Pentair Navigates Economic Headwinds, Posts Q2 Earnings Beat, Updates Outlook & More
Pentair Navigates Economic Headwinds, Posts Q2 Earnings Beat, Updates Outlook & More
Flow sales decreased by 4% YoY to $396.8 million, Segment income of $84.4 million (+13% Y/Y), and the operating margin was 21.3%, an increase of 310 bps Y/Y.Pentair plc (NYSE:PNR) reported a second-quarter 2024 net sales rose 2% Y/Y to $1.099 billion, marginally beating the consensus of $1.095 billion.
滨特尔公司（NYSE：PNR）报告，2024年第二季度净销售额同比增长2％至10.99亿美元，略高于一致预期的10.95亿美元。
Excluding currency translation, acquisitions and divestitures, core sales grew 2% in the second quarter. The gross margin expanded to 39.8% from 36.9% a year ago.
除货币翻译，收购和剥离外，第二季度核心销售增长2％。毛利率从一年前的36.9％扩展到39.8％。
Operating income rose 19% YoY to $248 million, and the operating margin expanded 330 basis points Y/Y to 22.6%. On an adjusted basis, the operating margin increased by 310 basis points to 24.7% in the quarter.
营业利润同比增长19％至24800万美元，营业利润率同比扩大330个基点至22.6％。调整后，本季度营业利润率增加了310个基点至24.7％。
Flow sales decreased by 4% YoY to $396.8 million, Segment income of $84.4 million (+13% Y/Y), and the operating margin was 21.3%, an increase of 310 bps Y/Y.
流量销售同比下降4％至39680万美元，业务部门收入为8440万美元（同比增长13％），营业利润率为21.3％，同比增长310个基点。
Water Solutions sales were $310.5 million (-8% Y/Y), Segment income was $72.9 million (-3% Y/Y), and ROS was 23.5%, up 130 bps Y/Y.
水处理解决方案销售额为31050万美元（同比下降8％），业务部门收入为7290万美元（同比下降3％），ROS为23.5％，同比增加130个基点。
Pool segment sales were $391.5 million (+17% Y/Y), Segment income was $133.6 million (+27% Y/Y), and ROS was 34.1%, up 270 bps Y/Y.
游泳池部门销售额为39150万美元（同比增长17％），业务部门收入为13360万美元（同比增长27％），ROS为34.1％，同比增加270个基点。
Adjusted EPS rose 18% Y/Y to $1.22, surpassing the consensus of $1.14.
调整后的每股收益同比增长18％至1.22美元，超过预期的1.14美元。
For the quarter, net cash provided by operating activities of continuing operations was $539 million, and free cash flow from continuing operations was $522 million.
本季度，持续经营活动提供的净现金流为53900万美元，持续经营活动的自由现金流为52200万美元。
Dividend: The company announced a quarterly dividend of $0.23 per share, payable on August 2, to shareholders of record as of July 19.
股息：该公司宣布每股派息0.23美元，于8月2日支付给截至7月19日的股东。
In the second quarter, Pentair repurchased 0.6 million shares for $50 million. As of June 30, 2024, $550 million remained available under its share repurchase authorization.
滨特尔在第二季度回购了60万股，价格为5000万美元。截至2024年6月30日，其股票回购授权剩余5500万美元。
FY24 Outlook: Pentair revised adjusted EPS to $4.25 (from $4.15-$4.25) vs. consensus of $4.18; sees sales growth to be roughly flat to down 1% (vs. an increase of 2%-3% earlier) on a reported basis.
FY24展望：滨特尔将调整后的每股收益修正为4.25美元（从4.15-4.25美元），对比预期的4.18美元，预计报告基础销售额将大致持平至下降1％。
Third quarter 2024 Outlook: Pentair sees an adjusted EPS of $1.06 – $1.08 versus a consensus of $1.07. It expects sales to be down about 2%-3% on a reported basis.
第三季度2024展望：滨特尔预计调整后的每股收益为1.06-1.08美元，而分析师预计为1.07美元。它预计销售额在报告基础上下降约2％-3％。
Pentair CEO John L. Stauch said, "We expect stronger margin expansion than we previously guided despite continued global macroeconomic and geopolitical uncertainty which is pressuring sales in the second half of 2024. We are confident in our Transformation and 80/20 initiatives and expect them to drive strategic decisions and operational efficiencies across our balanced water portfolio."
滨特尔首席执行官约翰·L·斯托奇表示：“尽管全球宏观经济和地缘政治不确定性正在压缩2024年下半年的销售额，但我们预计比以前预期的利润率扩张更强。 我们对我们的变革和80/20计划充满信心，并期望它们在我们平衡的水产品组合中推动战略决策和运营效率。”
Investors can gain exposure to the stock via Invesco Global Water ETF (NASDAQ:PIO) and Global X Clean Water ETF (NASDAQ:AQWA).
投资者可以通过英富逊全球水资源ETF（NASDAQ：PIO）和Global X Clean Water ETF（NASDAQ：AQWA）获得该股票的曝光。
Price Action: PNR shares are up 6.7% at $85.35 at the last check Tuesday.
PNR股票在上周二最新检查时上涨6.7％至85.35美元。
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