Pentair plc (NYSE: PNR) named Bob Fishman as interim Chief Financial Officer effective immediately, following the departure of Nicholas Brazis on July 10, 2026, to join a private company. The company has initiated a search for a permanent CFO. Fishman previously served as Pentair's Executive Vice President and CFO for six years.

The water solutions company also released preliminary second quarter 2026 results and revised its full year guidance, citing a larger-than-expected inventory destocking by pool channel partners combined with worsening business conditions including higher interest rates and inflation.

Second quarter sales are expected to be approximately $930 million, down roughly 17 percent from prior guidance of approximately 1 percent growth. The company estimates that pool channel destocking reduced Pool segment sales by approximately $170 million and Pool segment income by approximately $105 million. The company also received approximately $35 million in tariff refunds under the International Emergency Economic Powers Act (IEEPA).

Diluted EPS from continuing operations for the second quarter is expected to be approximately $0.80, compared with prior guidance of $1.39 to $1.42. Adjusted EPS is expected to be approximately $1.12, down from prior guidance of $1.47 to $1.50.

For the full year 2026, Pentair now expects sales to decline approximately 4 percent to 7 percent, compared with prior guidance of 2 percent to 4 percent growth. Full year GAAP EPS guidance was revised to $3.90 to $4.10, from a prior range of $4.83 to $4.93. Adjusted EPS guidance was lowered to $4.60 to $4.80, from $5.30 to $5.40. The company estimates pool channel destocking will reduce Pool segment sales by approximately $250 million and Pool segment income by approximately $155 million for the full year. IEEPA refunds for the year are expected to total $35 million to $50 million.

The company repurchased approximately 2.0 million shares for $150 million during the second quarter. Pentair's Flow and Water Solutions segments are expected to perform roughly in line with prior guidance for both the second quarter and full year. The company plans to report full second quarter results before the opening of the New York Stock Exchange on July 28, 2026, followed by an investor conference call at 9:00 a.m. Eastern Time.