Pentair PLC

PNR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$26.00	Zngwdwj	Mrgwgtr

Pentair Earnings: Transformation Initiatives Continue to Drive Solid Margin Expansion

Krzysztof Smalec

Apr 24, 2024

Narrow-moat-rated Pentair posted solid first-quarter results, as its adjusted earnings per share of $0.94 came in above management’s guidance range of $0.88-$0.91. Pentair reiterated its 2024 outlook and continues to expect full-year reported sales growth of 2%-3% and adjusted EPS of $4.15-$4.25. We’ve slightly raised our fair value estimate to $78 per share from $77 due to the time value of money, and we see shares as fairly valued at current levels.

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