nVent Electric reports Q2 adjusted EPS 82c, consensus 82c

Reports Q2 revenue $880M, consensus $892.58M. “We had a strong second quarter with record sales, margin expansion and impressive cash flows. We saw strong contribution from new products and growth in all key geographic regions. I’m proud of our team as we continue to focus on our customers and drive improved business performance,” said CEO Beth Wozniak. “Consistent with our ongoing strategy, we continue to transform the nVent portfolio, recently announcing an agreement to sell our Thermal Management business and closing the Trachte acquisition. These transactions represent a significant step to make nVent a more focused, higher growth electrical connection and protection leader well positioned with the electrification, sustainability and digitalization megatrends. As a result of our Q2 performance and closing the Trachte acquisition, we are raising our full-year reported sales guidance and maintaining our organic growth and adjusted EPS mid-point guidance.”