Pentair reports Q3 2026 results

ITEM 2.02 Results of Operations and Financial Condition

On October 27, 2026, Pentair plc (the "Company") issued a press release announcing its earnings for the third quarter of 2026 and a conference call in connection therewith.¹ A copy of the release is attached hereto as Exhibit 99.1 and incorporated herein by reference.²

This press release refers to certain non-generally accepted accounting principles ("GAAP") financial measures (core sales, adjusted operating income, adjusted return on sales, adjusted net income from continuing operations, adjusted diluted earnings per share from continuing operations and free cash flow) and a reconciliation of those non-GAAP financial measures to the corresponding financial measures contained in the Company's financial statements prepared in accordance with GAAP.

The 2026 adjusted operating income, adjusted return on sales, adjusted net income from continuing operations and adjusted diluted earnings per share from continuing operations ("EPS") include equity income of unconsolidated subsidiaries and eliminate intangible amortization, costs of certain restructuring, transformation and other activities, deal-related costs and expenses, amortization of bridge financing fees and certain tax items. The 2025 adjusted operating income, adjusted return on sales, adjusted net income from continuing operations and adjusted diluted EPS include equity income of unconsolidated subsidiaries and eliminate intangible amortization, costs of certain restructuring, transformation and other activities, certain legal accrual adjustments and settlements, asset impairment and write-offs, loss on sale of business, deal-related costs and expenses, pension and other post-retirement mark-to-market loss and certain tax items.

We use the term "core sales" to refer to GAAP net sales from continuing operations excluding (1) the impact of currency translation and (2) the impact of net sales from acquired businesses recorded prior to the first anniversary of the acquisition, excluding the excess over prior year net sales of the acquired business less the net sales attributable to discontinued or divested businesses/product lines not considered discontinued operations ("acquisition sales"). The portion of GAAP net sales attributable to currency translation is calculated as the difference between (a) the period-to-period change in net sales (excluding acquisition sales) and (b) the period-to-period change in net sales (excluding acquisition sales) after applying current period foreign exchange rates to the prior year period. We use the term "core sales growth" to refer to the measure of comparing current period core net sales with the corresponding period of the prior year.

Management utilizes these adjusted financial measures to assess the run-rate of its continuing operations against those of prior periods without the distortion of these factors. The Company believes that these non-GAAP financial measures will be useful to investors as well to assess the continuing strength of the Company's underlying operations. In addition, adjusted EPS is used as a criterion to measure and pay long-term incentive compensation and adjusted operating income is used as a criterion to measure and pay annual incentive compensation. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

The Company uses free cash flow to assess its cash flow performance. The Company believes free cash flow is an important measure of liquidity because it provides the Company and its investors a measurement of cash generated from operations that is available to pay dividends, repurchase shares and repay debt. In addition, free cash flow is used as a criterion to measure and pay annual incentive compensation. The Company's measure of free cash flow may not be comparable to similarly titled measures reported by other companies.

ITEM 9.01 Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired

Not applicable.

(b) Pro Forma Financial Information

Not applicable.

(c) Shell Company Transactions

Not applicable.

(d) Exhibits

EXHIBIT INDEX

Exhibit Description

99.1

Pentair plc press release dated October 27, 2026 announcing earnings for the third quarter of 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on October 27, 2026.

PENTAIR PLC

Registrant

By /s/ Robert P. Fishman

Robert P. Fishman

Interim Executive Vice President and Chief Financial Officer

By /s/ Jennifer M. Hensley

Jennifer M. Hensley

Senior Vice President, Chief Accounting Officer and Controller

News Release

Pentair Reports Third Quarter 2026 Results

• Sales of $976 million

• Operating income was $196 million with ROS of 20.1 percent; 24.8 percent on an adjusted basis⁵

• GAAP EPS was $0.91 and adjusted EPS was $1.18

• The Company's results include approximately $8 million of International Emergency Economic Powers Act ("IEEPA") refunds during the quarter

• The Company updates its full year 2026 GAAP EPS guidance to approximately $3.76, and reaffirms its previous full year adjusted EPS midpoint of approximately $4.70⁸

Reconciliations of GAAP to Non-GAAP measures are in the attached financial tables.

LONDON, United Kingdom — October 27, 2026 — Pentair plc (NYSE: PNR), a leader in helping the world sustainably move, improve and enjoy water, life's most essential resource, today announced third quarter 2026 sales of $976 million.^{3 3}Sales were down 4 percent compared to sales for the same period last year.³ Excluding currency translation, acquisitions and divestitures, core sales declined 5 percent in the third quarter.⁴ Third quarter 2026 earnings per diluted share from continuing operations ("EPS") were $0.91 compared to $1.12 in the third quarter of 2025⁶, a 19 percent decrease. On an adjusted basis, the Company reported third quarter 2026 EPS of $1.18 compared to $1.24 in the third quarter of 2025⁷, reflecting a 5 percent decrease. Adjusted operating income, reportable segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.

John L. Stauch, Pentair's President and Chief Executive Officer commented, "We delivered solid third-quarter results across sales, income and EPS. Our teams executed well during the quarter and responded with focus and urgency following a challenging second quarter in our Pool segment. We continue to make progress across our key priorities, while maintaining our commitment to serving customers, driving productivity and managing the business with discipline. We are encouraged by our performance and believe the actions we are taking are strengthening Pentair and positioning us for significant growth in 2027. We remain focused on finishing the year strong, delivering on our commitments and creating long-term value for our shareholders."

Third quarter 2026 operating income was $196 million, down 15 percent compared to operating income for the third quarter of 2025, and return on sales ("ROS") was 20.1 percent, a decrease of 260 basis points when compared to the third quarter of 2025. On an adjusted basis, the Company had adjusted operating income of $242 million for the third quarter of 2026, down 8 percent compared to adjusted operating income for the third quarter of 2025, and ROS was 24.8 percent, a decrease of 90 basis points when compared to the third quarter of 2025.

Flow sales were up 4 percent compared to sales for the same period last year.⁹ Excluding currency translation, acquisitions and divestitures, core sales grew 1 percent in the third quarter. Reportable segment income of $69 million was up 15 percent compared to the third quarter of 2025, and ROS was 26.2 percent, an increase of 250 basis points when compared to the third quarter of 2025.

Water Solutions sales were up 1 percent compared to sales for the same period last year.⁹ Excluding currency translation, acquisitions and divestitures, core sales grew 1 percent in the third quarter. Reportable segment income of $121 million was up 16 percent compared to the third quarter of 2025, and ROS was 28.7 percent, an increase of 370 basis points when compared to the third quarter of 2025.

Pool sales were down 18 percent compared to sales for the same period last year.⁹ Excluding currency translation, acquisitions and divestitures, core sales declined 18 percent in the third quarter. Reportable segment income of $72 million was down 38 percent compared to the third quarter of 2025, and ROS was 24.6 percent, a decrease of 820 basis points when compared to the third quarter of 2025. Third quarter Pool performance reflected the completion of the inventory realignment with our major channel partners.¹⁰

Net cash provided by operating activities was $169 million for the quarter compared to $196 million in the third quarter of 2025.^{11 11}Free cash flow for the quarter was $153 million¹¹ compared to $179 million in the third quarter of 2025.

(more)

2

SHAREHOLDER RETURNS

Pentair paid a regular cash dividend of $0.27 per share in the third quarter of 2026. In addition, Pentair previously announced on September 21, 2026 that it will pay a regular quarterly cash dividend of $0.27 per share on November 6, 2026 to shareholders of record at the close of business on October 23, 2026. This year marks the 50th consecutive year that Pentair has increased its dividend.

OUTLOOK

Mr. Stauch concluded, "Our solid third-quarter performance increases our confidence in the full-year outlook and enables us to reaffirm the midpoint of our previous guidance range. We remain focused on disciplined execution and building on this momentum as we deliver a strong finish to the