Pentair plc - PNR STOCK NEWS

Pentair has launched the Pentair Rocean Reservoir, a water filtration system designed to provide cleaner tap water while minimizing plastic waste. Utilizing InstaClean™ Technology, it reduces or eliminates 76 contaminants, offering a sustainable choice over bottled water. The device can filter up to 390 gallons, equivalent to nearly 3,000 plastic bottles. Priced at $249, the Reservoir aims to enhance user experience and promote environmental sustainability.

Pentair (NYSE: PNR) has released its 2021 Corporate Responsibility Report, showcasing its commitment to sustainability and social responsibility. Key highlights include an 11.8% reduction in Scope 1 and 2 greenhouse gas emissions and a 12% increase in water withdrawal due to growth. The report notes that 73% of solutions emphasize energy efficiency and 70% support water efficiency. Pentair has achieved significant representation goals for women and people of color within its workforce.

Pentair plc (NYSE: PNR) reported first quarter 2022 sales of $1.0 billion, marking a 15% increase year-over-year. GAAP EPS was $0.71, down from $0.78 in Q1 2021, while adjusted EPS rose to $0.85 from $0.81. The company updated its 2022 GAAP EPS guidance to $3.40 to $3.50 and adjusted EPS to $3.70 to $3.80. Free cash flow was -$149 million for the quarter. Pentair anticipates second quarter sales growth of 11% to 13% compared to Q2 2021. Despite challenges in supply chains and inflation, segment income was up 5% year-over-year.

Pentair plc (NYSE:PNR) is set to release its first quarter results on April 21, 2022, before the market opens. A conference call for investors will take place at 9:00 a.m. Eastern Time on the same day. Relevant materials will be available in the "Investor Relations" section of Pentair's website before the call. In 2021, Pentair generated approximately $3.8 billion in revenue and serves customers in over 150 countries, focusing on sustainable water solutions for both residential and business sectors.

Welbilt has announced a definitive agreement to sell its Manitowoc Ice business to Pentair for approximately $1.6 billion in cash. Manitowoc Ice, which generated around $308 million in sales in 2021, designs and manufactures ice machines and equipment. The transaction is expected to close in the first half of 2022, pending regulatory approvals in the U.S., U.K., and European Union. This sale is seen as a strategic move to facilitate Welbilt's ongoing acquisition by Ali Group.

Pentair plc (NYSE: PNR) announced the acquisition of Manitowoc Ice for $1.6 billion, with a net value of approximately $1.38 billion after tax benefits. This strategic move aims to enhance Pentair’s Water Solutions platform, focusing on the foodservice industry. The acquisition is expected to contribute about $0.25 to Adjusted EPS in 2023 and $0.40 in 2025. Manitowoc Ice reported $308 million in revenue for 2021 with EBITDA margins around 30%. The deal is anticipated to close by Q2 2022, subject to regulatory approvals.

Pentair (NYSE: PNR) announced a quarterly cash dividend of $0.21 per share, payable on May 6, 2022, to shareholders on record as of April 22, 2022. This marks the 46th consecutive year of dividend increases for the company. In 2021, Pentair reported revenues of approximately $3.8 billion and employs about 11,250 individuals across more than 150 countries, focusing on sustainable water solutions.

Pentair reported fourth quarter sales of $989 million, marking a 24% increase year-over-year. The fourth quarter GAAP EPS was $0.89, up from $0.60, while adjusted EPS was $0.87 versus $0.70. For the full year, sales reached $3.76 billion, also a 25% increase, with GAAP EPS of $3.32. The company expects 2022 GAAP EPS to range between $3.54 and $3.64, and anticipates sales growth of 6-9%. Despite challenges from inflation and supply chain issues, Pentair's robust backlog and order trends indicate strong future performance.

Pentair has announced an enhanced digital experience through the introduction of Pentair Water Solutions, which integrates Pelican Water. This new platform aims to provide customized water treatment solutions to consumers, addressing issues such as hard water and contamination. The revamped website allows for a seamless experience with several contact options including online chats and virtual appointments. With a focus on personalized service, Pentair leverages local water data to tailor solutions for each household.