The 2020 Mid-Year Economic Update_long

Pentair Core Sales Up 2% in 2014

Profit plummeted 58 percent to $222.9 million.

Pentair plc (NYSE: PNR), Manchester, UK, reported sales for 2014 pf $7 billion, up slightly over sales in 2013. Core sales increased 2 percent. Profit was $222.9 million, compared with profit of $536.8 million a year ago.

For the fourth quarter, sales were $1.8 billion, down 2 percent in a year-over-year comparison. Core sales increased 2 percent in the quarter. Profit fell 19 percent to $128.8 million.

Valves & controls delivered fourth quarter 2014 sales of $613 million, down 6 percent versus the prior-year quarter. Core sales declined 1 percent. Segment income was $103 million, up 30 percent.

Process technologies fourth-quarter sales were $480 million, up 2 percent versus the prior year quarter.  Core sales grew 5 percent . Segment income was $67 million compared to $68 million in the same period last year.

Flow technologies fourth-quarter sales were $250 million, down 6 percent versus the prior year quarter.  Core sales declined 4 percent. Segment income increased 5 percent to $26 million.

Technical solutions fourth-quarter sales were $465 million, up 3 percent versus the prior year quarter.  Core sales grew 7 percent. Segment income increased 7 percent to $106 million.

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