The company’s revised forecast for 2026 projects a revenue decline of 4% to 7%, a stark reversal from its prior expectation of 2% to 4% growth. This cooling demand follows a fiscal year in which the business recorded $4.18 billion in revenue.

Beyond the financial adjustments, the company confirmed the departure of Chief Financial Officer Nicholas Brazis, who left on July 10 to join a private firm. Bob Fishman has returned to the role on an interim basis. Fishman, who previously served as Pentair’s CFO from 2020 until March of this year, brings extensive experience from his former tenure as CFO and executive vice president at NCR Corporation.