nVent Q1 2021 Earnings Report
Key Takeaways
nVent Electric plc announced strong first quarter performance, exceeding guidance with sales of $549 million, up 5% from Q1 2020. The company reported EPS of $0.39 and adjusted EPS of $0.43, with significant margin expansion and strong cash flow. They are raising full-year sales and EPS guidance.
Reported sales of $549 million, up 5%, led by Enclosures up 7%; nVent organic sales up 2%
Reported EPS of $0.39; Adjusted EPS of $0.43, exceeding high end of guidance range
Cash Flows from Operations of $50 million; $40 million of Free Cash Flow, up vs 2020
Raising full-year sales and EPS guidance
nVent
nVent
nVent Revenue by Segment
Forward Guidance
The company now estimates reported sales growth for the full-year 2021 of up 8 to 11 percent and full-year 2021 EPS of $1.39 to $1.47 on a GAAP basis and adjusted EPS of $1.67 to $1.75. The company estimates reported sales for the second quarter of 2021 to be up 18 to 21 percent and second quarter 2021 EPS on a GAAP basis of $0.28 to $0.32 and adjusted EPS of $0.36 to $0.40.
Positive Outlook
- Full-year sales growth of 8-11%
- Organic sales growth of 5-8%
- Full-year EPS of $1.39 to $1.47 (GAAP)
- Full-year adjusted EPS of $1.67 to $1.75
- Second quarter sales growth of 18-21%
Challenges Ahead
- Second quarter EPS of $0.28 to $0.32 (GAAP)
- Second quarter adjusted EPS of $0.36 to $0.40
Revenue & Expenses
Visualization of income flow from segment revenue to net income