Robert Fishman

“As John mentioned, we delivered a record quarter in sales, adjusted operating income, return on sales, and adjusted EPS in Q2 despite lower volume. We also drove record free cash flow.”

“We achieved another strong quarter of quality earnings with triple-digit margin expansion and double-digit adjusted income and EPS growth despite lower volume. Sales outperformed our expectations as did margin and adjusted earnings.”

“We delivered another strong quarter of quality earnings. Sales rose 2% to $1.1 billion, while adjusted operating income increased 16% to $271 million. ROS expanded 310 basis points to 24.7%, driven by sales growth and transformation.”

“Let's start on Slide 11, titled Q2 2023 Pentair Performance. We delivered record second quarter sales of nearly $1.1 billion, up 2% year-over-year. This is compared to a previous sales record in last year's Q2 of $1.06 billion post the separation of nVent from Pentair in 2018.”

“Please turn to Slide 6 labeled Q1 2021 Pentair Performance. First quarter sales grew an impressive 22%, with core sales increasing 19%. Consumer Solutions grew in excess of 30%, and Industrial & Flow Technologies returned to growth for the first time in five quarters.”