nVent Q1 sales up 8% organically; raises full-year adjusted EPS guidance to $2.65-$2.73

nVent Electric plc

2024-Q1 EPS reported $0.56 revenue$740,600,000

Q1 revenue $741M (+7% reported, +8% organic); adjusted EPS $0.67 (+34% YoY).
Raises FY2023 adjusted EPS guidance to $2.65-$2.73 (from $2.51-$2.61); sales growth raised to 4-6%.
Enclosures sales $391M (+11% organic, ROS 21.1%); Electrical & Fastening $206M (+11% organic, ROS 29.8%).
ECM Industries acquisition expected to close in Q2, accretive to adjusted EPS in 2023.
Operating cash flow $69M; free cash flow $52M; Q2 adjusted EPS guidance $0.66-$0.68.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

nVent Electric plc reported the first quarter of 2023 results: revenue $741 million, EPS $0.56. Guidance raised.

Period: the first quarter of 2023
Revenue: $741 million
EPS: $0.56
Guidance: raised
Result: reported results

Exact text from the filing

nVent Announces First Quarter 2023 Financial Results Continued strong performance; 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

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Source: SEC EDGAR

accession 0001720635-23-000027

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