Pentair reports Q1 adjusted EPS 91c, consensus 77c

Reports Q1 revenue $1.0B, consensus $997.68M. CEO John Stauch commented: "Our diversified portfolio delivered strong performance in the first quarter which exceeded our sales growth, margin expansion and EPS expectations. Transformation initiatives drove greater efficiencies across all three segments through pricing and sourcing while growth in Water Solutions and Industrial and Flow Technologies more than offset expected volume declines in Pool. Integration of our Manitowoc Ice acquisition remains on track and it has performed well with a strong backlog and accretive margins. We also published our Corporate Responsibility report last week highlighting progress towards our strategic targets. We are confident that our resilient portfolio is driving balanced growth and we are excited about the long-term shareholder value we expect to create through our Transformation initiatives across all three segments, as evidenced by our Q1 adjusted margin expansion of 330 basis points versus the prior year period. We plan to continue to push innovation and reimagine how we can Make Better Essential through our products and solutions, for people and our planet by helping our customers move, improve and enjoy water."