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Nvent Electric Plc (NVT) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Nvent Electric Plc

CIK: 1720635 Ticker: NVT


 

Exhibit 99.1
nventlogorgbf2a04.jpg

News Release
nVent Reports Fourth Quarter and Full-Year 2018 Financial Results
Another Strong Quarter Drives Full-Year Sales up 6%
Fourth quarter reported sales of $568 million were up 5%; Organic sales up 6%. Full-year reported sales of $2.2 billion were up 6%; Organic sales up 5%.
Fourth quarter reported EPS of $0.37; Adjusted EPS of $0.45. Full-year reported EPS of $1.28; Adjusted EPS of $1.74.
Full-year net cash provided by operating activities of $344 million; Returned approximately $120 million in cash to shareholders through dividends and share repurchases.

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON, UNITED KINGDOM – January 31, 2019 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the fourth quarter and full-year of 2018 and provided guidance for the first quarter and full-year 2019.
Fourth quarter sales of $568 million grew 5 percent relative to the fourth quarter 2017 and grew 6 percent organically, which excludes the impact from currency fluctuations. Fourth quarter 2018 earnings per diluted share (“EPS”) were $0.37 while on an adjusted basis, the company had EPS of $0.45. Full-year sales of $2.2 billion grew 6 percent relative to full-year 2017 and grew 5 percent organically. Full-year 2018 EPS were $1.28 while on an adjusted basis, the company had EPS of $1.74. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.
Fourth quarter 2018 operating income was $86 million, up from $59 million in the same quarter in 2017. On an adjusted basis, fourth quarter segment income excluding corporate and other costs was $120 million versus $117 million in 2017. Full-year 2018 operating income was $311 million versus $316 million in 2017. On an adjusted basis, segment income excluding corporate and other costs was $474 million, up 5 percent compared to full-year 2017.
Full-year net cash provided by operating activities was $344 million and total pro forma free cash flow was $301 million, which includes $43 million of tax effected separation and related costs. The company delivered full-year free cash flow of 96 percent of adjusted net income.
"Our fourth quarter sales were above the high end of our guidance marking the fourth consecutive quarter of sales acceleration giving us confidence our strategy is working," said Beth Wozniak, nVent's chief executive officer. "I'm very proud of our team for successfully launching nVent as a new public company and achieving 6 percent sales growth. We enter 2019 with momentum to grow and expand margins with our focus on One nVent, key verticals, and new product launches."







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The following information was filed by Nvent Electric Plc (NVT) on Thursday, January 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated And Combined Balance Sheets
Consolidated And Combined Balance Sheets (Parenthetical)
Consolidated And Combined Statements Of Cash Flows
Consolidated And Combined Statements Of Changes In Equity
Consolidated And Combined Statements Of Operations And Comprehensive Income
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Estimated Useful Lives Of Property And Equipment (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies - Property, Plant And Equipment By Region (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Effects Of New Accounting Pronouncements (Details)
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Amounts Recorded In Consolidated Balance Sheets (Detail)
Benefit Plans - Asset Allocation (Detail)
Benefit Plans - Assumptions Used To Determine Benefit Obligations (Detail)
Benefit Plans - Assumptions Used To Determine Net Periodic Benefit Expense (Detail)
Benefit Plans - Assumptions, Discount Rates (Details)
Benefit Plans - Cash Flows (Details)
Benefit Plans - Components Of Net Periodic Benefit Cost (Detail)
Benefit Plans - Estimated Future Benefit Payments (Detail)
Benefit Plans - Fair Value Measurement (Detail)
Benefit Plans - Obligations And Funded Status (Details)
Benefit Plans - Pension And Other Post-Retirement Plans (Details)
Benefit Plans - Pension Plans With Accumulated Benefit Obligation Or Projected Benefit Obligation In Excess Of Plan Assets (Detail)
Benefit Plans - Savings Plan (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Future Minimum Lease Commitments Under Non-Cancelable Operating Leases (Detail)
Commitments And Contingencies - Net Rental Expense Under Operating Leases (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Debt Outstanding Amounts Maturing (Detail)
Debt - Debt Outstanding And Average Interest Rates (Detail)
Derivatives And Financial Instruments
Derivatives And Financial Instruments (Tables)
Derivatives And Financial Instruments - Additional Information (Detail)
Derivatives And Financial Instruments - Assets And Liabilities Measured At Fair Value (Detail)
Derivatives And Financial Instruments - Recorded Amounts And Estimated Fair Values Of Long-Term Debt And Derivative Financial Instruments (Detail)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Goodwill And Other Identifiable Intangible Assets
Goodwill And Other Identifiable Intangible Assets (Tables)
Goodwill And Other Identifiable Intangible Assets - Additional Information (Details)
Goodwill And Other Identifiable Intangible Assets - Changes In Carrying Amount Of Goodwill By Segment (Details)
Goodwill And Other Identifiable Intangible Assets - Estimated Future Amortization Expense For Identifiable Intangible Assets (Details)
Goodwill And Other Identifiable Intangible Assets - Identifiable Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Deferred Taxes (Detail)
Income Taxes - Income (Loss) Before Income Taxes And Noncontrolling Interest (Detail)
Income Taxes - Provision For Income Taxes (Detail)
Income Taxes - Reconciliation Of Federal Statutory Income Tax Rate To Effective Tax Rate (Detail)
Income Taxes - Reconciliations Of Gross Unrecognized Tax Benefits (Detail)
Related Party Transactions And Net Parent Investment
Restructuring
Restructuring (Tables)
Restructuring - Accrual Activity Recorded On Condensed Consolidated Balance Sheets (Detail)
Restructuring - Additional Information (Details)
Restructuring - Costs Included In Selling, General &Amp; Administrative Expenses On Consolidated Statements Of Income (Detail)
Restructuring - Restructuring Costs By Segment (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Geographic Net Sales Information By Segment (Details)
Revenue - Performance Obligations (Details)
Revenue - Schedule Of Contract Assets And Liabilities (Details)
Revenue - Vertical Sales By Segment (Details)
Segment Information
Segment Information (Tables)
Segment Information - Financial Information By Reportable Segment (Detail)
Segment Information - Reconciliation Of Income From Continuing Operations From Segments To Consolidated (Details)
Selected Quarterly Data (Unaudited)
Selected Quarterly Data (Unaudited) (Tables)
Selected Quarterly Data (Unaudited) - Additional Information (Details)
Selected Quarterly Data (Unaudited) - Quarterly Financial Information (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (Detail)
Supplemental Balance Sheet Information (Tables)
Ticker: NVT
CIK: 1720635
Form Type: 10-K Annual Report
Accession Number: 0001720635-19-000008
Submitted to the SEC: Tue Feb 19 2019 4:41:14 PM EST
Accepted by the SEC: Tue Feb 19 2019
Period: Monday, December 31, 2018
Industry: Special Industry Machinery No Metalworking Machinery

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