swimming Foundation, and V3 Sports.

Pentair plc (NYSE: PNR) reported strong Q2 2024 results with sales of $1.1 billion, up 2% year-over-year. Operating income increased 19% to $248 million, with ROS expanding 330 basis points to 22.6%. GAAP EPS rose 19% to $1.11, while adjusted EPS increased 18% to $1.22. Free cash flow grew by $90 million to $522 million.

The company updated its full-year 2024 guidance, projecting GAAP EPS of approximately $3.81 and adjusted EPS of $4.25. Pentair's Pool segment returned to growth, and all three segments drove significant margin expansion. The company continues to focus on Transformation and 80/20 initiatives to drive operational efficiencies across its water portfolio.

Pentair plc (NYSE: PNR) and Minneapolis-St. Paul International Airport (MSP) have announced a collaboration to reduce single-use plastic waste. As the Official Water Sponsor of MSP, Pentair is installing 10 HOPE Hydration HydroStations, the first of their kind at any airport worldwide. These stations will dispense free, chilled, and filtered water while providing an interactive experience to users.

The HydroStations feature Everpure filtration technology from Pentair Water Solutions and will track real-time impact data on plastic and carbon emissions savings. MSP's current network of 80 water bottle refill stations already reduces the need for approximately 600 pounds of single-use plastic bottles daily. This partnership aims to enhance passenger experience, drive innovation, and promote sustainability at the 19th busiest airport in North America.