The 2020 Mid-Year Economic Update_long

Pentair Third Quarter Sales Fall 23%

Sales in the Technical Products group posted the largest declines for the diversified company.

Pentair, Inc. (NYSE: PNR), Minneapolis, MN, reported third quarter sales of $662.7 million, down 23% from third quarter 2008. Profit declined 13.7% to $36.9 million.

Year-to-date, sales were $1.99 billion, down 23% from the prior year period. Profit decreased 61.6% to $86.1 million.

The Water Group delivered $462 million in sales, a 17% decline year-over-year. Excluding the impact of foreign exchange rates, sales were down 16%.Operating income for the group totaled $53 million, up 7% as compared to the same period last year.

Technical Products third quarter sales were $201 million, a decrease of 32%. Sales were down 31% excluding the impact of foreign exchange. Technical Products’ operating income was $24 million, down 49%.

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