Pentair PLC (PNR)

Business Description

Pentair plc is a water industrial manufacturing company that focuses on providing innovative and sustainable solutions to address water quality issues and improve water use efficiency . The company is organized into three main reporting segments: Flow, Water Solutions, and Pool, offering a range of products such as fluid treatment systems, water filtration systems, and energy-efficient pool equipment . Pentair's business strategy emphasizes growth in core businesses, digital and ESG investments, and margin expansion through its Transformation Program .

Flow - Delivers water efficiently and transforms waste into value with products like fluid treatment and pump systems used in applications such as fluid delivery, desalination, and wastewater handling .
Pool - Offers energy-efficient pool equipment and accessories, catering to both residential and commercial markets .
Water Solutions - Provides commercial and residential water treatment products, including filtration systems and commercial ice machines, with a significant portion of sales from commercial operations .

Key Metrics

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Executive Team

Name	Position	Start Date	Short Bio
John L. Stauch	President and Chief Executive Officer	2018	John L. Stauch has been serving as the President and Chief Executive Officer of Pentair plc since 2018. He was previously the Chief Financial Officer of Pentair from 2007 to 2018 .
Adrian C. Chiu	Executive Vice President and President of the Water Solutions segment	January 1, 2023	Adrian C. Chiu has been the Executive Vice President and President of the Water Solutions segment since January 1, 2023. He previously served as Executive Vice President, Chief Human Resources Officer, and Chief Transformation Officer .
Robert P. Fishman	Executive Vice President, Chief Financial Officer, and Chief Accounting Officer	2020	Robert P. Fishman has been serving as the Executive Vice President, Chief Financial Officer, and Chief Accounting Officer of Pentair plc since 2020. He was previously with NCR Corporation in various financial leadership roles .
Tanya L. Hooper	Executive Vice President and Chief Human Resources Officer	January 1, 2023	Tanya L. Hooper joined Pentair on December 6, 2022, and her appointment as Executive Vice President and Chief Human Resources Officer was effective January 1, 2023. She previously worked at Honeywell International Inc. .
Jerome O. Pedretti	Executive Vice President and Chief Executive Officer of the Pool segment	January 1, 2023	Jerome O. Pedretti has been the Executive Vice President and Chief Executive Officer of the Pool segment since January 1, 2023. He has held various leadership roles at Pentair since 2005 .
Stephen J. Pilla	Executive Vice President, Chief Supply Chain Officer, and Chief Transformation Officer	January 1, 2023	Stephen J. Pilla has been with Pentair for almost 19 years and currently serves as the Executive Vice President, Chief Supply Chain Officer, and Chief Transformation Officer since January 1, 2023 .
Karla C. Robertson	Executive Vice President, General Counsel, Secretary, and Chief Social Responsibility Officer	2020	Karla C. Robertson has been serving in her current role since 2020. She was previously the Executive Vice President, General Counsel, and Secretary from 2018 to 2020 .
Philip M. Rolchigo	Executive Vice President and Chief Technology Officer	2018	Philip M. Rolchigo has been the Executive Vice President and Chief Technology Officer since 2018. He has held various technology leadership roles at Pentair since 2007 .
De'Mon L. Wiggins	Executive Vice President and President of the Flow segment	January 1, 2023	De'Mon L. Wiggins has been with Pentair for 13 years and is currently the Executive Vice President and President of the Flow segment since January 1, 2023. He previously held leadership roles in the Pool business .

Questions to Ask Management

Both Water Solutions and Flow had productivity challenges this quarter, which, excluding transformation benefits, might imply negative productivity in these areas. Was this entirely due to negative volumes, and how do you plan to address these productivity issues going forward?
Given the ongoing impact of higher interest rates and a slower housing market on your Pool segment, particularly affecting new and remodeled pools, what are your expectations for growth in this area, and are there any early signs of improvement you can share?
Your free cash flow has been strong year-to-date, seemingly well above the 100% conversion guide for the year. Are there any factors beyond typical seasonal ones that could impact free cash flow in Q4, and how should we think about cash flow generation going forward?
With your net debt leverage ratio now at 1.4x, down from 2.1x a year ago, how are you planning to strategically allocate capital, and is there a pipeline of deals you're looking at to further leverage a stronger demand environment?
Regarding your new PFAS certified filtration products, can you provide more details on the early uptake, who the primary customers are, and how you see this opportunity scaling in the future?

Program Details	Program 1
Approval Date	December 2020
End Date/Duration	December 31, 2025
Total additional amount	$750.0 million
Remaining authorization amount	$500.0 million (as of 2024-12-21)
Details	The program is part of a broader capital allocation strategy, aiming to offset dilution from equity incentive plans and strategically allocate capital to areas with the highest shareholder return. The company is focusing on debt reduction amid a higher interest rate environment.

Debt Maturity Schedule

Year	Amount Due (in millions)	Debt Type	Interest Rate (%)	% of Total Debt
2025	$19.3	Senior Notes - Fixed Rate	4.650	1.2% = (19.3 / 1,644.3) * 100
2027	$825.0	Term Loan Facility	6.446	50.2% = (825.0 / 1,644.3) * 100
2029	$400.0	Senior Notes - Fixed Rate	4.500	24.3% = (400.0 / 1,644.3) * 100
2032	$400.0	Senior Notes - Fixed Rate	5.900	24.3% = (400.0 / 1,644.3) * 100

Auditor

Name	Start Date	End Date	Reason for Change
Deloitte & Touche LLP	N/A	Present	Current auditor