Exhibit 99.1
nventlogorgbf2a0811.jpg

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.



(more)

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.

View differences made from one quarter to another to evaluate Nvent Electric Plc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Nvent Electric Plc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account