07292016Fri
Last updateFri, 29 Jul 2016 2pm

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Pentair Reports Second Quarter 2016 Results

Pentair plc announced second quarter 2016 sales of $1.7B. Sales were up 4% compared to sales for the same period last year. Excluding the unfavorable impact of currency translation and the positive contribution from acquisitions, core sales declined 3% in the second quarter. Second quarter 2016 earnings per diluted share from continuing operations (EPS) were $0.78 compared to $0.84 in the second quarter of 2015. On an adjusted basis, the company reported EPS of $1.11 compared to $1.08 in the second quarter of 2015. Segment income, adjusted net income, free cash flow, and adjusted EPS are described in the attached schedules. 


ValvTechnologies Names Bryant Holt Industry Director, Fossil Power

ValvTechnologies, Inc. has appointed Bryant Holt as industry director for the company’s fossil power division. Holt will succeed George Stover, who has served in this role since 2014.

Based in Houston, Holt will have global management responsibility for ValvTechnologies’ fossil power group and sales activities worldwide as well as developing long-term strategies for business growth and customer performance in the global fossil power severe service marketplace.

Bryant Holt brings more than 20 years’ experience in the valve industry to ValvTechnologies, most recently serving as global director of control valve sales for CIRCOR International. Previously, he served as sales manager, global projects and key account manager for North America for Pentair Valves and Controls. 

Crane Co. Reports Second Quarter 2016 Results

Crane Co. reported second quarter 2016 GAAP earnings of $1.15 per diluted share, compared to $0.95 per share in the second quarter of 2015. Excluding Special Items, second quarter 2016 earnings per diluted share were $1.21, compared to $1.06 per share in the second quarter of 2015.

Second quarter 2016 sales were $712 million, approximately flat compared to $711 million in the second quarter of 2015. Core sales increased $7 million, or 1%, offset by a $6 million, or 1%, impact from unfavorable foreign exchange.

Operating profit in the second quarter was $103 million, up 14% compared to $90 million in the second quarter of 2015.

Emerson Exploring Acquisition of Pentair Valves & Controls

Reuters UK has spoken to sources that confirm Emerson has made an offer to acquire Pentair Valves & Controls. Pentair Plc added the Valves & Controls division after its merger with Tyco Flow Control in 2012.

“Pentair has received offers for the valves and controls business from companies other than Emerson, and there is no certainty that it will agree to any deal, the people said. The unit for sale could be valued at around $2 billion, the people added.” 

Pentair Valves & Controls Rolls Out Customer Education Program

Pentair Valves & Controls has introduced the Pentair University customer education program for past, present and prospective clients and industry leaders in various locations throughout the world. Pentair University’s invitation-only seminars are free to attend. In some regions of the world, Pentair University attendees earn continuing education units (CEUs) to help them maintain their engineering certifications.

Pentair has successfully hosted Pentair University seminars thus far in 2016 in Denver, Kansas City, the United Arab Emirates and Thailand. Additional Pentair University seminars are planned for locations in Florida, North Carolina, Nevada and Texas as well as cities in Canada, Qatar, Spain and Turkey.  

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