Pentair (NYSE: PNR) reported Q1 EPS of $0.85, $0.04 better than the analyst estimate of $0.81. Revenue for the quarter came in at $1 billion versus the consensus estimate of $951.3 million.

GUIDANCE:

Pentair sees FY2022 EPS of $3.70-$3.80, versus the consensus of $3.74.

• The company updates its estimated 2022 GAAP EPS from continuing operations to approximately $3.40 to $3.50 and on an adjusted EPS basis to approximately $3.70 to $3.80. The company updates full year 2022 sales guidance to be up approximately 9 to 11 percent on a reported basis. The company’s outlook for 2022 does not include Manitowoc Ice. The company expects full year free cash flow to approximate 100 percent of net income.
• In addition, the company introduces second quarter 2022 GAAP EPS from continuing operations guidance of approximately $0.91 to $0.94 and on an adjusted EPS basis of approximately $0.98 to $1.01. The company expects second quarter sales to be up approximately 11 to 13 percent on a reported basis compared to the second quarter of 2021.

For earnings history and earnings-related data on Pentair (PNR) click here.