PNR - Pentair Shows Improved Profitability Despite Sales Decline Charts Upward Growth Path For 2024 | Benzinga
Pentair PLC (NYSE:PNR) reported a fourth-quarter fiscal 2023 net sales decline of 1.8% year-over-year to $984.6 million and a core sales decline of 2% Y/Y, beating the consensus of $976.02 million.
The gross margin expanded to 37.2% from 32.4%. Operating income rose 49.6% Y/Y to $167 million, and the operating margin expanded to 17% from 11.1% a year ago.
Adjusted EPS was $0.87, up from $0.82 YoY, beating the consensus of $0.86.
Flow (previously named Industrial & Flow Technologies) sales increased by 1% Y/Y to $378.5 million, Segment income of $65 million (flat Y/Y), and ROS was 17.2%, a decrease of 20 bps Y/Y.
Water Solutions sales were $269.6 million (-5% Y/Y), Segment ...