Tue, Jul 23, 8:35 PM (46 days ago)
Pentair plc reported a 1.6% increase in Q2 2024 net sales to $1,099.3 million compared to Q2 2023. Gross profit rose by 9.6% to $437.9 million, driven by higher selling prices and productivity gains, despite inflationary pressures. Operating income increased by 18.9% to $248.0 million. Net income from continuing operations was $186.1 million, up from $154.2 million, with diluted EPS rising to $1.11 from $0.93. Cash flow from operations improved to $431.8 million for the first half of 2024, aided by better working capital management. The company repaid $237.5 million in debt and repurchased $50.0 million in shares during the quarter. Future uncertainties include ongoing inflation, supply chain issues, and the impact of global tax changes.