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Jun 30, 2020
nVent Q2 2020 Earnings Report
Announced second quarter 2020 financial results, demonstrating strong free cash flow and managed decrementals better than expected amidst ongoing COVID-19 impacts.
Key Takeaways
nVent Electric plc reported a 17% decrease in sales to $447 million, with a 22% organic decline. EPS was $0.15, and adjusted EPS was $0.29. The company generated $91 million in cash flow from operations and $77 million in free cash flow. Due to continued uncertainties around the ultimate impact of the COVID-19 pandemic, the company is not reinstating full-year guidance at this time.
Reported sales of $447 million were down 17%, with organic sales down 22%.
Reported EPS was $0.15, while adjusted EPS was $0.29.
Cash flows from operations were $91 million, and free cash flow was $77 million, higher than the prior year.
The company expects full-year cost savings of approximately $70 million.
Forward Guidance
The company estimates reported sales for the third quarter of 2020 to be in the range of down 7 to down 17 percent, which represents a 10 to 20 percent decrease on an organic basis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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