LONDON, July 14, 2026--(BUSINESS WIRE)--Pentair plc (NYSE: PNR), a leader in helping the world sustainably move, improve and enjoy water, life's most essential resource, announced today that it has initiated a search to identify its next Chief Financial Officer ("CFO") and that Bob Fishman, Pentair's former Executive Vice President and CFO, has been appointed Interim Executive Vice President and CFO, effective immediately. Fishman's appointment follows Nicholas Brazis' departure from the company on July 10, 2026, to pursue another opportunity at a private company. The company also announced today preliminary financial results for the second quarter of 2026 and provided revised guidance for full year 2026.
CFO TRANSITION
John L. Stauch, President and Chief Executive Officer of Pentair, said, "Our Board and leadership team are pleased to have Bob Fishman rejoin Pentair on an interim basis as we conduct a search for his successor. During Bob's six year tenure at Pentair, he helped to strengthen our financial foundation and enhance our operating discipline. Given his deep financial expertise, clear understanding of our business and strong relationships across Pentair and the financial community, I am confident he will step back in seamlessly as we execute on our key strategic and financial priorities to build long-term value."
Bob Fishman said, "I'm excited to return to Pentair and support the company during this transition. Pentair has a strong portfolio, talented team and clear strategy for long-term success. I'm optimistic about the opportunities ahead and look forward to working alongside John and the team to support disciplined execution and create value for our customers, shareholders and employees."
PRELIMINARY SECOND QUARTER 2026 RESULTS AND FULL YEAR 2026 GUIDANCE
Separately, the company also announced today preliminary results for the second quarter 2026 and provided revised guidance for the full year 2026.
Preliminary Second Quarter 2026 Results:
Sales are expected to be approximately $930 million, down 17 percent versus previous guide of up approximately 1 percent primarily due to the adverse impact of Pool channel inventory
Operating income from continuing operations is expected to be approximately $165 million; Adjusted Operating Income is expected to be approximately $235 million as the result of the adverse impact of Pool channel inventory and the positive impact of recoveries of tariffs previously collected under the International Emergency Economic Powers Act ("IEEPA")
Earnings per diluted share from continuing operations ("EPS") are expected to be approximately $0.80 versus previous guidance of $1.39 to $1.42; Adjusted EPS is expected to be approximately $1.12 versus previous guide of $1.47 to $1.50 as the result of the adverse impact of Pool channel inventory and the positive impact of IEEPA refunds
The company estimates that the destocking of inventory in the Pool channel negatively impacted Pool segment sales by approximately $170 million and Pool segment income by approximately $105 million
The company's results are expected to include approximately $35 million of IEEPA refunds