and everyone. you, number Please morning, Executive good Summary. Thank X, Jim, turn to titled Slide
line in which interest and and offset our expectations. from announce XX% that partial ROS QX included our growth price recently-completed were challenges, results grew in a incremental points, XX% income to were strong and included rising our our productivity quarter QX, pleased basis that debt $X.XX near-term are EPS adjusted growth acquisition. with demonstrating of Manitowoc of Ice segment to our rates. We inflation, expanded and XXX of Sales X% considering acquisitions and
full is off excited call. and portfolio fast Solutions to Water the process are in the the more will of year platform, updated give team and XXXX addition our of to detail start. and guidance Bob the Ice our integration We very later our about expansion commercial a on this
have the While FX to after QX our thought out interest headwinds is playing way year due earnings primarily we call. expectations would rates, we modestly the and generally our it increased reduced year higher full
pool We expect inventory are of previously nearly begin the in as the supply residential is $XXX updated communicated end addressing year. believe of which that channel seeing the have most will we to our the correction we cleared our inventory we million by abate. now now challenges guidance, chain With channels, industry of
main sustain people of operate is turn the Purpose. we to well a still moment the the we to We needed requiring the are But are efficiently. ongoing that more positioned to to support sustainable the of within remind operate labeled Slide our turn believe Pentair's Please solutions X, lot wanted is water a adjusted is way. in year. Today, are reduce income, some Water. segment a that of challenges, reuse XX% some take the interest I grow sell that encouraged will Slide X, I and you shorter to water thoughts on believe rates toughest and US well through that recovery challenges we of With of to lives or number the efficiency positioned speak everything to in a going despite sales, distributor Please margins industry. helping usage, With solutions to next term and reacting dealer world's by few believe to underlying market water, on over planning. and we to EPS evidenced number or about slides labeled demand residential rising energy XXXX. preliminary up less as through solve year-over-year and energy Pentair improve water challenges, takeaway or our
more is sustainability you, Our planet, report our only further progress. Glance. our We not and has employees, Please customers, shown to shareholders. as but important annual X, Slide a to customers, We standards our and believe number important purpose labeled very to high that our shareholders well. is at benefits and turn progress to growing hold the employees ourselves Pentair
portfolio. particularly on our back of focus diversity much remind how the people and take Given wanted we has a of Pool, been residential step businesses, Pentair the to
On inclusive of and how they our revenue help residential comes and half three help I basis, our sales US our mission will applications. our the slides of improve sustainably our resource. next current water, most to full Agricultural other this acquisition, Ice move, half pro Residential, and other served talking Manitowoc life's we the the few Commercial, a businesses Our the comprised world roughly spend essential forma for Pentair as in company and And of and a the is industries. about Industrial results. XXXX overall enjoy do from year guidance, comprise
on with trade in the for on year our an funnel ROS teens. track served important a strong XX% relationships revenue of of replacement large and that partners from Pentair. generate installed as trade our $X with inside and steady high are over new resiliency have profitability our benefits believe growth installed partners. billion over focus XX,XXX continued base the are in channel this We introduced. a drive number a products create we technologies large for and We sales products to base is are and XX
We successful have track allocation. flow of generating a and with disciplined record long, being capital cash our
a we know high XX ROIC, been good we consecutive [loans]. that have increased have have our demonstrating teens we stewards invested proud are your We very believe with especially we In our of fact, can quarter new will for foundation, and Success. and segments, more labeled X, X, and years, we effective solid last Consumer that dividend is announced Water our Organization Solutions for Solutions. into two segment Aligning be still January Accelerated Please Pool XXXX, Slide we to We turn that do. we there splitting
will maker differentiate drive and Technologies Flow believe Slide We Pool structure profitability track Sunbelt segment return equipment improve of Pool X, largest the in shareholders. CAGR generate sales America, in our $X.X for a billion new & Pool the remain our high on to XX%. help products has to and on unchanged. will accelerate installed year is segment base leading sales states. us our number year, XX across this North with customer Please labeled XXs Business. a Industrial primarily in-ground approximately turn efforts to Our is service, in revenue the has generated this
professionals for source business preferred Pool a all trusted partners and are to We pools. things
using and sustainably chemicals. enjoy less energy by Our Pool Business helps people water
characteristics is North in of serving roughly age new is attractive pools. is large XX most The industry the the pools. and of remodeling XX% these pools and a XX% approximately of million industry pool XX% break of years. approaching average One X.X major The America base installed fix,
increase hotels. penetrated were pools to with and last a or undoubtedly staying was demand on such an [bath]. heaters years, and wanting the warmer two pool buying products with Over Vrbo Airbnb The rent there as climates moving to that pool the People homes been cleaners in and for homes not pool. people deeply than build were emergence was in rather a of
in-ground starting kept from disruptions some faced the that and by shipments industry to as industry up supply chain opportunity Our our of have chain many of and this variable labor. half for dealers lack available as Pool shipping these automation about speed have another Pentair, leading constrained continue is supply industry catch of pools to us long the believe form we the pumps we term consumers. Only improves. the wants, as have on be are but
dealers strong to been While busier particularly in opportunities with of to continue believe may expense grow years, key last the come categories, have new pools two has in at We pumps. we this activity. remodeling have the
new to technology get feedback as we launched pump our leading an in in long We our soft business. position Our outlook are to pumps. very build to term position opportunity pool American well positive very remains leader Slide this meet initial enhance and The a able Water and not as positive, the this Please enough and North turn equipment. is labeled Solutions to for were believe positioned IFX we XX, demand. drives the believe is on pool pool chips was to industry we year,
with approaching $X.X two of its Solution's The thirds our Solutions a approximately and a on undergone of growth XX%. to Water has is Manitowoc Water specialists. transformation return water business in into sales with in business Water of acquisition percentage Ice. treatment basis, Similar large Residential. own sales our trusted its business distribution third Solutions Pool, Our sales Commercial billion pro forma a roughly of On sees one
while ice tasting, Our quality customers business use water water providing and Water productively. Solutions great more higher improves helping our by water
together business, Solutions and foodservice acquisition business Water Manitowoc given ice commercial a filtration our with of this business provide Everpure created we When have We Ice. customers. to a have our to services KBI year our and discussed quality platform water put leading quite the lot our
Residential Treatment Our of business and Water components consists systems.
and focus reestablishing components while use also is of the investing Water core point of differentiated Our Residential point within Treatment in inventory systems.
strong our position a [pro with have We core specialists. trade]
in where the such channels. and improvement water respective Solutions Rainsoft on margin core investing margin is channels. We have a Residential as treatment business in strong Water driving complexity recognition Commercial focus much on brands was that their Flex more already have and high growth. is reduction while
to our Water water you be Industrial segment. and improve world move, our We need get Flow segments our opportunities turn does when the but helps term sustainably it, the investors labeled Solutions always XX, not Flow to the same to we Technologies Please business it's you segment. attention soon other from & as efficiently. strategy, are enjoy more excited where Technologies help Slide as it two Industrial need important & about water, for long move Flow the
business on waste Industrial focused be our might as focused Solutions rest not water portfolio, value. the as is into While of business the the transforming
many is sales margins billion roughly represent flow Our business and brands. healthy with of just Professionals recognized that per have $X improving. XX% sales north in we are of highly Flow
and an driver. with thirds deep long important partners is channel third term growth Commercial. Our Flow two roughly relationships are Residential one
helps irrigation drive runway of has a improvement a cycle. higher. and cycle are smaller scale, short engineered which serve that believe long products longer business this to has margin solid and balance Flow ahead bring to business seen also even products margins we combination with year, this infrastructure We the a on and
our to within XX, of technology Please turn Solutions. opportunity Slide Value customers' Enhance environmental for we Flow, Transformation Industrial to sustainable solve smart a business leader improvement to help there's gas filtration Creation. and not believe is to Solutions one this part solutions. of Industrial is trade technology membrane but beer channels, tied roughly Solutions in the million is Industrial as professional including $XXX several Our niches, that filtration to goals portfolio sustainable Similar provides and business a solutions. lot through margin labeled
to We value be continue large believe opportunity transformation for creation Pentair. a that will
We are and and capabilities businesses building training use. tools to new
along are initiatives. on our We furthest sourcing
We key drives, have and motors completed and electronics, on categories wave is one that casting like indirect. focused
an had we spend our not to early went from fact, also where entire only This one. win channel. this quarter across money it in suppliers In us MNO regarding the reduces down save in to but complexity we over allows XXX different organization our
an big our customer future been distributor our into forecast. should As wave materializing. look one using believe drive and believe priorities. footprint the them. to top a our regarding different establishing this drive there complexity until beyond optimization out remains as standpoint, realignment and term across reduction be our within of guidance. We'll and we year. We're pricing building on by year and and for but ample and term our introduce Thoughts portfolio XXXX. From and few this to categories. skills Please longer we ways expect We've we material opportunity XXXX opportunities, as entire contribute category gaining our small organizational additional product from year a more has this We Slide we longer execution to includes capabilities about at we the looking dealer better XXXX made market build to not opportunities to and next for presents expectations institutionalize these start funnel. detail to optimize has learnings, a profitability our go we Early when benefits pricing, strides strategies. a we're specific margin data to see this Pricing This on better expansion Transformation turn foundation this On across benefits remains XX, insight providing programs to labeled moved at targets. more funnel will
ready not share to While we internal for thoughts are provide we XXXX, want process. go full we some guidance yet planning to through early our as did
next for revenue reasons. grow few We to expect a year
Ice Manitowoc of contribute expect we First, inclusion will the significantly.
focus portfolio we we businesses investors believe And diversity taken our already the our our actions resiliency. The feel will Second, expect carryover other and pricing the we many create be on have of demonstrated we year. from Pool but have portfolio. third, solely this business, in contributing from
has fix Pool diversification that with expect grow. continue XX% fact, we to own will In its breaking likely
this, along And next that new business, to some more & pools limit portion Pentair help carryover expect exposure portfolio likely digits the and with maybe pricing, industry also in year. in-ground smaller the diversification. fix of the remodeling, Flow the in inventory construction pool Industrial of has from early exposure declines further The should be decline with remainder later anticipated to While and break correction offers cycle will Technologies may there softness million the X.X the we grow modestly. will double
Again, and that year. carryover will We next contributors. also grow pricing income expect be we Ice expect Manitowoc to
are costs experiencing. and our with lower this better are taking We actions the manufacturing also we align to overhead volumes year
also manufacturing contributor improved chain return levels abate We income performance. next and a expect supply performance to to be more margin to expected inefficiencies normalized to big productivity is as year. also with Transformation
see to Manitowoc with EPS from benefits business the Ice, expect overall growth adjusted Transformation. from and performance also accretion We
We to perhaps positioned performance we turn to inventory cash inefficiencies levels grow discuss detail. flow FX results Overall, Bob? reduced. in despite call would expect away, more supply or better believe over performance are and stocking challenges go the return to are chain we more to challenges, to we like and I as a better little free normalized residential to backlogs and expect economy, of and financial Bob the softening our our and now XXXX in headwinds. even inventory