Pentair forecasts annual profit below estimates amid high borrowing cost

Pentair

04/02/2025 14:21

Feb 4 (Reuters) - Water technology company Pentair
 PNT.F  forecast 2025 profit below estimates on Tuesday and
flagged slow demand in its flow and water solutions segments,
sending its shares down 2.6% before the bell.
    A slow housing market due to high borrowing costs have led
to less demand for some of the company's residential products.
        The flow segment, which accounted for 38% of Pentair's
total revenue in 2023, makes fluid treatment and pump solutions,
while the water solutions segment offers water treatment
products and services.
    Sales in the flow and water solutions segment were down 5
percent and 4 percent respectively in the fourth quarter of 2024
compared with the same period last year.
    Pentair, which is based in the UK and operates in 150
countries, forecast 2025 adjusted profit per share between $4.65
and $4.80, below analysts' average estimate of $4.82 per share,
according to data compiled by LSEG.
    But the company posted adjusted per-share profit of $1.08 in
the fourth quarter, beating analysts' average estimate of $1.01,
helped by high demand for the company's pool business.
    Sales for the quarter ended December 31 were at $972.9
million, compared with analysts' estimate of $972.4 million.

 (Reporting by Rupali Chaudhary in Bengaluru; Editing by Sahal
Muhammed)
 ((Rupali.Chaudhary@thomsonreuters.com;))