CFO Resignation, Decline

On July 10, 2026, Pentair plc announced the abrupt resignation of Chief Financial Officer Nicholas Brazis, who had served only four months. Bob Fishman was named interim CFO while a permanent search commenced. That same day the company released preliminary second‑quarter 2026 results. Sales were reported at approximately $930 million, a 17 % decline versus the April 28 guidance of roughly $1.14 billion. The shortfall was attributed to a $170 million inventory correction in the pool channel, which is also expected to reduce FY‑2026 sales by $250 million and pool segment income by $105 million to $155 million. Adjusted operating income for Q2 was projected at about $235 million, with earnings per diluted share from continuing operations of roughly $0.80—down from the prior guidance of $1.39–$1.42. Net income from continuing operations for 2026 is now expected to be around $650 million, adjusted operating income about $980 million, and EBITDA about $1.05 billion. Full‑year 2026 guidance was revised to a sales decline of 4 % to 7 % and operating income down 1 % to 6 %, with adjusted operating income down 5 % to 9 %. Pentair’s Transformation Program, cited by management, aims to cut $250 million in costs through restructuring and other initiatives.