Shares of Pentair PLC (PNR) tumbled 5.11% in pre-market trading on Tuesday after the water treatment and pool equipment company reported second-quarter financial results that fell short of analyst expectations.

The company posted adjusted earnings of $1.11 per share, missing the consensus estimate of $1.22 per share by 9.02%. Revenue came in at $932.6 million, below the $958.064 million that analysts had forecast. Both figures represented significant year-over-year declines, with earnings dropping from $1.39 per share and sales falling from $1.123 billion in the same quarter last year.

Investors reacted negatively to the weaker-than-expected performance, particularly the sharp 42% decline in Pool segment net sales to $247 million, which was attributed to a larger-than-anticipated channel inventory correction and softer market conditions. The disappointing results overshadowed a bright spot in the Flow segment, where net sales rose 5% and segment income climbed 27%.