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Jun 30, 2023
nVent Q2 2023 Earnings Report
Announced record sales and strong EPS, and raised full-year guidance.
Key Takeaways
nVent reported a strong second quarter with record sales of $803 million, a 10% increase year-over-year, and adjusted EPS of $0.77, up 35%. The company raised its full-year reported sales and adjusted EPS guidance due to the strong first half performance and recent acquisitions.
Reported sales of $803 million, up 10%, organically up 4%.
Reported EPS of $0.67, up 40%; Adjusted EPS of $0.77, up 35%.
Cash Flows from Operations of $77 million, up 34%; Free Cash Flow of $62 million, up 29%.
Raising full-year reported sales and adjusted EPS guidance.
Forward Guidance
The company estimates reported sales for the third quarter of 2023 to be up 16% to 18%, which represents an increase of 1% to 3% on an organic basis. The company estimates third quarter 2023 EPS on a GAAP basis of $0.54 to $0.56 and adjusted EPS of $0.72 to $0.74.
Positive Outlook
- Full-year reported sales growth of 13% to 15%
- Organic sales growth of 4% to 6%
- Full-year 2023 EPS of $2.30 to $2.36 on a GAAP basis
- Adjusted EPS of $2.85 to $2.91
- Third quarter 2023 EPS on a GAAP basis of $0.54 to $0.56 and adjusted EPS of $0.72 to $0.74
Historical Earnings Impact
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Avg. Return Before/After Earnings
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