Pentair plc (NYSE: PNR), Manchester, UK, reported third-quarter sales of $1.6 billion, a year-over-year decrease of 12 percent. Profit was $115.2 million, compared to a loss of $186 million the year prior.
Valves & controls sales for the third quarter were $441 million, down 28 percent versus the prior year quarter. Backlog including FX decreased 3 percent to $1.2 billion. Sales in the energy vertical, 60 percent of valves & controls revenue in the quarter, decreased 17 percent. Sales in the industrial vertical, 40 percent of valves & controls revenue, decreased 18 percent.
Flow & filtration solutions third quarter sales were $363 million, down 8 percent versus the prior year quarter, while water quality systems sales were down 1 percent to $322 million.
Technical solutions third quarter sales were $101 million, flat versus the prior year quarter.
For the first nine months of 2015, sales were $4.7 billion, down 10.5 percent from the prior-year period. Profit increased to $376.9 million, compared to $94.1 million the prior year.