Pentair - PNR STOCK NEWS

Pentair plc (NYSE: PNR) reported first quarter 2023 sales of $1.0 billion, an increase of 3 percent year-over-year. Operating income rose 26 percent to $184 million, reflecting a return on sales (ROS) of 17.8 percent, up 320 basis points. GAAP EPS increased 10 percent to $0.78, and adjusted EPS was $0.91, a 7 percent rise from the previous year. The company updated its full-year 2023 guidance for GAAP EPS to $3.25 to $3.35 and adjusted EPS to $3.60 to $3.70. Despite a 3 percent decline in core sales, segments like Industrial & Flow Technologies and Water Solutions saw significant growth. However, Pool segment sales dropped 16 percent. Pentair remains optimistic about its diversification and transformation strategies amid market challenges.

Swirltex Inc. has appointed Dominik Elsaesser to its Board of Directors. With over 30 years in the clean technology and water treatment sectors, Elsaesser will provide strategic guidance and technical counsel to Swirltex. CEO Rob Budianto highlighted that his expertise in membrane and filtration technology will be critical as Swirltex aims for growth and innovation in wastewater treatment. Previously, Elsaesser served as CTO at Pentair and held various leadership roles at Dow Chemical and other firms. Swirltex specializes in a patented buoyancy-enhanced membrane filtration process that enhances wastewater treatment efficiency, targeting industries like coal mining and oil and gas.

Pentair (NYSE: PNR) released its 2022 Corporate Responsibility Report, detailing sustainability initiatives and progress in environmental responsibility. Highlights include a 29% reduction in Scope 1 and 2 greenhouse gas emissions since 2019, and a 0.7% decrease in absolute water withdrawal compared to 2019, marking a 9.3% decrease from 2021. Additionally, 100% of new products were assessed for sustainability. The company enhanced its Supplier Code of Conduct and initiated an ESG assessment of suppliers. Workforce diversity improved, with women representing 32% of the workforce and people of color at 40%. Despite these advancements, the report emphasizes ongoing challenges and the need for continued improvement in sustainability practices.

Pentair plc (NYSE:PNR) will announce its first-quarter results on April 27, 2023 prior to the New York Stock Exchange opening. The company will host an investor conference call at 9:00 a.m. Eastern Time on the same day. Investors can access related materials on the Investor Relations section of its website.

Participants can join the call via a webcast or by dialing 844-481-2705, using passcode PENTAIR. A replay will be available until May 25, 2023, through 877-344-7529, with passcode 9175068. In 2022, Pentair generated approximately $4.1 billion in revenue, driven by its commitment to sustainable water solutions.

Pentair recently celebrated Black History Month by hosting Dr. Keith Mayes, a professor focused on African American studies, at an event aimed at promoting equity in education. The discussion underscored the significance of Historically Black Colleges and Universities (HBCUs) in shaping future leaders. With over 100 HBCUs in the U.S., Dr. Mayes emphasized their role in fostering cultural connections and enhancing inclusivity within organizations. The event featured alumni from HBCUs who shared their positive experiences. Pentair’s Black Employee Network (BEN) also collaborates with talent acquisition to engage with students at HBCUs for recruitment opportunities, promoting a diverse workforce.