PNR - Pentair's Q1 Performance: Margins Surge Despite Revenue Dip CEO Confident In Future Growth | Benzinga
Pentair plc (NYSE:PNR) reported a first-quarter 2024 net sales decline of 1.11% year-over-year to $1.02 billion and a core sales decline of 1% year-over-year, beating the consensus of $1.01 billion.
The gross margin expanded to 38.4% from 37.1%. Operating income declined 1.53% YoY to $180.8 million, and the operating margin expanded to 17.8% from 17.9% a year ago.
On an adjusted basis, ROS expanded 90 bps to 21.4%.
Adjusted EPS was 94 cents, up from 91 cents YoY, beating the consensus of 90 cents.
Flow sales decreased by 2% YoY to $384.3 million, Segment income of $77.3 million (+19% Y/Y), ...