Pentair Sales Up 6.8% in 1Q - Modern Distribution Management

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Pentair Sales Up 6.8% in 1Q

Profit decreases 5.7 percent for the quarter.

Pentair plc (NYSE: PNR), Manchester, UK, reported sales for the first quarter of $1.6 billion, up 6.8 percent compared to the same period last year. Profit was $107.4 million, down 5.7 percent from the first quarter of 2015.

The valves & controls segment had first quarter sales of $387 million, down 10 percent from the prior-year quarter. Backlog decreased 2 percent to $1.1 billion.

Flow & filtration solutions sales were down 4 percent in the first quarter to $338 million. Water quality systems sales were down 1 percent.

Technical solutions sales were $525 million for the first quarter, up 33 percent year-over-year.

"Our residential and commercial businesses remain strong, and we have begun to see signs of stabilization in our industrial businesses," said CEO Randall Hogan.

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