Pentair plc (NYSE:PNR) reported a slight decline in Q1 2024 net sales by 1.11% YoY to $1.02 billion, slightly beating consensus estimates. Despite the revenue dip, gross margin expanded to 38.4%, and adjusted EPS increased to 94 cents, surpassing expectations. The company saw varied performance across its segments, with notable improvements in segment income and return on sales (ROS). CEO John L. Stauch highlighted solid order rates and the success of transformation initiatives aimed at achieving a 24% ROS by fiscal 2026. Pentair provided a positive outlook for Q2 and the full year 2024, expecting sales growth and adjusted EPS above consensus estimates. Shares rose 2.08% to $80.89 following the announcement.