Pentair (NYSE: PNR) reported Q2 EPS of $1.03, $0.08 better than the analyst estimate of $0.95. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.05 billion.

Guidance:

The company increases its estimated 2023 GAAP EPS from continuing operations to approximately $3.27 to $3.37 and on an adjusted EPS basis to approximately $3.65 to $3.75. The company maintained full year 2023 sales guidance to be down approximately 2 percent to flat on a reported basis. The company expects full year free cash flow to approximate 100 percent of net income.

In addition, the company introduces third quarter 2023 GAAP EPS from continuing operations guidance of approximately $0.77 to $0.82 and on an adjusted EPS basis of approximately $0.84 to $0.89. The company expects third quarter sales to be down approximately 7 percent on a reported basis compared to the third quarter of 2022.

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