Financial Performance - Fourth quarter 2024 sales were $752 million, up 9% compared to Q4 2023, but down 1% organically[5] - Full-year 2024 sales reached $3.0 billion, representing a 13% increase from 2023, with a 2% organic growth[5] - Fourth quarter 2024 adjusted EPS was $0.59, up 7% from $0.55 in the prior year, while reported EPS was $(0.10), down 108%[5] - Full-year 2024 adjusted EPS was $2.49, up 7% from $2.32, while reported EPS decreased by 48% to $1.43[5] - Net sales for Q4 2024 reached $752.2 million, a 8.9% increase from $690.5 million in Q4 2023[26] - Operating income for the twelve months ended December 31, 2024, was $527.1 million, up from $462.7 million in 2023, reflecting a 13.9% increase[26] - Net income from continuing operations for 2024 was $240.8 million, down from $459.7 million in 2023[31] - The diluted earnings per share from continuing operations for 2024 was $1.43, compared to $1.53 in 2023[46] Cash Flow and Assets - The company generated free cash flow of $150 million in Q4 2024 and $427 million for the full year[7] - Cash and cash equivalents decreased to $131.2 million in 2024 from $179.6 million in 2023[29] - Total assets increased to $6,734.9 million in 2024, compared to $6,161.7 million in 2023[29] - Long-term debt rose to $2,117.5 million in 2024 from $1,748.8 million in 2023, indicating increased leverage[29] - Free cash flow for the full year 2023 was $356.7 million, with $427.5 million reported for the twelve months ended December 31, 2024[56] - Total free cash flow for the full year 2023 was $464.6 million, with $562.0 million reported for the twelve months ended December 31, 2024[56] Product Development and Market Strategy - nVent launched approximately 90 new products in 2024, with the Data Solutions business growing approximately 30%[4] - The company is focused on expanding its product portfolio in the infrastructure vertical, particularly in data centers and power utilities[4] - The company plans to continue focusing on organic sales growth and strategic acquisitions to enhance its market position[40] Future Projections - The company expects 2025 reported sales growth of 8% to 10% and organic sales growth of 4% to 6%[15] - Full-year 2025 EPS guidance is projected to be between $2.45 to $2.55 on a GAAP basis and $2.98 to $3.08 on an adjusted basis[15] - The company forecasts adjusted net income from continuing operations of $503 million for the full year 2025, with a first-quarter forecast of $110 million[50] - Diluted earnings per ordinary share from continuing operations for the full year 2025 is projected to be between $2.45 and $2.55, with a first-quarter estimate of $0.52 to $0.54[50] - The company expects organic net sales growth of 7% to 9% for the full year 2025, with a first-quarter forecast of 0% to 2%[55] Segment Performance - In 2024, nVent Electric plc reported total net sales of $3,006.1 million, a 12.6% increase from $2,668.9 million in 2023[35] - The Enclosures segment generated net sales of $1,823.3 million in 2024, up from $1,605.9 million in 2023, reflecting a growth of 13.5%[35] - The Electrical & Fastening Solutions segment achieved net sales of $1,182.8 million in 2024, up from $1,063.0 million in 2023, marking a growth of 11.2%[35] - The company reported a total reportable segment income of $757.6 million for 2024, compared to $677.2 million in 2023, indicating a 11.9% increase[35] - The return on sales for the Enclosures segment was 22.1% in 2024, compared to 21.6% in 2023[35] Operating Metrics - Fourth quarter 2024 operating income was $117 million, flat compared to Q4 2023, while adjusted operating income increased by 12% to $158 million[6] - Adjusted operating income for 2024 was $652.0 million, compared to $566.6 million in 2023, representing a 15.1% increase[46] - The adjusted return on sales for 2024 was 21.7%, an improvement from 21.2% in 2023[46] - The company achieved an adjusted return on sales of 21.2% for the full year 2023, with quarterly figures of 19.1% in Q1, 22.3% in Q2, 22.7% in Q3, and 20.5% in Q4[47]

Core Insights - nVent Electric (NVT) is expected to report quarterly earnings of $0.59 per share, reflecting a decline of 24.4% year-over-year [1] - Revenue forecasts stand at $770.43 million, indicating a decrease of 10.5% compared to the previous year [1] - Analysts have revised the consensus EPS estimate down by 0.3% over the last 30 days, suggesting a reevaluation of initial estimates [1][2] Revenue Estimates - Analysts project 'Net Sales- Enclosures' to be $490.40 million, representing a year-over-year increase of 21.9% [4] - 'Net Sales- Electrical & Fastening Solutions' is estimated at $293.72 million, indicating a growth of 1.9% from the prior year [4] - 'Net Sales- Thermal Management' is expected to reach $179.87 million, suggesting a year-over-year increase of 5.4% [5] Stock Performance - nVent shares have decreased by 7.9% over the past month, contrasting with the Zacks S&P 500 composite's increase of 2.7% [6] - The company holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market in the near term [6]

Core Points - Northern Venture Trust PLC, along with Northern 2 VCT PLC and Northern 3 VCT PLC, has published a prospectus for new ordinary shares subscription in the 2024/25 tax year, aiming to raise a total of £36 million [1] - The subscription offers will open on 14 January 2025 and will be available on a first-come, first-served basis, with existing shareholders receiving a 0.5% reduction in offer costs [2] - Mercia Fund Management Limited will receive a fee of 2.5% of gross proceeds for subscriptions received directly or through a financial adviser, and 5% for those through execution-only platforms, with discounts for existing shareholders [3] Offer Details - The total amount targeted for the Offers is £36 million, with £15 million for Northern Venture Trust PLC and Northern 2 VCT PLC each, and £6 million for Northern 3 VCT PLC [1] - The Offers will remain open until 31 March 2025, unless fully subscribed earlier, and the Directors reserve the right to close the Offers at any time [2] - A downloadable version of the Prospectus is available on Mercia's website and at the Company's registered office [4] Related Party Transactions - The fee structure for Mercia includes a 2.5% fee for direct subscriptions and a 5% fee for execution-only platform subscriptions, with a 0.5% discount for existing shareholders [3] - The arrangements with Mercia constitute a relevant related party transaction under UK Listing Rules, and the board believes the transaction is fair and reasonable for shareholders [3]

Financial Performance - Net sales for the three months ended September 30, 2024, were $782.0 million, a 9.4% increase from $715.0 million in the same period of 2023[127]. - Gross profit for the same period was $311.1 million, representing a 7.6% increase from $289.1 million year-over-year[127]. - Operating income for the three months ended September 30, 2024, was $133.2 million, a 5.5% increase from $126.2 million in the prior year[127]. - Net sales for the nine months ended September 30, 2024, increased by 13.9% to $2,253.9 million compared to $1,978.4 million in the same period of 2023[129]. - Gross profit for the nine months ended September 30, 2024, was $909.6 million, reflecting a 13.9% increase from $798.7 million in 2023, with a gross profit margin of 40.4%[129]. - Operating income rose by 18.8% to $410.0 million for the nine months ended September 30, 2024, compared to $345.2 million in 2023, representing 18.2% of net sales[129]. - Net income from continuing operations for the nine months ended September 30, 2024, was $257.3 million, a 4.0% increase from $247.3 million in 2023[129]. Segment Performance - For the first nine months of 2024, the Enclosures segment represented approximately 60% of total revenues, while the Electrical & Fastening Solutions segment accounted for about 40%[117]. - The Electrical & Fastening Solutions segment reported a 15.7% increase in net sales for the nine months ended September 30, 2024, reaching $896.1 million, up from $774.7 million in 2023[143]. - The Enclosures segment achieved net sales of $1,357.8 million for the nine months ended September 30, 2024, a 12.8% increase from $1,203.7 million in 2023[139]. - Electrical & Fastening Solutions net sales increased by 15.7% to $136.3 million due to the ECM Industries acquisition, despite organic sales declines of approximately 2.0% in the commercial & residential business[144][146]. - Segment income for Electrical & Fastening Solutions decreased by 1.9 percentage points in Q3 2024 and 1.5 percentage points in the first nine months of 2024 compared to 2023, primarily due to unfavorable product mix and inflationary increases[146]. Acquisitions and Divestitures - The company completed the acquisition of ECM Industries for approximately $1.1 billion in cash on May 18, 2023[118]. - On July 16, 2024, the company acquired Trachte, LLC for approximately $691.3 million in cash[121]. - The company entered into an agreement to sell its Thermal Management business for a purchase price of $1.7 billion in cash, expected to close by early 2025[122]. - The company experienced a 10.5% contribution to net sales from acquisitions for the nine months ended September 30, 2024[131]. Cash Flow and Financing - Net cash provided by operating activities from continuing operations was $324.1 million in the first nine months of 2024, up from $232.5 million in the same period of 2023[149][150]. - Net cash used for investing activities was $724.7 million in the first nine months of 2024, primarily for the Trachte acquisition of $677.7 million[151]. - Net cash provided by financing activities was $278.1 million in the first nine months of 2024, mainly from long-term debt receipts of $500.0 million[153]. - Free cash flow from continuing operations was $277.1 million for the first nine months of 2024, compared to $187.7 million in the same period of 2023[174]. - Dividends paid during the first nine months of 2024 totaled $95.3 million, or $0.57 per ordinary share, an increase from $87.6 million, or $0.525 per share, in 2023[170]. - As of September 30, 2024, the company had $137.1 million in cash, with $34.7 million held in countries with limited repatriation ability[147]. - The company repurchased 1.5 million ordinary shares for $100.0 million under the 2024 Authorization during the first nine months of 2024[169]. - The company maintained compliance with all financial covenants in its debt agreements as of September 30, 2024[166]. Tax and Inflation - The effective tax rate increased to 22.3% in 2024 from 17.6% in 2023, reflecting changes in tax law[127]. - The effective tax rate increased by 5.4 percentage points to 22.1% for the nine months ended September 30, 2024, primarily due to the enactment of the Pillar II global minimum tax framework[135]. - The company expects continued inflationary cost increases to impact results in the remainder of 2024[123]. Research and Development - Research and development expenses increased by 21.6% to $48.9 million for the nine months ended September 30, 2024, compared to $40.2 million in 2023[129]. Accounting and Market Risk - There have been no material changes to critical accounting policies and estimates from the 2023 Annual Report[176]. - No material changes in market risk during the quarter ended September 30, 2024[177].

nVent Electric plc (NYSE:NVT) Q3 2024 Earnings Conference Call November 1, 2024 9:00 AM ET Company Participants Tony Riter - Vice President of Investor Relations Beth Wozniak - Chief Executive Officer Sara Zawoyski - Interim President of Enclosures and Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Jeffrey Sprague - Vertical Research Nigel Coe - Wolfe Research Deane Dray - RBC Capital Markets Joseph Ritchie - Goldman Sachs Vladimir Bystricky - Citigroup Nicole DeBlase - Deut ...

For the quarter ended September 2024, nVent Electric (NVT) reported revenue of $782 million, down 8.9% over the same period last year. EPS came in at $0.84, compared to $0.84 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $935.89 million, representing a surprise of -16.44%. The company delivered an EPS surprise of +3.70%, with the consensus EPS estimate being $0.81.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

Core Insights - NVent Electric (NVT) reported quarterly earnings of $0.84 per share, exceeding the Zacks Consensus Estimate of $0.81 per share, and matching the earnings from the previous year [1] - The company experienced an earnings surprise of 3.70%, having previously reported earnings of $0.82 per share against an expectation of $0.83 per share, resulting in a surprise of -1.20% [2] - NVent's revenues for the quarter were $782 million, falling short of the Zacks Consensus Estimate by 16.44%, and down from $858.8 million year-over-year [3] Financial Performance - The company has surpassed consensus EPS estimates three times over the last four quarters [2] - NVent shares have increased approximately 26.2% year-to-date, outperforming the S&P 500's gain of 19.6% [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.85 on revenues of $965.89 million, and for the current fiscal year, it is $3.26 on revenues of $3.66 billion [8] - The estimate revisions trend for NVent is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [7] Industry Context - The Electronics - Miscellaneous Components industry, to which NVent belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9] - Another company in the same industry, Fabrinet (FN), is expected to report quarterly earnings of $2.39 per share, reflecting a year-over-year increase of 19.5%, with revenues anticipated to be $770.28 million, up 12.4% from the previous year [10][11]

Exhibit 99.1 News Release nVent Announces Third Quarter 2024 Financial Results Record sales and strong cash flow • Thermal Management business reported as discontinued operations for current and all prior periods • Reported sales from continuing operations of $782 million up 9%, organically up 1% ◦ Total sales of $939 million, up 9% • Reported EPS from continuing operations of $0.47; Adjusted EPS from continuing operations of $0.63 ◦ Total EPS of $0.62; Total Adjusted EPS of $0.84 • Cash Flows from continui ...

Wall Street analysts forecast that nVent Electric (NVT) will report quarterly earnings of $0.81 per share in its upcoming release, pointing to a year-over-year decline of 3.6%. It is anticipated that revenues will amount to $935.89 million, exhibiting an increase of 9% compared to the year-ago quarter. The consensus EPS estimate for the quarter has undergone a downward revision of 0.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassess ...

The market expects nVent Electric (NVT) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they ...