Pentair Shares Surge 10% on Q1 Beat 
<p><a href='https://financialmodelingprep.com/financial-summary/PNR'>Pentair (NYSE:PNR)</a> shares jumped nearly 10% on Thursday after the company reported its Q1 results, with EPS coming in at $0.91, better than the Street estimate of $0.77. Revenue was $1.03 billion, beating the Street estimate of $998.33 million.</p>
<p>The company raised the low end of its 2023 EPS guidance by $0.10, 2% above the Street estimate. Pool (35% of revenues) still has near-term challenges, with excess channel inventory, tough comps, and tighter credit markets draining some demand for new pools/renovations. </p>
<p>Upside cost savings from transformational initiatives are raising the quality of the earnings as reflected in boosted 2023 segment income/ROS guidance.</p>

NYSE:PNR