Pentair plc - PNR STOCK NEWS

Pentair (NYSE: PNR) has appointed Tanya Hooper as Executive Vice President and Chief Human Resources Officer, effective January 1, 2023. She will report to John Stauch, the company’s President and CEO. Hooper brings extensive HR leadership experience from Honeywell, Raytheon Technologies, and Royal Dutch Shell. She succeeds Adrian Chiu, who will become Executive Vice President and President of Pentair’s Water Solutions Segment starting on the same date. Pentair aims to be the leading sustainable water solutions provider globally.

Pentair plc (NYSE: PNR) reported third quarter 2022 sales of $1.06 billion, a 9% increase year-over-year, with adjusted EPS at $0.99. However, GAAP EPS decreased to $0.70 from $0.86 in Q3 2021. The company revised its full-year GAAP EPS guidance to approximately $3.01 and adjusted EPS to $3.65. Despite strong sales growth in its sectors, operating income fell 12% to $147 million. Pentair anticipates challenges in the upcoming quarters due to inventory corrections and external economic pressures, yet remains optimistic about future growth initiatives.

Pentair plc (NYSE:PNR) is set to release its third quarter financial results on October 25, 2022, prior to the opening of the New York Stock Exchange. A conference call for investors will follow at 9:00 a.m. Eastern Time. Relevant materials will be available in the Investor Relations section on the company's website. Pentair reported revenues of approximately $3.8 billion for 2021, with a workforce of around 11,250 employees serving customers in over 150 countries.

Pentair plc (NYSE: PNR) announced a quarterly cash dividend of $0.21 per share, payable on November 4, 2022. Shareholders on record by October 21, 2022 will benefit from this dividend. This marks the 46th consecutive year of dividend increases for Pentair, underscoring their commitment to returning value to shareholders. In 2021, Pentair achieved revenues of approximately $3.8 billion, serving a global customer base with around 11,250 employees.

Pentair plc (NYSE: PNR) has completed its acquisition of Manitowoc Ice from Welbilt, Inc. (NYSE: WBT) for $1.6 billion. This acquisition aims to enhance Pentair's Commercial Water Solutions business, expanding its total water management offerings, particularly for foodservice and hospitality customers. Manitowoc Ice, a leading provider of commercial ice makers, brings over 1 million units installed and more than 200 models of ice machines globally. The acquisition is expected to strengthen Pentair's market position in a growing industry.

Pentair plc (NYSE: PNR) reported second quarter 2022 sales of $1.06 billion, showing a 13% increase year-over-year. The company achieved a GAAP EPS of $0.92 and an adjusted EPS of $1.02, compared to $0.79 and $0.84, respectively, in Q2 2021. The operating income rose to $191 million, reflecting an 18% growth. The updated full-year EPS guidance is set at approximately $3.40 to $3.45, driven by anticipated margin expansion despite challenges from foreign exchange rates and interest rates. Pentair will also restructure into three segments starting January 1, 2023, enhancing operational focus.

Pentair plc (NYSE: PNR) is set to announce its second quarter results on July 26, 2022, before the New York Stock Exchange opening. The results will be discussed during a conference call at 9:00 a.m. Eastern Time. Interested parties can listen via the company's website or by phone, with a replay available until August 26, 2022. In 2021, Pentair reported revenues of approximately $3.8 billion, and operates with around 11,250 employees across over 150 countries.

Pentair plc (NYSE: PNR) announced a public offering of $400 million in senior notes due 2032, with an interest rate of 5.900%. The offering will close on July 8, 2022, pending customary conditions. The funds will be used for acquiring the Manitowoc Ice business from Welbilt, Inc. for $1.6 billion and for general corporate purposes. There is no guarantee that the acquisition will close by January 14, 2023; otherwise, notes will be redeemed at 101% of their principal. J.P. Morgan, BofA, and Citigroup are the lead managers for this offering.

Pentair plc (NYSE: PNR) has announced a quarterly cash dividend of $0.21 per share, payable on August 5, 2022, to shareholders on record as of the close of business on July 22, 2022. This marks the 46th consecutive year that Pentair has increased its dividend, demonstrating a strong commitment to returning value to its shareholders. In 2021, Pentair generated approximately $3.8 billion in revenue and employs around 11,250 individuals globally, serving customers in over 150 countries.