PENTAIR plc

Pentair plc announced a significant management change with the resignation of Executive Vice President and CFO Nicholas J. Brazis, effective July 10, 2026. Robert P. Fishman, a former CFO of the company, has been appointed Interim Executive Vice President and CFO. Concurrently, Pentair provided preliminary second-quarter 2026 financial results and revised its full-year 2026 guidance downwards, primarily due to a more pronounced inventory realignment in the Pool channel and worsening business conditions. The company expects Q2 sales to be approximately $930 million and Adjusted EPS around $1.12, with full-year sales projected to be down 4%-7% and Adjusted EPS between $4.60-$4.80.

Pentair plc and its subsidiaries, Pentair Finance S.à r.l. and Pentair, Inc., amended their Second Amended and Restated Credit Agreement on May 5, 2026. This amendment introduces a new $500 million Term Loan Facility, which refinances and replaces the term loans outstanding under a previous Loan Agreement. As a result, the prior Loan Agreement was fully prepaid and terminated. Following these transactions, the company has $500 million in term loans and $628.6 million in revolving loans outstanding under the Senior Credit Facilities, which mature on May 5, 2030.

Pentair plc reported a strong first quarter for 2026, with net sales increasing by 2.6% to $1.04 billion and net income rising 11.3% to $172.4 million. Diluted earnings per share grew to $1.05. The company also repurchased $200.0 million of ordinary shares and incurred $25.2 million in restructuring and transformation costs. Net cash used for operating activities increased to $67.4 million, and total debt rose to $1,944.3 million.

Pentair plc announced leadership changes, including the resignation of Jerome O. Pedretti, Executive Vice President and Chief Executive Officer, Pool, effective July 1, 2026. Concurrently, the company eliminated the Chief Executive Officer, Pool role. Mr. Pedretti will receive severance benefits. De’Mon L. Wiggins, previously EVP and President, Flow and Water Solutions, was appointed Executive Vice President and President, Flow, Water Solutions and Pool, effective April 28, 2026.

Pentair plc reported strong first-quarter 2026 results with sales of $1,037 million, a 3% increase year-over-year, and core sales growth of 1%. GAAP EPS increased 5% to $0.98, while adjusted EPS rose 10% to $1.22. The company repurchased $200 million of ordinary shares and updated its full-year 2026 GAAP EPS guidance to $4.83-$4.93 and adjusted EPS guidance to $5.30-$5.40, reflecting continued optimism and strong execution across its water portfolio.