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Nvent Electric Plc (NVT) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Nvent Electric Plc

CIK: 1720635 Ticker: NVT


 

Exhibit 99.1Exhibit 99.1
nventlogorgbf2a08.jpg

News Release
nVent Reports Second Quarter 2019 Financial Results
2% reported, 3% organic growth in Enclosures and Electrical & Fastening Solutions;
declines in Thermal Management

Reported sales of $540 million were down 1%; Organic sales up 1%
Reported EPS of $0.35; Adjusted EPS of $0.44
Reported return on sales of 16.1% or 19.4% on an adjusted basis
Repurchased approximately $233 million in nVent shares during the first half, representing approximately 5% of shares outstanding

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON, UNITED KINGDOM – August 1, 2019 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the second quarter of 2019 and provided guidance for the third quarter and full-year 2019.
Second quarter sales of $540 million were down 1 percent relative to the second quarter 2018 and grew 1 percent organically, which excludes the impact from currency fluctuations. Second quarter 2019 earnings per diluted share (“EPS”) were $0.35, while on an adjusted basis, the company had EPS of $0.44. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.
Second quarter 2019 operating income was $87 million, up 33 percent from $65 million in the second quarter of 2018. On an adjusted basis, segment income was $105 million, down 2 percent compared to the second quarter of 2018.
Net cash provided by operating activities was $58 million in the first half of 2019 and total free cash flow was $46 million. The company continues to target full-year free cash flow of approximately 100 percent of adjusted net income.
"We delivered another quarter of solid sales growth in both Enclosures and Electrical & Fastening Solutions. Our Thermal Management business was challenged in Commercial and longer cycle Energy. We continue to make progress with our One nVent strategy improving our new product vitality, strengthening our digital capabilities and growing in focused verticals," said Beth Wozniak, nVent's chief executive officer. "We are excited about the pending Eldon acquisition which is a great fit with our Enclosures portfolio and will accelerate our global growth."








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The following information was filed by Nvent Electric Plc (NVT) on Thursday, August 1, 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

Cover Page
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)
Subsequent Events
Subsequent Events (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: 0001720635-19-000029
Submitted to the SEC: Thu Aug 01 2019 4:22:03 PM EST
Accepted by the SEC: Thu Aug 01 2019
Period: Sunday, June 30, 2019
Industry: Special Industry Machinery No Metalworking Machinery

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