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Nvent Electric Plc (NVT) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Nvent Electric Plc

CIK: 1720635 Ticker: NVT


 

Exhibit 99.1
nventlogorgbf2a04.jpg

News Release
nVent Reports First Quarter 2019 Financial Results
Steady Progress on Growth Strategy

Reported sales of $538 million were flat; Organic sales up 3%
Reported EPS of $0.32; Adjusted EPS of $0.39
Reported return on sales of 14.4% or 17.9% on an adjusted basis
Repurchased approximately $110 million in nVent shares year-to-date

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON, UNITED KINGDOM – April 25, 2019 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the first quarter of 2019 and provided guidance for the second quarter and full-year 2019.
First quarter sales of $538 million were flat relative to the first quarter 2018 and grew 3 percent organically, which excludes the impact from currency fluctuations. First quarter 2019 earnings per diluted share (“EPS”) were $0.32, while on an adjusted basis, the company had EPS of $0.39. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.
First quarter 2019 operating income was $78 million, up from $66 million and up 18 percent from the same quarter in 2018. On an adjusted basis, segment income was $96 million, up 3 percent compared to the first quarter of 2018. Segment income excluding corporate and other costs was up 5 percent compared to the first quarter of 2018.
First quarter net cash used for operating activities was $13 million and total free cash flow usage was $16 million. The company continues to target full-year free cash flow of approximately 100 percent of adjusted net income.
"We are off to a good start in 2019, growing in all three segments. We're making steady progress on our goals including solid margin expansion in our Enclosures segment," said Beth Wozniak, nVent's chief executive officer. "Our first quarter performance puts us on track to deliver on our 2019 commitments."












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The following information was filed by Nvent Electric Plc (NVT) on Thursday, April 25, 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-Q Quarterly 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-Q Quarterly Report

Document And Entity Information
Condensed Consolidated And Combined Statements Of Cash Flows (Unaudited)
Condensed Consolidated And Combined Statements Of Changes In Equity (Unaudited)
Condensed Consolidated And Combined Statements Of Income And Comprehensive Income (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Basis Of Presentation And Responsibility For Interim Financial Statements
Basis Of Presentation And Responsibility For Interim Financial Statements (Policies)
Basis Of Presentation And Responsibility For Interim Financial Statements (Tables)
Basis Of Presentation And Responsibility For Interim Financial Statements - Adoption Of New Accounting Standard (Details)
Basis Of Presentation And Responsibility For Interim Financial Statements - Cost Allocations (Details)
Basis Of Presentation And Responsibility For Interim Financial Statements - Schedule Of Cumulative Effect Of Adoption Of Accounting Standard (Details)
Basis Of Presentation And Responsibility For Interim Financial Statements - Separation From Pentair (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Schedule Of Contracutal Debt Maturities (Details)
Debt - Schedule Of Debt (Details)
Debt - Senior Credit Facilities (Details)
Debt - Senior Notes (Details)
Derivatives And Financial Instruments
Derivatives And Financial Instruments (Tables)
Derivatives And Financial Instruments - Additional Information (Details)
Derivatives And Financial Instruments - Assets And Liabilities Measured At Fair Value (Details)
Derivatives And Financial Instruments - Recorded Amounts And Estimated Fair Values (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Schedule Of Earnings Per Share (Details)
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 - Definite-Life Intangible Assets (Details)
Goodwill And Other Identifiable Intangible Assets - Estimated Future Amortization Expense For Identifiable Intangible Assets (Details)
Goodwill And Other Identifiable Intangible Assets - Indefinite-Life Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Future Lease Payments, Topic 842 (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Term And Discount Rate (Details)
Restructuring
Restructuring (Tables)
Restructuring - Accrual Activity (Details)
Restructuring - Costs By Reportable Segment (Details)
Restructuring - Costs Included In Selling, General &Amp; Administrative Expenses (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 (Details)
Segment Information - Reconciliation Of Operating Profit (Losee) From Segments To Consolidated (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (Details)
Supplemental Balance Sheet Information (Tables)

Material Contracts, Statements, Certifications & more

Nvent Electric Plc provided additional information to their SEC Filing as exhibits

Ticker: NVT
CIK: 1720635
Form Type: 10-Q Quarterly Report
Accession Number: 0001720635-19-000019
Submitted to the SEC: Thu Apr 25 2019 4:42:49 PM EST
Accepted by the SEC: Thu Apr 25 2019
Period: Sunday, March 31, 2019
Industry: Special Industry Machinery No Metalworking Machinery

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