Added10-Q 2026-10-27 vs 10-K 2026-02-24
We may not realize the anticipated benefits of the Taco acquisition and any benefit may take longer to realize than we expect.
PNRPentair
At Pentair, we help the world sustainably move, improve and enjoy water, life’s most essential resource. 10-K, Item 1
- Employees
- 9,000
- Headquarters
- London, X0
- CEO
- John Stauch
- Next results
- around Feb 2, 2027
9 paragraphs in Risk Factors of the 10-K filed Feb 24, 2026 with nothing like them in the 10-K filed Feb 25, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 81 Industrials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
Failure to achieve and maintain a high level of product and service quality and on-time delivery could damage our reputation with customers and negatively impact our results.
Product and service quality issues could harm customer confidence in our company and our brands. If certain of our product and service offerings do not meet applicable safety standards or our customers’ expectations regarding quality, safety or performance, we could experience lost sales and increased costs and we could be exposed to legal, financial and reputational risks. In addition, a recall or claim could require us to review some or all of our product portfolio to assess whether similar issues are present in other products, which could result in a significant disruption to our business and our results of operations. We have experienced such quality issues in the past and may experience such issues in the future. We cannot be certain that our quality controls and procedures will reveal defects in our products or their raw materials, which may not become apparent until after the products have been placed in use in the market. Accordingly, there is a risk that products will have defects, which could result in loss of sales or delays in market acceptance and require a product recall or field corrective action. Such remedial actions can be expensive to implement and may damage our reputation and customer relationships. We have conducted product recalls and field corrective actions in the past and may do so again in the future. Our ability to compete and generate sales
depends in part on our capacity to meet customer demand and ensure that products and services are delivered to the customer on time. If we are unable to manufacture and deliver products to customers on time, we could experience lost sales and increased costs and we could be exposed to legal, financial and reputational risks. The inability to deliver our products to customers on time could also restrict our manufacturing capacity, which could lead to the loss of customers and restrict our ability to grow sales. The failure to address any of the above factors could have a material adverse effect on our business, financial condition, results of operations and cash flows.
Similar paragraph at 1 of 81 other Industrials companies: JCIRead in the 10-K ↗
Climate change continues to receive attention worldwide. Many scientists, legislators and others attribute global warming to increased levels of greenhouse gases, which has led to significant legislative and regulatory efforts to limit greenhouse gas emissions. The U.S. Environmental Protection Agency (“EPA”) has published findings that emissions of carbon dioxide,
Read in the 10-K ↗
such cybersecurity incidents could result in litigation, reputational impacts, regulatory action and potential liability and additional costs and operational consequences of implementing further data protection measures. For information on our cybersecurity risk management, strategy and governance, see ITEM 1C.- Cybersecurity.
Similar paragraph at 1 of 81 other Industrials companies: LMTRead in the 10-K ↗
We may use artificial intelligence in our business and in our products, and challenges with properly managing its use could result in reputational harm, competitive harm, and legal liability, and adversely affect our results of operations.
We are incorporating artificial intelligence solutions into our products, services and features, and we are leveraging artificial intelligence, including generative artificial intelligence and machine learning, in our product development, operations and software programming. Our competitors or other third parties may incorporate artificial intelligence into their products or operational processes more quickly or more successfully than us, which could have a material adverse effect on our competitive position, reputation and results of operations. In addition, there are significant risks involved in developing and deploying artificial intelligence and there can be no assurance that the usage of artificial intelligence will enhance our products or services or be beneficial to our business, including our efficiency or profitability. The rapid evolution of artificial intelligence, including the regulation of artificial intelligence by government or other regulatory agencies, will require significant resources to develop, test and maintain our platforms, offerings, services and features to implement artificial intelligence ethically and minimize any unintended harmful impacts.
The use by our employees of artificial intelligence tools or technology can adversely impact our business by posing risks to our confidential or proprietary information and could give rise to legal actions or reputational damage, or otherwise adversely affect our business.
Our workforce may use artificial intelligence tools or technology, which may result in the exposure of our confidential or proprietary information to unauthorized third parties and the misuse of our intellectual property. Use of artificial intelligence tools or technology may also result in claims against us alleging violation of third-party intellectual property rights. Use of artificial intelligence tools or technology may also result in inaccurate results that could cause mistakes in the Company’s decision-making or other business activities, which may have a material adverse impact on our business and results of operations. Further, there is no guarantee that our training and enforcement of procedures governing the use of artificial intelligence will be adequate to safeguard against the unauthorized use of artificial intelligence tools or technology.
Similar paragraph at 1 of 81 other Industrials companies: JRead in the 10-K ↗
New in the latest 10-Q
15 paragraphs in the 10-Q filed Oct 27, 2026 with nothing like them in the 10-Q filed Jul 28, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
On October 1, 2026, as part of our Water Solutions reportable segment, we acquired the issued and outstanding equity securities of Taco Group Holdings (“Taco”) for a purchase price of $ 1.425 billion, subject to customary adjustments. Taco manufactures hydronic and water-driven solutions, providing innovative, sustainable, and high-performance products for the HVAC, plumbing, and industrial sectors. The acquisition of Taco allows us to provide a more comprehensive suite of water solutions and enhanced development capabilities to benefit our customers across commercial, industrial and residential applications. We funded this acquisition through a combination of cash on hand and debt financing. See Note 10 for further discussion of the debt financing completed during the quarter and on the acquisition closing date.
Read in the 10-Q ↗
As of the filing date of this Quarterly Report, the initial accounting and preliminary purchase price allocation for the acquisition is incomplete. We are continuing to evaluate information relating to acquired working capital, tangible and identifiable intangible assets, assumed liabilities, goodwill and income tax matters. As a result, certain disclosures required under accounting standards codification (“ASC”) 805 are not yet available.
Read in the 10-Q ↗
In millions December 31, Reallocation (1) January 1, Foreign Currency September 30,
Read in the 10-Q ↗
(1) Estimated amortization expense does not include the impact of the Taco acquisition on October 1, 2026 as the initial accounting and preliminary purchase price allocation for the acquisition is incomplete.
Read in the 10-Q ↗
On September 1, 2026, the aggregate principal amount of the commitments under the Term Loan Facilities replaced the corresponding amount of the commitments in respect of the Bridge Facility in accordance with the terms of the Commitment Letter. As a result, there were no remaining commitments under the Bridge Facility.
Read in the 10-Q ↗
On October 1, 2026, upon the closing of the Taco acquisition, PFSA borrowed the full $ 1.4 billion aggregate principal amount available under the Term Loan Facilities. The proceeds were utilized to finance a portion of the purchase price in the Taco acquisition and pay related fees and expenses.
Read in the 10-Q ↗
Pentair plc, along with certain current and former executives, was sued by shareholders in a putative securities class action filed in August of 2026 in the U.S. District Court for the District of Minnesota. The lawsuit alleges that defendants made false or misleading statements, and seeks unspecified damages for declines in the value of the Company’s stock. The Company plans to vigorously defend against the claims asserted in this proceeding.
Read in the 10-Q ↗
While we believe that a material impact on our consolidated financial position, results of operations or cash flows from any such future claims or potential claims is unlikely, given the inherent uncertainty of litigation, a remote possibility exists that a future adverse ruling or unfavorable development could result in future charges that could have a material adverse impact. We do and will continue to periodically reexamine our estimates of probable liabilities and any associated expenses and receivables and make appropriate adjustments to such estimates based on experience and developments in litigation and applicable accounting rules. As a result, the current estimates of the potential impact on our consolidated financial position, results of operations and cash flows for the proceedings and claims described in the notes to our condensed consolidated financial statements could change in the future.
Read in the 10-Q ↗
• favorable foreign currency effects compared to the first nine months of the prior year.
Read in the 10-Q ↗
• the amortization of debt issuance costs of $4.9 million during the third quarter and first nine months of 2026 related to financing commitments for a bridge loan facility established in connection with the definitive agreement to purchase Taco.
Read in the 10-Q ↗
• favorable foreign currency effects compared to the first nine months of the prior year.
Read in the 10-Q ↗
• unfavorable foreign currency effects compared to the third quarter of the prior year.
Read in the 10-Q ↗
On September 1, 2026, the aggregate principal amount of the commitments under the Term Loan Facilities replaced the corresponding amount of the commitments in respect of the Bridge Facility in accordance with the terms of the Commitment Letter. As a result, there were no remaining commitments under the Bridge Facility.
Read in the 10-Q ↗
On October 1, 2026, upon the closing of the Taco acquisition, PFSA borrowed the full $1.4 billion aggregate principal amount available under the Term Loan Facilities. The proceeds were utilized to finance a portion of the purchase price in the Taco acquisition and pay related fees and expenses.
Read in the 10-Q ↗
Risk Factors
We are currently, and may in the future become, subject to litigation and other claims. These legal proceedings are typically claims that relate to our products or services or to the conduct of our businesses and include, without limitation, claims relating to commercial, regulatory or contractual disputes with suppliers, shareholders, authorities, customers or parties to acquisitions and divestitures; intellectual property matters; environmental, asbestos, safety and health matters; product quality and liability matters; matters arising from the use or installation of our products; consumer protection matters and employment and labor matters. As described in “Legal proceedings” within Note 16 “Commitments and Contingencies,” of the condensed consolidated financial statements included in Item 1 of Part I of this Form 10-Q, we are also currently subject to a putative securities class action by shareholders. The outcome of such legal proceedings cannot be predicted with certainty, and some may be disposed of unfavorably to us. In addition to insurance costs rising and insurers decreasing coverage, insurance coverage is not available for some of our claims and may be disputed by carriers in others. While we currently maintain what we believe to be suitable product liability insurance, we may not be able to maintain this insurance on our preferred terms or at an acceptable cost. Further, this insurance may not provide adequate protection against potential or previously existing liabilities. In addition, we self-insure a portion of product liability claims and must satisfy deductibles on other insured claims. Some of our business involves the sale of our products to customers that are constructing large and complex systems, facilities or other capital projects, and while we generally try to limit our exposure to liquidated damages, consequential damages and other potential damages in the contracts for these projects, we could be exposed to significant monetary damages and other liabilities in connection with the sale of our products for these projects for a variety of reasons. In addition, some of our businesses, customers, and dealers are subject to various laws and regulations regarding consumer protection and advertising and sales practices, and we have been named, and may be named in the future, as a defendant in litigation, including class action complaints, arising from alleged violation of these laws and regulations. In addition, our indemnification obligations relating to the purchase or sale of businesses could result in litigation or claims of unknown amounts. Successful claims or litigation against us for significant amounts could have a material adverse effect on our reputation, business, financial condition, results of operations and cash flows.
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 27, 2026 against Item 1A of the 10-K filed Feb 24, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
There have been no material changes from the risk factors previously disclosed in Item 1A. of our Annual Report on Form 10-K for the year ended December 31, 2025, except for the additional risk factors set forth below.
Added10-Q 2026-10-27 vs 10-K 2026-02-24
The Taco acquisition will involve the integration of Taco’s operations with our existing operations, and there are uncertainties inherent in such an integration. We will be required to devote significant management attention and resources to integrating Taco’s operations. Delays or unexpected difficulties in the integration process could adversely affect our business, financial results and financial condition. Even if we are able to integrate Taco’s operations successfully, we may not realize the full benefits of revenue synergies, cost savings and operational efficiencies that we expect or the achievement of these benefits within a reasonable period of time or at all.
Added10-Q 2026-10-27 vs 10-K 2026-02-24
We could be subject to new risks, known and unknown, relating to the Taco acquisition.
Added10-Q 2026-10-27 vs 10-K 2026-02-24
We may experience risks, losses and damages associated with the Taco acquisition. The risks we could face include the following:
Added10-Q 2026-10-27 vs 10-K 2026-02-24
• the Taco acquisition may lead to the incurrence of costs to review, upgrade and integrate Taco’s systems with our compliance and reporting systems, including our systems of internal control over financial reporting. The process of integrating Taco into our internal control over financial reporting could require significant time and effort from our management and other personnel and could increase our compliance costs; and
Added10-Q 2026-10-27 vs 10-K 2026-02-24
• the Taco acquisition involves the inherent risk of liabilities, and these liabilities may prove more costly or produce more adverse effects than we anticipate, such as actual or potential litigation and regulatory matters. In addition, in the course of the due diligence review of Taco, we may not have discovered, or may have been unable to quantify, undisclosed liabilities of Taco, and we may not be indemnified or have insurance for any of these liabilities. Any such liabilities could have an adverse effect on our business, results of operations, financial condition and cash flows.
Reworded10-Q 2026-10-27 vs 10-K 2026-02-24
Our ability to generate cash is make payments of principal and interest on our indebtedness depends upon our future performance, which will be subject to general economic conditions and financial, business and other factors affecting our consolidated operations, many of which are beyond our control.
Reworded10-Q 2026-10-27 vs 10-K 2026-02-24
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