Pentair plc Files Q3 2024 10-Q Report
Ticker: PNR · Form: 10-Q · Filed: Oct 22, 2024 · CIK: 77360
| Field | Detail |
|---|---|
| Company | Pentair PLC (PNR) |
| Form Type | 10-Q |
| Filed Date | Oct 22, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Pentair's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
Pentair plc filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial details and operational updates for this period are presented in the report.
Why It Matters
This 10-Q filing provides investors and analysts with the latest financial performance and operational insights for Pentair plc, crucial for understanding the company's current standing and future outlook.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- PENTAIR plc (company) — Filer of the 10-Q report
- 0000077360 (company) — Central Index Key for Pentair plc
- 20240930 (date) — Conformed period of report
- 20241022 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is September 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on October 22, 2024.
What is Pentair plc's Central Index Key (CIK)?
Pentair plc's Central Index Key is 0000077360.
What is the fiscal year end for Pentair plc?
Pentair plc's fiscal year ends on December 31.
What is the Standard Industrial Classification (SIC) code for Pentair plc?
Pentair plc's SIC code is 3550, categorized under SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY).
Filing Stats: 4,812 words · 19 min read · ~16 pages · Grade level 6.3 · Accepted 2024-10-22 16:45:44
Key Financial Figures
- $0.01 — istered Ordinary Shares, nominal value $0.01 per share PNR New York Stock Exchange
Filing Documents
- pnr-20240930.htm (10-Q) — 1318KB
- ex311ceocertificationq32024.htm (EX-31.1) — 9KB
- ex312cfocertificationq32024.htm (EX-31.2) — 9KB
- ex321ceocertificationq32024.htm (EX-32.1) — 5KB
- ex322cfocertificationq32024.htm (EX-32.2) — 5KB
- pnr-20240930_g1.jpg (GRAPHIC) — 202KB
- 0000077360-24-000047.txt ( ) — 7847KB
- pnr-20240930.xsd (EX-101.SCH) — 49KB
- pnr-20240930_cal.xml (EX-101.CAL) — 96KB
- pnr-20240930_def.xml (EX-101.DEF) — 169KB
- pnr-20240930_lab.xml (EX-101.LAB) — 628KB
- pnr-20240930_pre.xml (EX-101.PRE) — 430KB
- pnr-20240930_htm.xml (XML) — 1137KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
Financial Statements (unaudited)
ITEM 1. Financial Statements (unaudited) Condensed Consolidated Statements of Operations and Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Changes in Equity 6 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures about Market Risk
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 33
Controls and Procedures
ITEM 4. Controls and Procedures 33
OTHER INFORMATION
PART II OTHER INFORMATION
Legal Proceedings
ITEM 1. Legal Proceedings 34
Risk Factors
ITEM 1A. Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 35
Other Information
ITEM 5. Other Information 35
Exhibits
ITEM 6. Exhibits 36
Signatures
Signatures 37 2 Table of Contents
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Pentair plc and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) Three months ended Nine months ended In millions, except per-share data September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Net sales $ 993.4 $ 1,008.8 $ 3,109.9 $ 3,119.9 Cost of goods sold 600.2 637.0 1,888.7 1,966.8 Gross profit 393.2 371.8 1,221.2 1,153.1 Selling, general and administrative expenses 190.4 166.2 540.7 504.6 Research and development expenses 22.9 25.5 71.8 76.3 Operating income 179.9 180.1 608.7 572.2 Other expense (income) Net interest expense 19.8 27.5 73.4 91.7 Other (income) expense ( 0.1 ) ( 0.3 ) 0.8 ( 4.4 ) Income from continuing operations before income taxes 160.2 152.9 534.5 484.9 Provision for income taxes 20.6 20.8 75.3 70.1 Net income from continuing operations 139.6 132.1 459.2 414.8 Loss from discontinued operations, net of tax — — ( 0.2 ) ( 0.1 ) Net income $ 139.6 $ 132.1 $ 459.0 $ 414.7 Comprehensive income, net of tax Net income $ 139.6 $ 132.1 $ 459.0 $ 414.7 Changes in cumulative translation adjustment 32.3 ( 24.0 ) 0.5 ( 14.1 ) Changes in market value of derivative financial instruments, net of tax ( 35.5 ) 18.5 ( 6.6 ) 11.0 Comprehensive income $ 136.4 $ 126.6 $ 452.9 $ 411.6 Earnings per ordinary share Basic Continuing operations $ 0.84 $ 0.80 $ 2.77 $ 2.51 Discontinued operations — — — — Basic earnings per ordinary share $ 0.84 $ 0.80 $ 2.77 $ 2.51 Diluted Continuing operations $ 0.84 $ 0.79 $ 2.75 $ 2.50 Discontinued operations — — — — Diluted earnings per ordinary share $ 0.84 $ 0.79 $ 2.75 $ 2.50 Weighted average ordinary shares outstanding Basic 165.6 165.2 165.7 165.0 Diluted 167.0 166.6 167.2 166.2 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents Pentair plc and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) September 30, 2024 December 31, 20