Exhibit 99.1

News Release
nVent Announces Second Quarter 2020 Financial Results

Reported sales of $447 million were down 17%; Organic sales down 22%
Reported EPS of $0.15; Adjusted EPS of $0.29
Cash Flows from Operations of $91 million, $77 million of Free Cash Flow, higher than prior year
Expect full-year cost savings of approximately $70 million

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON, UNITED KINGDOM – July 31, 2020 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today provided a business update in response to the COVID-19 pandemic and announced financial results for the second quarter of 2020.
"As we continue to manage ongoing impacts from COVID-19, we remain focused on three near-term priorities, which are the safety and well-being of our employees, continuing business operations to serve our customers and making nVent stronger, well-positioned to exit this crisis,” said Beth Wozniak, nVent's chief executive officer. “We believe our second quarter performance demonstrated that we executed well during a uniquely challenging time. We delivered strong free cash flow and managed decrementals better than expected. Importantly, we continue to invest for growth, with 24 new products launched in the first half and advancements in our digital transformation. We are confident in the actions we are taking to emerge stronger."

Second quarter sales of $447 million were down 17 percent relative to the second quarter 2019 and declined 22 percent organically, which excludes the impact from currency fluctuations and acquisitions. Eldon and WBT added approximately $30 million in sales during the second quarter. Second quarter 2020 earnings per diluted share (“EPS”) were $0.15, down 57%, while on an adjusted basis, the company had EPS of $0.29, down 34%. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.
Second quarter 2020 operating income was $45 million, down 48 percent from $87 million in the second quarter of 2019. On an adjusted basis, segment income was $68 million, down 35 percent from $105 million in the second quarter of 2019, largely due to the impact of volume declines.
nVent had net cash provided by operating activities of $91 million in the second quarter and free cash flow generated was $77 million, converting 160 percent of adjusted net income. As of June 30, 2020, nVent continued to have a strong liquidity position with $235 million in cash on hand and a net debt to EBITDA leverage ratio of 2.4x. nVent has $315 million undrawn on its revolving credit facility.
Due to continued uncertainties around the ultimate impact of the COVID-19 pandemic, the company is not reinstating full-year guidance at this time. The ultimate magnitude of the COVID-19 pandemic, including the extent of its impact on nVent’s financial and operational results will be determined by a number of factors including the length of time that the pandemic continues, and its effect on the demand for the company’s products. The company estimates reported sales for the third quarter of 2020 to be in the range of down 7 to down 17 percent, which represents a 10 to 20 percent decrease on an organic basis.


The following information was filed by Nvent Electric Plc (NVT) on Friday, July 31, 2020 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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