The company said consolidated net sales decreased 0.4% in 2023 from 2022, and that gross profit as a percentage of net sales rose 3.9 percentage points.

1. 01

   The company said consolidated net sales decreased 0.4% in 2023 from 2022, and that gross profit as a percentage of net sales rose 3.9 percentage points.

2. 02

   Pentair said net sales in 2023 rose 5.4% for Flow and 19.3% for Water Solutions, and fell 17.7% for Pool, compared with 2022. It cited the acquisition of Manitowoc Ice, completed in Q3 2022, as one factor behind the Water Solutions increase.

3. 03

   The company said net cash provided by operating activities of continuing operations in 2023 mainly reflected income from continuing operations of $653.1 million, after adjusting for non-cash items such as depreciation, intangible amortization, asset impairment and deferred income taxes. It also said changes in net working capital caused a cash outflow of $61.3 million.

4. 04

   The company said cash used for financing activities in 2023 mainly related to net repayments of revolving long-term debt of $320.0 million and dividend payments of $145.2 million. It said there were no share repurchases in 2023.

Key figures

Fiscal year ended December 31, 2023

Revenue

$4.1B

Operating income

$739M

Net income

$623M

EPS

$3.75

Gross profit

$1.5B

Operating cash flow

$619M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.