nVent raises 2026 adjusted EPS outlook to $5.36–$5.39
nVent lifted 2026 adjusted diluted EPS guidance to $5.36–$5.39, alongside higher full-year sales-growth ranges.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
nVent Electric plc reported third-quarter 2026 net sales of $1.5149 billion, up 44% year over year, and diluted EPS of $1.23, up 68%. Adjusted diluted EPS was $1.52, up 67%; operating income was $282.3 million, up 70%.
Net cash from continuing-operations operating activities was $303.2 million, versus $271.7 million; free cash flow was $267.9 million, versus $253.2 million. Systems Protection sales rose 53% to $1.098 billion, while Electrical Connections sales rose 23% to $416.9 million; its adjusted return on sales was 28.2%, down 180 basis points.
nVent raised full-year 2026 reported sales-growth guidance to 48%–49% and organic sales-growth guidance to 38%–39%; diluted EPS guidance is $4.54–$4.57 GAAP and $5.36–$5.39 adjusted. Q4 estimates are 45%–48% reported sales growth, 26%–29% organic sales growth, $1.13–$1.16 GAAP diluted EPS and $1.30–$1.33 adjusted diluted EPS. The Maverick Power acquisition closed October 1, 2026, adding a power distribution platform and broadening data center exposure. A $0.21-per-share dividend is payable November 6, 2026.
4 points · 1 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.Full-year adjusted EPS guidance rose to $5.36–$5.39 from $5.00–$5.10.
- Moderate pointQ3 net sales increased 44% to $1.5149 billion.
- Moderate pointQ3 operating income increased 70% to $282.3 million.
- Moderate pointQ3 operating cash flow rose 12% to $303.2 million.
Negative
- None.
Filing Explained
The filing adds a balance-sheet view: at
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Q3 net sales: $1.5149 billion
Q3 operating income: $282.3 million
Q3 diluted EPS: $1.23 per share
+4 more
7 metrics
Q3 net sales
$1.5149 billion
Three months ended September 30, 2026; up 44% year over year
Q3 operating income
$282.3 million
Three months ended September 30, 2026; up 70% year over year
Q3 diluted EPS
$1.23 per share
Continuing operations; up 68% year over year
Q3 adjusted diluted EPS
$1.52 per share
Continuing operations; up 67% year over year
Q3 net cash from continuing-operations operating activities
$303.2 million
Three months ended September 30, 2026; up 12% year over year
Q3 free cash flow
$267.9 million
Three months ended September 30, 2026; versus $253.2 million a year earlier
Full-year adjusted diluted EPS guidance
$5.36 to $5.39 per share
2026 guidance; prior range was $5.00 to $5.10
Key Terms
organic sales, adjusted diluted earnings per share, free cash flow, adjusted return on sales
4 terms
organic sales financial
"organic sales grew 44 percent, which excludes the impact from acquisitions and currency fluctuations"
Organic sales are the change in a company’s revenue that comes from its existing business operations, excluding effects of acquisitions, divestitures, and currency swings. Think of it like measuring how much a garden grows from the plants you already tended, rather than adding new pots; investors use organic sales to judge whether demand and core business performance are genuinely improving or if growth is driven by one‑time deals or accounting shifts.
free cash flow financial
"Free cash flow was $268 million in the third quarter"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
adjusted return on sales financial
"Adjusted return on sales (non-GAAP measure)"
Earnings Snapshot
Net sales: $1.5149 billion · Guidance included
Third quarter 2026
Net sales
$1.5149 billion
Up 44% year over year
Operating income
$282.3 million
Up 70% year over year
Diluted EPS
$1.23 per share
Up 68% year over year
Adjusted diluted EPS
$1.52 per share
Up 67% year over year
Net cash from continuing-operations operating activities
$303.2 million
Up 12% year over year
Free cash flow
$267.9 million
Up 6% year over year
Guidance
For full-year 2026, reported sales growth of 48% to 49%, organic sales growth of 38% to 39%, GAAP diluted EPS of $4.54 to $4.57 and adjusted diluted EPS of $5.36 to $5.39; for Q4 2026, reported sales growth of 45% to 48%, organic sales growth of 26% to 29%, GAAP diluted EPS of $1.13 to $1.16 and adjusted diluted EPS of $1.30 to $1.33.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did NVT perform in Q3 2026?
nVent reported $1.5149 billion in net sales, up 44% year over year, and diluted EPS of $1.23, up 68%. Adjusted diluted EPS was $1.52, up 67%.
What is NVT's updated 2026 guidance?
nVent expects full-year reported sales growth of 48% to 49% and organic sales growth of 38% to 39%. Its full-year diluted EPS ranges are $4.54 to $4.57 on a GAAP basis and $5.36 to $5.39 adjusted.
When will nVent pay its dividend?
The $0.21-per-share cash dividend is payable November 6, 2026. The Board of Directors approved the regular dividend, which nVent previously announced on September 21, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 30, 2026
`(Exact name of Registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices)
Registrant's telephone number, including area code: 44 -20 -3966-0279
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol (s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
ITEM 2.02 Results of Operations and Financial Condition
On October 30, 2026 , nVent Electric plc (the "Company") issued a press release announcing earnings results for the third quarter of 2026 and a conference call in connection therewith. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits
| (a) | Financial Statements of Businesses Acquired | |||||||
Not applicable. | ||||||||
| (b) | Pro Forma Financial Information | |||||||
Not applicable. | ||||||||
| (c) | Shell Company Transactions | |||||||
Not applicable. | ||||||||
| (d) | Exhibits | |||||||
EXHIBIT INDEX
| Exhibit | Description | |||||||
99.1 | nVent Electric plc press release dated | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on October 30, 2026 .
| nVent Electric plc | ||||||||
| Registrant | ||||||||
| By | /s/ Gary L. Corona | |||||||
| Gary L. Corona | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||
Exhibit 99.1
News Release
nVent Delivers Record Sales and Orders in Q3 2026
Broad-based double-digit sales growth across all verticals and geographies
•Reported sales of $1.5 billion, both reported and organic sales up 44%
•Reported EPS of $1.23 up 68%; Adjusted EPS of $1.52 up 67%
•Cash Flows of $303 million up 12%; Free Cash Flow of $268 million up 6%
•Raising full-year sales and EPS guidance:
◦Reported sales growth of 48% to 49%; Organic sales growth of 38% to 39%
◦Reported EPS of $4.54 to $4.57; Adjusted EPS of $5.36 to $5.39
Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables. All results referenced throughout this release are on a continuing operations basis unless otherwise stated.
LONDON, UNITED KINGDOM – October 30, 2026 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced strong financial results for the third quarter of 2026, provided fourth quarter guidance and raised full-year 2026 guidance.
"We had another strong quarter, with record sales and orders. We saw double digit sales growth in all verticals, led by infrastructure," said Beth Wozniak, nVent chair and chief executive officer. "New products contributed approximately 30 points to sales growth. We also closed on the Maverick Power acquisition on October 1st, broadening our data center exposure by adding a new power distribution platform. Our record year-to-date performance has us on track for another outstanding year. I want to thank our nVent team for focusing on our customers and achieving record performance levels."
Reported sales in the third quarter totaled $1.5 billion. This performance represents an increase of 44 percent. Organically, sales grew 44 percent, which excludes the impact from acquisitions and currency fluctuations.
Third quarter 2026 earnings per diluted share (“EPS”) were $1.23, up 68 percent, while on an adjusted basis, the company had EPS of $1.52, up 67 percent. Adjusted EPS, adjusted operating income, adjusted net income and free cash flow are non-GAAP financial measures described in the attached Non-GAAP Financial Measures section of this press release.
Third quarter 2026 operating income was $282 million, up 70 percent, compared to $166 million in the third quarter of 2025. Adjusted operating income was $335 million, up 57 percent, compared to $213 million in the third quarter of 2025.
nVent had net cash provided by operating activities of $303 million in the third quarter compared to $272 million in the third quarter of 2025. Free cash flow was $268 million in the third quarter compared to $253 million in the third quarter of 2025.
(more)
2
THIRD QUARTER PERFORMANCE ($ in millions)(1)
| nVent Electric plc | |||||||||||
| Three months ended | |||||||||||
| September 30, 2026 | September 30, 2025 | % / point change | |||||||||
| Net Sales | $1,515 | $1,054 | 44% | ||||||||
| Organic | 44% | ||||||||||
| Operating Income | $282 | $166 | 70% | ||||||||
| Reported ROS | 18.6% | 15.8% | 280 bps | ||||||||
| Adjusted Operating Income | $335 | $213 | 57% | ||||||||
| Adjusted ROS | 22.1% | 20.2% | 190 bps | ||||||||
| Systems Protection | |||||||||||
| Three months ended | |||||||||||
| September 30, 2026 | September 30, 2025 | % / point change | |||||||||
| Net Sales | $1,098 | $716 | 53% | ||||||||
| Organic | 54% | ||||||||||
| Adjusted ROS | 23.0% | 20.4% | 260 bps | ||||||||
| Electrical Connections | |||||||||||
| Three months ended | |||||||||||
| September 30, 2026 | September 30, 2025 | % / point change | |||||||||
| Net Sales | $417 | $338 | 23% | ||||||||
| Organic | 23% | ||||||||||
| Adjusted ROS | 28.2% | 30.0% | -180 bps | ||||||||
(1) Certain figures presented in the tables are rounded.
(more)
3
GUIDANCE FOR FULL-YEAR AND FOURTH QUARTER 2026
The company now estimates reported sales growth for full-year 2026 of 48 to 49 percent versus prior guidance of 37 to 39 percent. This new guidance range reflects 38 to 39 percent organic sales growth versus prior guidance of 32 to 34 percent. The company now expects full-year 2026 EPS of $4.54 to $4.57 on a GAAP basis and adjusted EPS of $5.36 to $5.39, versus prior guidance of $4.29 to $4.39 on a GAAP basis and adjusted EPS of $5.00 to $5.10.
The company estimates fourth quarter 2026 reported sales growth of 45 to 48 percent and organic sales growth of 26 to 29 percent. The company estimates fourth quarter 2026 EPS on a GAAP basis of $1.13 to $1.16 and adjusted EPS of $1.30 to $1.33.
DIVIDENDS
nVent previously announced on September 21, 2026 that its Board of Directors approved a regular cash dividend of $0.21 per share, payable during the fourth quarter on November 6, 2026.
EARNINGS CONFERENCE CALL
nVent’s management team will discuss the company’s third quarter performance on a conference call with analysts and investors at 9:00 a.m. ET today. A live audio webcast of the conference call and materials will be available through the “Investor Relations” section of the company’s website (http://investors.nvent.com). To participate, please dial 1-833-630-1071 or 1-412-317-1832 approximately ten minutes before the 9:00 a.m. ET start. A replay of the conference call will be made accessible once it becomes available and will remain accessible through November 13, 2026 by dialing 1-855-669-9658 or 1-412-317-0088, along with the access code 6922418.
About nVent
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of systems protection and electrical connections solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE.
nVent, CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE are trademarks owned or licensed by nVent Services GmbH or its affiliates.
(more)
4
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “could,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these factors are adverse effects on our business operations or financial results, including the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the Maverick Power acquisition; competition and pricing pressures in the markets we serve; the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses; risks associated with or arising from military conflicts; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.
Investor Contact
Tony Riter
Vice President, Investor Relations
nVent
763.204.7750
Tony.Riter@nVent.com
Media Contact
Kevin H. King
Vice President, Global Communications
nVent
763.291.0526
Kevin.King@nVent.com
(more)
5
| nVent Electric plc | |||||||||||||||||
| Condensed Consolidated Statements of Income (Unaudited) | |||||||||||||||||
| Three months ended | Nine months ended | ||||||||||||||||
| In millions, except per share data | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||
| Net sales | $ | 1,514.9 | $ | 1,054.0 | $ | 4,228.2 | $ | 2,826.4 | |||||||||
| Cost of goods sold | 972.0 | 659.3 | 2,681.7 | 1,746.2 | |||||||||||||
| Gross profit | 542.9 | 394.7 | 1,546.5 | 1,080.2 | |||||||||||||
| % of net sales | 35.8 | % | 37.4 | % | 36.6 | % | 38.2 | % | |||||||||
| Selling, general and administrative | 236.3 | 207.8 | 696.3 | 570.0 | |||||||||||||
| % of net sales | 15.6 | % | 19.7 | % | 16.5 | % | 20.2 | % | |||||||||
| Research and development | 24.3 | 20.6 | 71.5 | 57.2 | |||||||||||||
| % of net sales | 1.6 | % | 2.0 | % | 1.7 | % | 2.0 | % | |||||||||
| Operating income | 282.3 | 166.3 | 778.7 | 453.0 | |||||||||||||
| % of net sales | 18.6 | % | 15.8 | % | 18.4 | % | 16.0 | % | |||||||||
| Other expense | |||||||||||||||||
| Net interest expense | 21.0 | 20.9 | 55.9 | 55.9 | |||||||||||||
| Other expense | 1.2 | 1.2 | 3.8 | 3.4 | |||||||||||||
Income before income taxes | 260.1 | 144.2 | 719.0 | 393.7 | |||||||||||||
| Provision for income taxes | 57.7 | 25.2 | 160.4 | 81.0 | |||||||||||||
| Effective tax rate | 22.2 | % | 17.5 | % | 22.3 | % | 20.6 | % | |||||||||
| Net income from continuing operations | 202.4 | 119.0 | 558.6 | 312.7 | |||||||||||||
| Income from discontinued operations, net of tax | — | 2.2 | 2.1 | 278.7 | |||||||||||||
| Net income | $ | 202.4 | $ | 121.2 | $ | 560.7 | $ | 591.4 | |||||||||
| Earnings per ordinary share | |||||||||||||||||
| Basic | |||||||||||||||||
| Continuing operations | $ | 1.25 | $ | 0.74 | $ | 3.45 | $ | 1.92 | |||||||||
| Discontinued operations | — | 0.01 | 0.01 | 1.71 | |||||||||||||
| Basic earnings per ordinary share | $ | 1.25 | $ | 0.75 | $ | 3.46 | $ | 3.63 | |||||||||
| Diluted | |||||||||||||||||
| Continuing operations | $ | 1.23 | $ | 0.73 | $ | 3.41 | $ | 1.90 | |||||||||
| Discontinued operations | — | 0.01 | 0.01 | 1.69 | |||||||||||||
| Diluted earnings per ordinary share | $ | 1.23 | $ | 0.74 | $ | 3.42 | $ | 3.59 | |||||||||
| Weighted average ordinary shares outstanding | |||||||||||||||||
| Basic | 161.7 | 161.2 | 161.7 | 162.7 | |||||||||||||
| Diluted | 164.0 | 163.6 | 164.0 | 164.8 | |||||||||||||
| Cash dividends paid per ordinary share | $ | 0.21 | $ | 0.20 | $ | 0.63 | $ | 0.60 | |||||||||
(more)
6
| nVent Electric plc | ||||||||
| Condensed Consolidated Balance Sheets (Unaudited) | ||||||||
| September 30, 2026 | December 31, 2025 | |||||||
| In millions | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,121.8 | $ | 237.5 | ||||
| Accounts and notes receivable, net | 948.5 | 693.0 | ||||||
| Inventories | 573.8 | 471.9 | ||||||
| Other current assets | 312.4 | 237.2 | ||||||
| Total current assets | 2,956.5 | 1,639.6 | ||||||
| Property, plant and equipment, net | 466.3 | 434.5 | ||||||
| Other assets | ||||||||
| Goodwill | 2,676.1 | 2,678.0 | ||||||
| Intangibles, net | 1,757.1 | 1,876.5 | ||||||
| Other non-current assets | 246.7 | 223.3 | ||||||
| Total other assets | 4,679.9 | 4,777.8 | ||||||
| Total assets | $ | 8,102.7 | $ | 6,851.9 | ||||
| Liabilities and Equity | ||||||||
| Current liabilities | ||||||||
| Current maturities of long-term debt and short-term borrowings | $ | 13.8 | $ | 13.8 | ||||
| Accounts payable | 535.6 | 358.9 | ||||||
| Employee compensation and benefits | 162.6 | 156.6 | ||||||
| Other current liabilities | 522.3 | 474.2 | ||||||
| Total current liabilities | 1,234.3 | 1,003.5 | ||||||
| Other liabilities | ||||||||
| Long-term debt | 2,167.6 | 1,546.0 | ||||||
| Pension and other post-retirement compensation and benefits | 133.3 | 135.6 | ||||||
| Deferred tax liabilities | 231.3 | 232.0 | ||||||
| Other non-current liabilities | 223.7 | 204.6 | ||||||
| Total liabilities | 3,990.2 | 3,121.7 | ||||||
| Equity | 4,112.5 | 3,730.2 | ||||||
| Total liabilities and equity | $ | 8,102.7 | $ | 6,851.9 | ||||
(more)
7
| nVent Electric plc | ||||||||
Condensed Consolidated Statements of Cash Flows (Unaudited) | ||||||||
| Nine months ended | ||||||||
| In millions | September 30, 2026 | September 30, 2025 | ||||||
| Operating activities | ||||||||
| Net income | $ | 560.7 | $ | 591.4 | ||||
| Less: Income from discontinued operations, net of tax | 2.1 | 278.7 | ||||||
| Net income from continuing operations | 558.6 | 312.7 | ||||||
| Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities | ||||||||
| Depreciation | 52.1 | 45.0 | ||||||
| Amortization | 118.5 | 106.0 | ||||||
| Deferred income taxes | 1.8 | (2.5) | ||||||
| Share-based compensation | 30.9 | 30.8 | ||||||
| Amortization of bridge financing debt issuance costs | 6.0 | — | ||||||
| Changes in assets and liabilities, net of effects of business acquisitions | ||||||||
| Accounts and notes receivable | (259.6) | (138.4) | ||||||
| Inventories | (107.7) | (62.8) | ||||||
| Other current assets | (29.9) | 7.0 | ||||||
| Contract assets and liabilities | (83.8) | 30.6 | ||||||
| Accounts payable | 185.0 | 49.2 | ||||||
| Employee compensation and benefits | 7.4 | 27.7 | ||||||
| Other current liabilities | 103.1 | 18.6 | ||||||
| Other non-current assets and liabilities | (0.5) | 2.7 | ||||||
| Net cash provided by (used for) operating activities of continuing operations | 581.9 | 426.6 | ||||||
| Net cash provided by (used for) operating activities of discontinued operations | (10.4) | (163.8) | ||||||
| Net cash provided by (used for) operating activities | 571.5 | 262.8 | ||||||
| Investing activities | ||||||||
| Capital expenditures | (94.6) | (56.6) | ||||||
| Proceeds from sale of property and equipment | 1.7 | 1.7 | ||||||
| Acquisitions, net of cash acquired | — | (974.9) | ||||||
| Net cash provided by (used for) investing activities of continuing operations | (92.9) | (1,029.8) | ||||||
| Net cash provided by (used for) investing activities of discontinued operations | 1.7 | 1,584.5 | ||||||
| Net cash provided by (used for) investing activities | (91.2) | 554.7 | ||||||
| Financing activities | ||||||||
| Net receipts of revolving credit facility | — | 30.4 | ||||||
| Proceeds from long-term debt | 800.0 | 275.0 | ||||||
| Repayments of long-term debt | (171.9) | (869.7) | ||||||
| Debt issuance costs | (14.0) | (1.9) | ||||||
| Dividends paid | (102.2) | (98.0) | ||||||
| Shares issued to employees, net of shares withheld | (8.5) | 7.7 | ||||||
| Repurchases of ordinary shares | (100.2) | (253.1) | ||||||
| Net cash provided by (used for) financing activities | 403.2 | (909.6) | ||||||
| Effect of exchange rate changes on cash and cash equivalents | 0.8 | 29.1 | ||||||
| Change in cash and cash equivalents | 884.3 | (63.0) | ||||||
| Cash and cash equivalents, beginning of period | 237.5 | 131.2 | ||||||
| Cash and cash equivalents within assets held for sale, beginning of period | — | 58.7 | ||||||
| Less: Cash and cash equivalents within assets held for sale, end of period | — | — | ||||||
| Cash and cash equivalents, end of period | $ | 1,121.8 | $ | 126.9 | ||||
(more)
8
| nVent Electric plc | ||||||||||||||
| Supplemental Financial Information by Reportable Segment (Unaudited) | ||||||||||||||
| 2026 | ||||||||||||||
| In millions | First Quarter | Second Quarter | Third Quarter | Nine Months | ||||||||||
| Net sales | ||||||||||||||
| Systems Protection | $ | 894.8 | $ | 1,072.1 | $ | 1,098.0 | $ | 3,064.9 | ||||||
| Electrical Connections | 347.2 | 399.2 | 416.9 | 1,163.3 | ||||||||||
| Total | $ | 1,242.0 | $ | 1,471.3 | $ | 1,514.9 | $ | 4,228.2 | ||||||
| Reportable segment income | ||||||||||||||
| Systems Protection | $ | 203.1 | $ | 248.2 | $ | 253.1 | $ | 704.4 | ||||||
| Electrical Connections | 84.8 | 108.8 | 117.6 | 311.2 | ||||||||||
| Reportable segment income | 287.9 | 357.0 | 370.7 | 1,015.6 | ||||||||||
| Enterprise and other | (39.4) | (34.3) | (35.3) | (109.0) | ||||||||||
| Adjusted operating income | $ | 248.5 | $ | 322.7 | $ | 335.4 | $ | 906.6 | ||||||
| Return on sales | ||||||||||||||
| Systems Protection | 22.7 | % | 23.2 | % | 23.1 | % | 23.0 | % | ||||||
| Electrical Connections | 24.4 | % | 27.3 | % | 28.2 | % | 26.8 | % | ||||||
| Adjusted return on sales | 20.0 | % | 21.9 | % | 22.1 | % | 21.4 | % | ||||||
| nVent Electric plc | ||||||||||||||
| Supplemental Financial Information by Reportable Segment (Unaudited) | ||||||||||||||
| 2025 | ||||||||||||||
| In millions | First Quarter | Second Quarter | Third Quarter | Nine Months | ||||||||||
| Net sales | ||||||||||||||
| Systems Protection | $ | 508.2 | $ | 632.0 | $ | 715.6 | $ | 1,855.8 | ||||||
| Electrical Connections | 301.1 | 331.1 | 338.4 | 970.6 | ||||||||||
| Total | $ | 809.3 | $ | 963.1 | $ | 1,054.0 | $ | 2,826.4 | ||||||
| Reportable segment income | ||||||||||||||
| Systems Protection | $ | 104.2 | $ | 137.1 | $ | 146.2 | $ | 387.5 | ||||||
| Electrical Connections | 85.1 | 94.9 | 101.6 | 281.6 | ||||||||||
| Reportable segment income | 189.3 | 232.0 | 247.8 | 669.1 | ||||||||||
| Enterprise and other | (27.1) | (32.0) | (34.5) | (93.6) | ||||||||||
| Adjusted operating income | $ | 162.2 | $ | 200.0 | $ | 213.3 | $ | 575.5 | ||||||
| Return on sales | ||||||||||||||
| Systems Protection | 20.5 | % | 21.7 | % | 20.4 | % | 20.9 | % | ||||||
| Electrical Connections | 28.3 | % | 28.7 | % | 30.0 | % | 29.0 | % | ||||||
| Adjusted return on sales | 20.0 | % | 20.8 | % | 20.2 | % | 20.4 | % | ||||||
(more)
9
NON-GAAP FINANCIAL MEASURES
This press release refers to certain non-GAAP financial measures (organic sales, adjusted operating income, adjusted return on sales, adjusted net income, adjusted diluted earnings per share and free cash flow) and a reconciliation of those non-GAAP financial measures to the corresponding financial measures contained in the Company's financial statements prepared in accordance with generally accepted accounting principles. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.
As a result of the previously announced agreement to sell the Thermal Management business, the Company is reporting the results of that business as discontinued operations and has reclassified all prior periods presented. Results referenced herein reflect continuing operations.
The 2026 and 2025 adjusted operating income, adjusted return on sales, adjusted net income and adjusted diluted earnings per share eliminate, where applicable:
•Expense related to certain targeted restructuring activities.
•Expense related to certain acquisition and integration activities associated with our business acquisitions, and transaction costs associated with our business divestiture.
•Reimbursements of tariffs previously remitted under the International Emergency Economic Powers Act ("IEEPA tariffs")
•Amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization, associated with those acquisitions. The Company excludes these non-cash expenses because the Company believes it (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of the Company's results with the results of other companies as the amortization expense, inventory step-up amortization, and acquisition related expenses may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although the Company excludes amortization of these acquired intangible assets and inventory step-up from its non-GAAP results, the Company believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted results.
•Amortization of bridge financing debt issuance costs.
•Pension and other postretirement mark-to-market loss (gain). The Company recognizes changes in the fair value of plan assets and net actuarial gains or losses for pension and other post-retirement benefits as a mark-to-market adjustment. Net actuarial gains and losses occur when the actual experience differs from any of the various assumptions used to value the Company's pension and other post-retirement plans or when assumptions change. This accounting method also results in the potential for volatile and difficult to forecast mark-to-market adjustments. The Company believes that the exclusion of pension and other postretirement mark-to-market loss (gain) better reflects the ongoing costs of providing pension and postretirement benefits to its employees.
•Income tax effects of the above adjustments, which are calculated using the Company's estimated non-GAAP tax rate. This non-GAAP tax approach eliminates the effects of period specific items, which can vary in size and frequency and do not necessarily reflect our long-term operations. The non-GAAP tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in the Company's geographic earnings mix including due to acquisition activity or other changes in our strategy or business operations.
The Company uses the term "organic sales" to refer to GAAP net sales excluding 1) the impact of currency translation and 2) the impact of revenue from acquired businesses recorded prior to the first anniversary of the acquisition less the amount of sales attributable to divested product lines not considered discontinued operations ("acquisition sales"). The portion of GAAP net sales attributable to currency translation is calculated as the difference between (a) the period-to-period change in net sales (excluding acquisition sales) and (b) the period-to-period change in net sales (excluding acquisition sales) after applying prior period foreign exchange rates to the current year period. The Company uses the term "organic sales growth" to refer to the measure of comparing current period organic net sales with the corresponding period of the prior year.
Management utilizes these adjusted financial measures to assess the run-rate of its continuing operations against those of prior periods without the distortion of these factors that the Company does not consider components of our core operating performance. The Company believes that these non-GAAP financial measures will be useful to investors as well to assess the continuing strength of the Company's underlying operations. In addition, adjusted diluted earnings per share is used as a criterion to measure and pay long-term incentive compensation and adjusted operating income is used as a criterion to measure and pay annual incentive compensation.
The Company uses free cash flow to assess its cash flow performance. The Company believes free cash flow is an important measure of liquidity because it provides the Company and its investors useful information regarding the Company's ability to generate cash without reliance on external financing. Management uses free cash flow to evaluate the resources available to pay dividends, make acquisitions, repay debt, repurchase shares and make investments in the business. In addition, free cash flow is used as criterion to measure and pay annual incentive compensation.
(more)
10
| nVent Electric plc | ||||||||||||||||||||
Reconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ending December 31, 2026 | ||||||||||||||||||||
| excluding the effect of adjustments (Unaudited) | ||||||||||||||||||||
| Actual | Forecast (1) | |||||||||||||||||||
| In millions, except per share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year | |||||||||||||||
| Net sales | $ | 1,242.0 | $ | 1,471.3 | $ | 1,514.9 | ||||||||||||||
| Operating income | 195.7 | 300.7 | 282.3 | |||||||||||||||||
| Return on sales | 15.8 | % | 20.4 | % | 18.6 | % | ||||||||||||||
| Adjustments: | ||||||||||||||||||||
| Restructuring and other | 8.9 | 2.0 | 3.1 | |||||||||||||||||
| Acquisition transaction and integration costs | 2.8 | 4.7 | 10.1 | |||||||||||||||||
| Intangible amortization | 41.1 | 41.1 | 36.3 | |||||||||||||||||
| IEEPA tariffs | — | (25.8) | 3.6 | |||||||||||||||||
| Adjusted operating income (non-GAAP measure) | $ | 248.5 | $ | 322.7 | $ | 335.4 | ||||||||||||||
| Adjusted return on sales (non-GAAP measure) | 20.0 | % | 21.9 | % | 22.1 | % | ||||||||||||||
| Net income from continuing operations | $ | 140.4 | $ | 215.8 | $ | 202.4 | $ | 188 | $ | 747 | ||||||||||
| Adjustments to operating income | 52.8 | 22.0 | 53.1 | 36 | 164 | |||||||||||||||
| Amortization of bridge financing debt issuance costs | — | — | 6.0 | — | 6 | |||||||||||||||
| Income tax adjustments | (14.0) | (0.6) | (12.5) | (8) | (35) | |||||||||||||||
| Adjusted net income from continuing operations (non-GAAP measure) | $ | 179.2 | $ | 237.2 | $ | 249.0 | $ | 216 | $ | 882 | ||||||||||
| Earnings per ordinary share - diluted | ||||||||||||||||||||
| Diluted earnings per ordinary share from continuing operations | $ | 0.86 | $ | 1.32 | $ | 1.23 | $1.13 - $1.16 | $4.54 - $4.57 | ||||||||||||
| Adjustments | 0.23 | 0.13 | 0.29 | 0.17 | 0.82 | |||||||||||||||
| Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure) | $ | 1.09 | $ | 1.45 | $ | 1.52 | $1.30 - $1.33 | $5.36 - $5.39 | ||||||||||||
(1) Forecast information represents an approximation | ||||||||||||||||||||
(more)
11
| nVent Electric plc | |||||||||||||||||
Reconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ended December 31, 2025 | |||||||||||||||||
| excluding the effect of adjustments (Unaudited) | |||||||||||||||||
| In millions, except per-share data | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year | ||||||||||||
| Net sales | $ | 809.3 | $ | 963.1 | $ | 1,054.0 | $ | 1,066.7 | $ | 3,893.1 | |||||||
| Operating income | 130.0 | 156.7 | 166.3 | 163.8 | 616.8 | ||||||||||||
| Return on sales | 16.1 | % | 16.3 | % | 15.8 | % | 15.4 | % | 15.8 | % | |||||||
| Adjustments: | |||||||||||||||||
| Restructuring and other | 0.9 | 3.1 | 2.7 | 0.8 | 7.5 | ||||||||||||
| Acquisition transaction and integration costs | 3.1 | 4.3 | 2.4 | 4.6 | 14.4 | ||||||||||||
| Intangible amortization | 28.2 | 35.9 | 41.9 | 41.1 | 147.1 | ||||||||||||
| Adjusted operating income (non-GAAP measure) | $ | 162.2 | $ | 200.0 | $ | 213.3 | $ | 210.3 | $ | 785.8 | |||||||
| Adjusted return on sales (non-GAAP measure) | 20.0 | % | 20.8 | % | 20.2 | % | 19.7 | % | 20.2 | % | |||||||
| Net income from continuing operations | $ | 87.0 | $ | 106.7 | $ | 119.0 | $ | 115.8 | $ | 428.5 | |||||||
| Adjustments to operating income | 32.2 | 43.3 | 47.0 | 46.5 | 169.0 | ||||||||||||
| Pension and post-retirement mark-to-market gain | — | — | — | (12.9) | (12.9) | ||||||||||||
| Income tax adjustments | (7.1) | (9.4) | (16.8) | (1.3) | (33.8) | ||||||||||||
| Adjusted net income from continuing operations (non-GAAP measure) | $ | 112.1 | $ | 140.6 | $ | 149.2 | $ | 148.1 | $ | 550.8 | |||||||
| Earnings per ordinary share - diluted | |||||||||||||||||
| Diluted earnings per ordinary share from continuing operations | $ | 0.52 | $ | 0.65 | $ | 0.73 | $ | 0.71 | $ | 2.60 | |||||||
| Adjustments | 0.15 | 0.21 | 0.18 | 0.19 | 0.75 | ||||||||||||
| Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure) | $ | 0.67 | $ | 0.86 | $ | 0.91 | $ | 0.90 | $ | 3.35 | |||||||
(more)
12
| nVent Electric plc | ||||||||||||||
| Reconciliation of Net Sales Growth (GAAP measure) to Organic Net Sales Growth (non-GAAP measure) by Segment | ||||||||||||||
for the quarter ended September 30, 2026 (Unaudited) | ||||||||||||||
Q3 Net Sales Growth | ||||||||||||||
| Organic | Currency | Acq./Div. | Total | |||||||||||
| nVent | 43.9 | % | (0.2) | % | — | % | 43.7 | % | ||||||
| Systems Protection | 53.7 | % | (0.3) | % | — | % | 53.4 | % | ||||||
| Electrical Connections | 23.2 | % | — | % | — | % | 23.2 | % | ||||||
| Reconciliation of Net Sales Growth (GAAP measure) to Organic Net Sales Growth (non-GAAP measure) | |||||||||||||||||||||||||||||
for the quarter and year ending December 31, 2026 (Unaudited) | |||||||||||||||||||||||||||||
Forecast (1) | |||||||||||||||||||||||||||||
| Q4 Net Sales Growth | Full Year Net Sales Growth | ||||||||||||||||||||||||||||
| Organic | Currency | Acq./Div. | Total | Organic | Currency | Acq./Div. | Total | ||||||||||||||||||||||
| nVent | 26 - 29% | —% | 19% | 45 - 48% | 38 - 39% | —% | 10% | 48 - 49% | |||||||||||||||||||||
(1) Forecast information represents an approximation | |||||||||||||||||||||||||||||
| nVent Electric plc | |||||||||||||||||
Reconciliation of cash from operating activities to free cash flow (Unaudited) | |||||||||||||||||
| Three months ended | Nine months ended | ||||||||||||||||
| In millions | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||
| Net cash provided by (used for) operating activities of continuing operations | $ | 303.2 | $ | 271.7 | $ | 581.9 | $ | 426.6 | |||||||||
| Capital expenditures | (37.0) | (18.6) | (94.6) | (56.6) | |||||||||||||
| Proceeds from sale of property and equipment | 1.7 | 0.1 | 1.7 | 1.7 | |||||||||||||
| Free cash flow (non-GAAP measure) | $ | 267.9 | $ | 253.2 | $ | 489.0 | $ | 371.7 | |||||||||