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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.
nVent
nVent
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.