Pentair 4Q sales up 2 percent
Pentair plc announced fourth quarter 2019 sales of $755 million, up 2 percent compared to $740 million for the same period last year.
Excluding currency translation, acquisitions and divestitures, core sales declined 1 percent in the fourth quarter.
Net income of $97.8 million in the quarter, or 61 cents per diluted share, compared to $92.9 million, or 55 cents, in the fourth quarter of 2018.
For the full year, sales of $2.96 billion were essentially flat compared to the previous year. Net income of $355.7 million for 2019 compared to net income of $347.4 million in 2018.
In a separate announcement, Pentair said that Mark Borin has informed the company of his intention to resign as executive vice president, chief financial officer and chief accounting officer and that he has accepted an operational leadership opportunity at a private, employee-owned company. Pentair has commenced a search for the company’s next CFO, and Borin plans to remain in his role with Pentair through the search process and to assist with an orderly transition.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about the ISA's Veterans Empowerment Network. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
