Pentair PLC (PNR) saw its stock price plummet 5.18% during intraday trading on Tuesday. The sharp decline comes despite the company reporting better-than-expected first-quarter earnings and revenue.

The water solutions provider reported Q1 adjusted earnings of $1.22 per share, beating analyst estimates of $1.17, while revenue reached $1.04 billion compared to expectations of $1.03 billion. However, investors reacted negatively to the company's updated full-year outlook, which now projects sales growth of 2% to 4%, down from the previous guidance of 3% to 4% growth.

Adding to investor concerns, Pentair announced a leadership change in its Pool segment, with Jerome Pedretti set to leave as EVP and CEO of Pentair Pool effective July 1, 2026. De'Mon Wiggins will take oversight of the Pool segment effective immediately, creating potential uncertainty during the transition period.