Pentair Plc. · NYSE:PNR
Pentair — Q2 2026 Earnings Presentation
29 slides from Pentair's earnings presentation, Jul 28, 2026
Slide 1: Q2 2026 Earnings Release
- Picture to be updated Q2 2026 EARNINGS RELEASE JULY 28, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Without limitation
Slide 3: Key Definitions
Key Definitions • Except as otherwise noted, our results represent continuing operations for the period indicated, presented on an adjusted basis • Core sales refers to GAAP net sales from continuing operations excluding: (1) the impact of currency translation and (2) the impact of net sales from ac
Slide 4: Executive Summary
Executive Summary • Q2 slightly better than July 14th Pre-Announcement and reflects efforts to realign Pool channel inventory ahead of 2027 Pool season • Pool remains a fantastic business, and we believe it is well positioned for a return to robust growth in 2027 • Water Solutions and Flow remain on
Slide 5: Q2 Overview
Q2 Overview Q2 Performance negatively impacted by Pool channel inventory; Flow & Water Solutions record* ROS Sales Adjusted Operating Income ROS Adjusted EPS -17% YoY -20% YoY -100 bps YoY -18% YoY $1,123M 26.4% $1.39 $297M 25.4% $1.14 $933M $237M Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 ❑ Sa
Slide 6: Pool Overview and Growth Action Plan
Pool Overview and Growth Action Plan Q2 Sales Decline Drivers Opportunities for Growth • Major channel partners ✓ Reinforce premium position through quality, reliability, reduced near-term orders to adjust inventory levels and and service excellence improve turns ✓ Strengthen dealer engagement to en
Slide 7: Strategic Rationale & Benefits of Taco Acquisition
Strategic Rationale & Benefits of Taco Acquisition ✓ Creates a broader water-management platform extending into water circulation and hydronic flow control, and adding a market-leading brand to Pentair’s world-class water solutions portfolio – Creates opportunities to leverage Pentair’s existing res
Slide 8: Q2'26 Pentair Performance
Q2’26 Pentair Performance Sales Adjusted Operating Income $297M $1,123M $37M $8M $933M Flat $14M $237M ($232M) ($3M) ($73M) ($1M) (17%) Tariff Refunds (20%) YoY ~$35M YoY Gross Inflation ROS ~($36M) ROS (20 pts) 3 pts 0 pts 0 pts (17 pts) 26.4% (2.0%) (0.2%) (0.1%) 1.3% 25.4% (1 pt) Vol/Price Q2’25
Slide 9: Q2'26 Flow Performance
Move Water Q2’26 Flow Performance Sales Segment Income $3M $264M $12M Flat $6M $70M $12M $251M $6M $55M ($3M) 5% 27% ($8M) YoY Tariff Refunds YoY ~$6M Gross Inflation ~($9M) ROS ROS (3 pts) 2 pts 5 pts 1 pt 5 pts 21.8% 3.8% (0.1%) (1.4%) 2.4% 26.5% (1 pt) Vol/Price Q2’25 Volume Price Acq./Div. FX Q2
Slide 10: Q2'26 Water Solutions Performance
Improve Water Q2’26 Water Solutions Performance Sales Segment Income $445M $14M $4M $422M $9M $2M $126M ($26M) ($15M) $108M $7M Flat Tariff Refunds (5%) ~$18M 17% YoY Gross Inflation YoY ~($9M) ROS ROS (6 pts) 3 pts (3 pts) 1 pt (5 pts) 24.4% 3.4% (0.2%) 1.9% 0.5% 30.0% (1 pt) Vol/Price Q2’25 Volume
Slide 11: Q2'26 Pool Performance
Enjoy Water Q2’26 Pool Performance Sales Segment Income $427M $153M $17M Flat $1M $247M $4M $58M ($92M) ($1M) ($198M) (42%) ($6M) (62%) YoY Tariff Refunds YoY ~$11M Gross Inflation ROS ~($17M) ROS (46 pts) 4 pts 0 pts 0 pts (42 pts) 35.7% (11.5%) (0.3%) (1.4%) 0.9% 23.4% (1 pt) Vol/Price Q2’25 Volum
Slide 12: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Debt Summary Cash Flow ($M) $1,606M* Maturity Q2 2026 Q2 2025 YTD 2026 YTD 2025 Net Income – Continuing Ops $129 $149 $289 $303 $786M ~49% Fixed 2029 – 2032 Amortization 15 14 31 29 Subtotal $144 $163 $320 $332 Depreciation 14 15 29 29 $820M ~51% Variable 2027 – 2030 Capi
Slide 13: Q3 and Full Year 2026 Pentair Outlook & Expectations
Q3 and Full Year 2026 Pentair Outlook & Expectations • Full year sales guide includes previously communicated reduction in Pool Q3’26 FY’26 (vs 4/28/26 Guidance) • Right-sizing of channel Total Sales down ~4% to 6% Total Sales down ~4% to 7% (vs up ~2% to 4%) inventory positions the Sales Sales • Fl
Slide 14: Acquisition of Taco
»} PENTAIR ACQUISITION OF TACO
Slide 15: Transaction Overview
Transaction Overview • Acquisition of 100% of Taco Group Holdings, a market leader in hydronic and water-based solutions across mission-critical applications, Terms & including HVAC, data centers and related infrastructure buildout Valuation • Cash consideration of ~$1,425M, which represents a multi
Slide 16: Taco Is a Market Leading Hydronics and Water Solutions Provider
Taco Is a Market Leading Hydronics and Water Solutions Provider 100+ ~$540M Mid-Teens 20%+ 9 ~1,200 ~40M Years 2026E 2026 Revenue Adj. EBITDA Global Employees Units Installed of History Revenue Growth Margin(1) Manufacturing Globally Facilities North American leader in hydronic and water solutions f
Slide 17: Increased Scale and Enhanced Water Solutions Platform
Increased Scale and Enhanced Water Solutions Platform (2) ~14% increase in 2026E Revenue ~$4.0B ~$4.5B Flow Flow Pool Pool 24% 27% 32% 28% Increased scale and relevance of Water Solutions segment(1) Water Solutions Water Solutions 41% 48% Industrial Continued presence in commercial end 19% Commercia
Slide 18: Key Takeaways
Key Takeaways 1 Pool segment driving lower 2026 results with robust growth expected in 2027 2 Flow & Water Solutions remain on track 3 Tariff recoveries provided one-time benefit 4 Strategic acquisition of Taco will drive high growth in commercial and industrial 5 Continued confidence in our long-te
Slide 19: We Believe Pentair is a Compelling Investment Opportunity
We Believe Pentair is a Compelling Investment Opportunity An industry leader with a balanced, innovative water portfolio Productivity initiatives to drive operational efficiencies and margin expansion Sustainability focus on People, Planet and Governance to provide smart, sustainable water solutions
Slide 20: Pentair
> PENTAIR
Slide 21: Appendix: GAAP to Non-GAAP Measurements & Reconciliations
Appendix GAAP TO NON-GAAP MEASUREMENTS & RECONCILIATIONS
Slide 22: Reported To Adjusted 2026 Reconciliation
Reported To Adjusted 2026 Reconciliation Pentair plc and Subsidiaries Reconciliation of GAAP to Non-GAAP Financial Measures for the Year Ending December 31, 2026 Excluding the Effect of 2026 Adjustments (Unaudited) Actual Forecast First Second Third Full In millions, except per-share data Quarter Qu
Slide 23: Reported To Adjusted 2025 Reconciliation
Reported To Adjusted 2025 Reconciliation Pentair plc and Subsidiaries Reconciliation of the GAAP Year Ended December 31, 2025 to the Non-GAAP Excluding the Effect of 2025 Adjustments (Unaudited) First Second Third Fourth Full In millions, except per-share data Quarter Quarter Quarter Quarter Year Ne
Slide 24: Segment Information
Segment Information Pentair plc and Subsidiaries Supplemental Financial Information by Reportable Segment (Unaudited) 2026 2025 First Second Six First Second Six In millions Quarter Quarter Months Quarter Quarter Months Net sales Flow $ 258.1 $ 263.7 $ 521.8 $ 232.6 $ 250.9 $ 483.5 Water Solutions 3
Slide 25: Core Sales Growth Reconciliation
Core Sales Growth Reconciliation Pentair plc and Subsidiaries Reconciliation of Net Sales Growth to Core Net Sales Growth by Reportable Segment For the Quarter Ended June 30, 2026 (Unaudited) Q2 Net Sales Growth Core Currency Acq. / Div. Total Total Pentair (17.3)% 0.6 % (0.3)% (17.0)% Flow (0.8) %
Slide 26: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Pentair plc and Subsidiaries Reconciliation of the GAAP Operating Activities Cash Flow to the Non-GAAP Free Cash Flow (Unaudited) Three months Three months Six months ended ended ended March 31, June 30, June 30, In millions 2026 2026 2026 Net cash (used for) provided b
Slide 27: ROIC Reconciliation
ROIC Reconciliation Pentair plc and Subsidiaries Return on Invested Capital (ROIC) (Unaudited) Second Third Fourth First Second Quarter Quarter Quarter Quarter Quarter Dollars in millions 2025 2025 2025 2026 2026 Adjusted operating income $ 296.7 $ 262.6 $ 251.7 $ 259.1 $ 236.6 Reported effective ta
Slide 28: Last Twelve Months EBITDA Reconciliation
Last Twelve Months EBITDA Reconciliation Pentair plc and Subsidiaries Reconciliation of Net Income from Continuing Operations to EBITDA (Unaudited) Third Fourth First Second Last Quarter Quarter Quarter Quarter Twelve In millions 2025 2025 2026 2026 Months Net income from continuing operations $ 184
Slide 29: 2026 EBITDA Reconciliation
2026 EBITDA Reconciliation Pentair plc and Subsidiaries Reconciliation of Net Income from Continuing Operations to EBITDA for the Year Ending December 31, 2026 (Unaudited) Full Year at Midpoint In millions Outlook Net income from continuing operations approx $ 641 Adjustments: Intangible amortizatio