ITEM 7.01 Regulation FD Disclosure.

On September 10, 2020, Pentair plc (the "Company") confirmed its full year estimated 2020 GAAP earnings per diluted share from continuing operations ("EPS") of approximately $1.70 to $1.90 and on an adjusted basis of approximately $2.00 to $2.20 in advance of upcoming investor meetings. The Company continues to expect 2020 sales of approximately $2.8 billion and to target free cash flow of greater than 100 percent of net income.

Consistent with comments on its July 23, 2020 earnings conference call, the Company's estimates include the following assumptions: - The Pool business has continued to benefit from strong demand across the

country as weather remains favorable and consumers invest in their homes.

- The remainder of the Residential businesses have mostly stabilized.




-      The Commercial and Industrial businesses have continued to experience a
       slower recovery.


-      COVID-19 continues to be a challenge and could potentially disrupt the
       Company's ability to meet new productions introductions, impact the
       Company's manufacturing capability, and disrupt the Company's supply
       chains.

FORWARD-LOOKING STATEMENTS This report contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "should," "would," "could," "positioned," "strategy," "future" or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the overall impact of the COVID-19 pandemic on our business; the duration and severity of the COVID-19 pandemic; actions that may be taken by us, other businesses and governments to address or otherwise mitigate the impact of the COVID-19 pandemic, including those that may impact our ability to operate our facilities, meet production demands, and deliver products to our customers; the negative impacts of the COVID-19 pandemic on the global economy, our customers and suppliers, and customer demand; overall global economic and business conditions impacting our business, including the strength of housing and related markets; demand, competition and pricing pressures in the markets we serve; volatility in currency exchange rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; the ability to achieve the benefits of our restructuring plans and cost reduction initiatives; risks associated with operating foreign businesses; the impact of material cost and other inflation; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019 and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this report. We assume no obligation, and disclaim any obligation, to update the information contained in this report.

NON-GAAP MEASURES

This report refers to certain non-generally accepted accounting principles ("GAAP") financial measures (adjusted diluted EPS). 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 is set forth below.

The 2020 adjusted EPS eliminates intangible amortization, certain targeted restructuring and other activities, novel coronavirus 2019 ("COVID-19") related costs and expenses, and certain tax items.

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. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

--------------------------------------------------------------------------------




                           Pentair plc and Subsidiaries
     Reconciliation of the GAAP year ending December 31, 2020 to the non-GAAP
               excluding the effect of 2020 adjustments (Unaudited)

                                                                   Forecast
In millions, except per-share data                                Full Year
Net sales                                                    approx $        2,800

Net income from continuing operations-as reported            approx    $284 - $317
Restructuring and other                                      approx              4
Intangible amortization                                      approx             28
COVID-19 related costs and expenses                          approx              6
Income tax adjustments                                       approx             12
Net income from continuing operations-as adjusted            approx    $334 - $367
Continuing earnings per ordinary share-diluted
Diluted earnings per ordinary share-as reported              approx  $1.70 - $1.90
Adjustments                                                  approx           0.30
Diluted earnings per ordinary share-as adjusted              approx  $2.00 - $2.20


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

© Edgar Online, source Glimpses