Pentair Surpasses Q1 Profit Estimates on Strong Demand
(Reuters) -Water technology firm Pentair beat analysts' estimates for first-quarter profit on Tuesday, helped by robust demand for its aftermarket pool maintenance and repair services.
The company, which is based in the UK and operates across 150 countries, also took measures to mitigate the impact of U.S. tariffs on its sales and supply chain.
"We stayed resilient and moved with speed during the first quarter to mitigate tariff impacts including implementing price increases, pre-buying inventory and capping orders to manage our supply chain," CEO John L. Stauch said.
Shares of Pentair were up 7% in premarket trading after it also maintained its 2025 revenue and adjusted profit outlook.
U.S. President Donald Trump's back-and-forth tariff policies have stirred uncertainty in global trade and raised fears of a recession as Washington also singled out China, the world's second-biggest economy, in its trade war.
Pentair has said it was taking steps to reduce reliance on China in its supply chain.
The United States accounted for nearly 70% of the company's sales in 2024. Pentair did not give a breakdown on how much China accounts for on its own.
On Tuesday, Pentair posted adjusted profit of $1.11 per share for the quarter ended March 31, compared with analysts' average expectation of $1.01, according to data compiled by LSEG.
Sales of $1.01 billion also beat an average estimate of $988.9 million, helped by a roughly 7% growth in pool segment revenues.
However, the company narrowed its profit outlook for 2025 from continuing operations to approximately $4.27 to $4.42 per share, compared with its previous guidance of roughly $4.37 to $4.52 per share.
(Reporting by Rupali Chaudhary in Bengaluru; Editing by Krishna Chandra Eluri)
