Pentair Sales Down 8.4% in 2015 - Modern Distribution Management

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Pentair Sales Down 8.4% in 2015

Fourth quarter sales decreased 2.3 percent year-over-year.

Pentair plc (NYSE: PNR), Manchester, UK, reported sales for 2015 of $6.4 billion, down 8.4 percent year-over-year. Profit was $469.1 million, compared with profit of $214.9 million a year ago.

Fourth quarter sales were $1.8 billion, down 2.3 percent year-over-year. Core sales decreased 4 percent in the quarter. Profit fell 23.7 percent to $92.2 million.

Valves & controls sales for the fourth quarter were $474 million, down 22 percent versus the prior year quarter. Backlog decreased 4 percent to $1.1 billion. Sales in the energy vertical, 60 percent of valves & controls revenue, decreased 16 percent. Sales in the industrial vertical, 40 percent of valves & controls revenue, decreased 12 percent.

Flow & filtration solutions fourth quarter sales were $354 million, down 8 percent versus the prior year quarter, while water quality systems sales were up 4 percent to $365 million.

Technical solutions fourth quarter sales were $574 million, up 23 percent compared to the prior year quarter.

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