News Release Details

MANCHESTER, United Kingdom - November 6, 2015 - Pentair plc (NYSE: PNR) is hosting its annual Investor and Analyst Day in New York City today where Randall J. Hogan, Pentair chairman and chief executive officer, and other members of Pentair's senior management team will discuss the company's strategies to achieve sustainable, long-term growth.

Pentair is also re-affirming its adjusted fourth quarter 2015 EPS guidance of $1.03 to $1.05, which excludes $0.17 of non-cash intangible amortization, and down 10 to 12 percent versus the same quarter last year's adjusted EPS.    

Further, the company re-affirms its full year 2015 adjusted EPS outlook of a range of $3.84 to $3.86, which excludes approximately $0.50 per share of non-cash intangible amortization.  GAAP EPS guidance for the fourth quarter and full year is $0.52 to $0.54 and $2.64 to $2.66, respectively, which include restructuring expenses, intangible amortization, inventory step-up, and deal related costs.

A live audio webcast of the Investor and Analyst Day event will be available at the company's website at http://www.pentair.com/ from 8:15 a.m. to 12:00 p.m. Eastern Standard Time. Presentation material will accompany the audio webcast and will be made available for viewing at the beginning of the event. The audio webcast of the event and the slide presentations will be available through the same link within approximately 24 hours of the end of the event. The in-person event is by invitation only.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release 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," "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 ability to achieve the benefits of planned cost take-out actions; the ability to successfully identify, complete and integrate acquisitions, including the ability to successfully integrate and achieve the expected benefits of the acquisition of ERICO Global Company; overall global economic and business conditions; competition and pricing pressures in the markets we serve; the strength of housing and related markets; volatility in currency exchange rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; increased risks associated with operating foreign businesses; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the ability to successfully complete the disposition of the remaining portion of the Water Transport business on anticipated terms and timetable; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; 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 U.S. Securities and Exchange Commission, including in our 2014 Annual Report on Form 10-K. All forward-looking statements speak only as of the date of this press release. We assume no obligation, and disclaim any obligation, to update the information contained in this press release. 

ABOUT PENTAIR PLC
Pentair plc (www.pentair.com) delivers industry-leading products, services and solutions for its customers' diverse needs in water and other fluids, thermal management and equipment protection. With 2014 revenues of $7.0 billion, Pentair employs approximately 30,000 people worldwide.

Pentair Contacts:
Investors:
Jim Lucas
Vice President, Investor Relations & Strategic  Planning
Direct:  763-656-5575
Email: jim.lucas@pentair.com
       
Media:
Rebecca Osborn
Senior Manager, External Communications
Direct:  763-656-5589
Email: rebecca.osborn@pentair.com

Pentair plc and Subsidiaries
Reconciliation of the GAAP "As Reported" year ended December 31, 2015 to the "Adjusted" non-GAAP
excluding the effect of 2015 adjustments (Unaudited)
		Actual										Forecast
In millions, except per-share data		First Quarter			Second Quarter			Third Quarter				Fourth Quarter					Full Year
Total Pentair
Net sales		$	1,475.0		$	1,661.2		$	1,552.1			approx	$	1,745			approx	$	6,430
Operating income-as reported		171.2			217.9			180.0				approx	158				approx	726
% of net sales		11.6		%	13.1		%	11.6		%		approx	9.1		%		approx	11.3		%
Adjustments:
Restructuring and other		-			25.5			25.3				approx	54				approx	105
Intangible amortization		27.6			28.0			28.2				approx	39				approx	123
Inventory step-up		-			1.5			1.4				approx	29				approx	32
Deal related costs and expenses		-			-			14.3				approx	-				approx	14
Operating income-as adjusted		198.8			272.9			249.2				approx	280				approx	1,000
% of net sales		13.5		%	16.4		%	16.1		%		approx	16.0		%		approx	15.6		%
Net income from continuing operations-as reported		118.2			153.9			115.2				approx	96				approx	484
Amortization of bridge financing fees		-			-			8.3				approx	-				approx	8
Adjustments, net of tax		21.2			42.4			53.2				approx	94				approx	211
Net income from continuing operations-as adjusted		$	139.4		$	196.3		$	176.7			approx	$	190			approx	$	703
Continuing earnings per ordinary share-diluted
Diluted earnings per ordinary share-as reported		$	0.65		$	0.84		$	0.63			approx	$0.52 - $0.54				approx	$2.64 - $2.66
Adjustments		0.11			0.24			0.34				approx	0.51				approx	1.20
Diluted earnings per ordinary share-as adjusted		$	0.76		$	1.08		$	0.97			approx	$1.03 - $1.05				approx	$3.84 - $3.86

Pentair plc and Subsidiaries
Reconciliation of the GAAP "As Reported" year ended December 31, 2014 to the "Adjusted" non-GAAP
excluding the effect of 2014 adjustments (Unaudited)
In millions, except per-share data	First Quarter			Second Quarter			Third Quarter			Fourth Quarter				Full Year
Total Pentair
Net sales	$	1,644.0		$	1,834.1		$	1,758.4		$	1,802.5			$	7,039.0
Operating income-as reported	182.1			226.4			267.4			176.0				851.9
% of net sales	11.1		%	12.3		%	15.2		%	9.8		%		12.1		%
Adjustments:
Restructuring and other	17.0			44.1			-			48.5				109.6
Intangible amortization	28.5			29.0			28.4			28.1				114.0
Pension and other post-retirement mark-to-market loss	-			-			-			49.9				49.9
Redomicile related expenses	1.5			8.8			-			-				10.3
Operating income-as adjusted	229.1			308.3			295.8			302.5				1,135.7
% of net sales	13.9		%	16.8		%	16.8		%	16.8		%		16.1		%
Net income from continuing operations-as reported	125.5			159.2			192.5			129.8				607.0
Adjustments, net of tax	38.1			63.5			21.5			87.6				210.7
Net income from continuing operations-as adjusted	$	163.6		$	222.7		$	214.0		$	217.4			$	817.7
Continuing earnings per ordinary share-diluted
Diluted earnings per ordinary share-as reported	$	0.63		$	0.81		$	1.00		$	0.70			$	3.14
Adjustments	0.19			0.32			0.11			0.47				1.09
Diluted earnings per ordinary share-as adjusted	$	0.82		$	1.13		$	1.11		$	1.17			$	4.23