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nVent
🇬🇧 NYSE:NVT
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Sep 30, 2024

nVent Q3 2024 Earnings Report

nVent reported record sales and strong cash flow, driven by new products, high-growth verticals, and acquisitions.

Key Takeaways

nVent Electric plc announced strong Q3 2024 financial results, with reported sales from continuing operations up 9% to $782 million and organic sales up 1%. The company updated its full-year 2024 guidance to reflect continuing operations, excluding the Thermal Management business.

Reported sales from continuing operations increased by 9% to $782 million, with organic sales up 1%.

Total sales reached $939 million, also up 9%.

Reported EPS from continuing operations was $0.47, while adjusted EPS from continuing operations was $0.63.

Cash flows from continuing operations increased by 29% to $158 million, and free cash flow from continuing operations rose by 33% to $143 million.

Total Revenue
$782M
Previous year: $859M
-8.9%
EPS
$0.84
Previous year: $0.84
+0.0%
Reported ROS
17%
Previous year: 18.2%
-6.6%
Adjusted ROS
21.5%
Previous year: 23.5%
-8.5%
Gross Profit
$311M
Previous year: $353M
-11.9%
Cash and Equivalents
$137M
Previous year: $113M
+21.0%
Free Cash Flow
$143M
Previous year: $136M
+5.1%
Total Assets
$6.92B
Previous year: $5.93B
+16.7%

nVent

nVent

nVent Revenue by Segment

Forward Guidance

nVent updated its full-year 2024 guidance to reflect continuing operations. The company estimates full-year 2024 EPS of $1.99 to $2.01 on a GAAP basis and adjusted EPS of $2.49 to $2.51. For the fourth quarter 2024, the company estimates reported sales growth of 11 to 13 percent and organic sales growth of 1 to 3 percent, with EPS on a GAAP basis of $0.45 to $0.47 and adjusted EPS of $0.58 to $0.60.

Positive Outlook

  • Full-year 2024 reported sales growth estimated at approximately 13 percent.
  • Full-year 2024 organic sales growth estimated at approximately 3 percent.
  • Full-year 2024 EPS expected to be $1.99 to $2.01 on a GAAP basis.
  • Full-year 2024 adjusted EPS expected to be $2.49 to $2.51.
  • Fourth quarter 2024 reported sales growth estimated at 11 to 13 percent.

Challenges Ahead

  • Fourth quarter 2024 EPS on a GAAP basis estimated at $0.45 to $0.47.
  • Fourth quarter 2024 adjusted EPS estimated at $0.58 to $0.60.
  • The guidance is based on continuing operations, excluding the Thermal Management business.
  • Forward-looking statements are subject to risks, uncertainties, assumptions, and other factors.
  • Actual results could differ materially from those expressed or implied by forward-looking statements.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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