Pentair Sales Double in Third Quarter - Modern Distribution Management

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Pentair Sales Double in Third Quarter

CEO: Pentair continues to see strength in North American residential construction.

Pentair Ltd. (NYSE: PNR), Schaffhausen, Switzerland, reported sales for the third quarter of $1.8 billion, more than twice the $865.5 million reported for the same period a year ago. Profit was $172.8 million, compared to a year-ago profit of $31.4 million.

"We continued to see strength in the North American residential recovery and our global food and beverage markets, which were offset by a much weaker than expected Australian economy," said Randall J. Hogan, CEO.  "Although the top line fell modestly short of our expectations, our robust margin expansion again demonstrated the power of the Pentair integrated management system working and delivering ahead of schedule on our integration and standardization synergies."

Water & fluid solutions third-quarter sales were $814 million, up 1 percent versus the prior-year quarter. Valves & controls sales were $612 million, down 1 percent versus the prior year quarter. Technical solutions sales decreased 8 percent to $406 million.

For the first nine months, sales for Pentair were $5.6 billion. Profit was $378.6 million, compared to a year-ago profit of $165.9 million.

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