Pentair 1Q Sales Reach $1B

The water treatment and sustainability provider says its 2022 first-quarter sales were up 15% compared to the same period last year.
3Q Pentair Sales Increase 21%

London-based water treatment provider Pentair plc (NYSE: PNR) reported 2022 first-quarter sales of $1 billion, a 15% increase over the same quarter last year.

Excluding currency translation, acquisitions and divestitures, core sales grew 12% in the first quarter, Pentair said. 1Q earnings per diluted share from continuing operations were $0.71 compared to $0.78 in the first quarter of 2021.

“I remain grateful for the agility and contributions of Pentair employees as they work through challenges caused by the global supply chain and higher inflation to solve our customers’ needs,” said John L. Stauch, Pentair president and CEO. “Our price actions are accelerating as we previously communicated and we were able to offset inflation for the first time in almost a year. Our residential businesses continued to see increasing demand and we saw order and revenue growth in both our commercial and industrial businesses.”

1Q operating income was $146 million, down 7% compared to the same quarter in 2021. ROS was 14.6%, a decrease of 350 basis points when compared to the first quarter of 2021, Pentair said.

The company last month reached a definitive agreement to acquire Manitowoc Ice, a provider of commercial ice makers, for $1.6 billion.

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access