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Mar 31, 2023
nVent Q1 2023 Earnings Report
Announced first quarter 2023 financial results with continued strong performance and raised full-year guidance.
Key Takeaways
nVent had a strong start to the year with impressive margin expansion and robust cash flow. The company saw growth in all verticals and new products continued to be a strong contributor. Based on the strength of the business in the first quarter, the company is raising full-year guidance.
Reported sales of $741 million, up 7%; Organically up 8%
Reported EPS of $0.56, up 40%; Adjusted EPS of $0.67, up 34%
Cash Flows from Operations of $69 million; Free Cash Flow of $52 million
Raising full-year sales and EPS guidance
Forward Guidance
The company now estimates reported sales growth for the full-year 2023 of up 4% to 6% versus prior guidance of 3% to 5%. The organic sales growth guidance range of 4% to 6% is unchanged. The company now expects full-year 2023 EPS of $2.27 to $2.35 on a GAAP basis and adjusted EPS of $2.65 to $2.73 versus prior guidance of $2.16 to $2.26 on a GAAP basis and adjusted EPS of $2.51 to $2.61.
Positive Outlook
- Reported sales growth of 4% to 6% expected for full year 2023
- Organic sales growth of 4% to 6% expected for full year 2023
- Full-year 2023 EPS of $2.27 to $2.35 expected on a GAAP basis
- Adjusted EPS of $2.65 to $2.73 expected for full-year 2023
- Reported and organic sales for the second quarter of 2023 to be up 3% to 5%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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