What Pentair plc told the SEC could break it.

Pentair's water/pool equipment relies on steel, aluminum and copper; inflationary raw-material costs and tariffs on these metals pressured 2025 segment income.

“imposition of or significant increases in tariffs on goods, including those imported into the U.S., particularly tariffs on steel, aluminum and copper and products manufactured in Mexico, China and the European Union, or other countries where we purchase, have operations or manufacture or sell products;”

One customer in the Pool business represented ~18% of consolidated net sales in 2025 (up from 15%); loss, cancellation, reduction or delay with this largest customer would harm Pentair's business.

“Our net sales to our largest customer represented approximately 18% of our consolidated net sales in 2025. While we do not have any other customers that accounted for more than 10% of our consolidated net sales in 2025, we have other customers that are key to the success of our business.”

Tariffs (incl. on metals and Mexico/China/EU goods) raised costs in 2025; a Supreme Court ruling struck certain IEEPA tariffs (refund uncertain) and the USMCA is due for 2026 review, leaving Pentair's cross-border supply chain exposed to further trade actions.

“Supreme Court struck down certain tariffs imposed under the International Emergency Powers Act. It is unclear at this time what impact this decision will have on our future financial results, including whether we will be able to obtain refunds of amounts previously collected for such tariffs or the level of replacement tariffs the current U.S. Administration imposes through other means.”