Exhibit 99.1
nventlogorgbf2a081.jpg

News Release
nVent Announces Third Quarter 2020 Financial Results
Sales and margin improved sequentially across all three segments

Reported sales of $509 million were down 9%; Organic sales down 14%
Reported EPS of $(0.82), which includes a $212 million non-cash goodwill impairment charge; Adjusted EPS of $0.45
Year-to-date Cash Flows from Operations of $204 million; $180 million of Free Cash Flow, up vs 2019
Continued investments in new products and digital; 33 new product launches year-to-date
Company issues guidance for the remainder of the year

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON, UNITED KINGDOM – October 30, 2020 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the third quarter of 2020 and provided guidance for the fourth quarter and full-year 2020.
“I am pleased with our third quarter results and our strong execution. Across all our segments, we had sequential improvement in sales and margins,” said Beth Wozniak, nVent’s chief executive officer. “We continue to invest in our growth priorities with 33 new products launched this year and our digital transformation is accelerating. We have delivered strong cash flow well ahead of the prior year. I am confident that we can emerge stronger from these challenging times and are building a high performance electrical company at nVent."

Third quarter sales of $509 million were down 9 percent relative to the third quarter 2019 and declined 14 percent organically, which excludes the impact from currency fluctuations and acquisitions. Eldon and WBT contributed approximately $20 million in sales during the third quarter. Third quarter 2020 earnings (loss) per diluted share (“EPS”) were $(0.82), down 334 percent, while on an adjusted basis, the company had EPS of $0.45, down 8 percent. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.
Third quarter results included a $212 million non-cash goodwill impairment charge within the Thermal Management segment due to the prolonged deterioration in macroeconomic and industry conditions, and continued decline in financial performance. As a result, third quarter 2020 operating loss was $142 million compared to operating income of $86 million in the third quarter of 2019. On an adjusted basis, segment income was $101 million versus $115 million in the third quarter of 2019, largely due to the impact of volume declines.

nVent had net cash provided by operating activities of $113 million in the third quarter and free cash flow was $105 million, converting approximately 140 percent of adjusted net income. As of September 30, 2020, nVent continued to have a strong liquidity position with $160 million in cash on hand, $465 million undrawn on its revolving credit facility and a net debt to adjusted EBITDA leverage of 2.3x.



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THIRD QUARTER PERFORMANCE ($ in millions)
nVent Electric plc
Three months ended
September 30, 2020September 30, 2019% / point
change
Net Sales$509$560-9%
Organic-14%
Operating Income (loss)$(142)$86-264%
Reported ROS(27.8)%15.4%
Segment Income$101$115-12%
Adjusted ROS19.8%20.5%-70 bps

Enclosures
Three months ended
September 30, 2020September 30, 2019% / point
change
Net Sales$245$263-7%
Organic-14%
ROS18.0%18.1%-10 bps

Electrical & Fastening Solutions ("EFS")
Three months ended
September 30, 2020September 30, 2019% / point
change
Net Sales$148$150-1%
Organic-5%
ROS27.6%27.6%0 bps

Thermal Management
Three months ended
September 30, 2020September 30, 2019% / point
change
Net Sales$117$148-21%
Organic-22%
ROS21.8%26.1%-430 bps





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GUIDANCE FOR FULL-YEAR AND FOURTH QUARTER 2020
The company estimates reported sales growth for the full-year 2020 of down 10 percent to down 9 percent, which represents a 14 percent to 13 percent organic decline versus the prior year. The company expects full-year 2020 EPS of $(0.25) to $(0.20) on a GAAP basis and adjusted EPS of $1.46 to $1.51.
    
The company estimates reported sales for the fourth quarter of 2020 to be down 12 percent to down 8 percent, which represents down 14 percent to down 10 percent on an organic basis. The company estimates fourth quarter 2020 EPS on a GAAP basis of $0.30 to $0.35 and adjusted EPS of $0.38 to $0.43.

DIVIDENDS
nVent previously announced on September 28, 2020 that its Board of Directors approved a regular cash dividend of $0.175 per share, payable on November 6, 2020.
EARNINGS CONFERENCE CALL
nVent’s management team will discuss the company’s third quarter performance on a conference call with analysts and investors at 9:45 a.m. EDT today. A live audio webcast of the conference call and materials will be available through the “Investor Relations” section of the company’s website (http://investors.nvent.com). To participate, please dial 855-493-3495 or 720-405-2160 along with conference number 4748449 approximately ten minutes before the 9:45 a.m. EDT start. A replay of the conference call will be made accessible once it becomes available and will remain accessible through midnight on December 11, 2020 by dialing 855-859-2056 or 404-537-3406, along with the above conference number.


About nVent
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.













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CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “positioned,” “strategy,” “future,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include adverse effects on our business operations or financial results, including due to the impact of the COVID-19 pandemic and potential impairment of goodwill and trade names; overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions; competition and pricing pressures in the markets we serve, including the impacts of tariffs; the strength of housing and related markets; volatility in currency exchange rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; increased risks associated with operating foreign businesses; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.

Investor Contact
J.C. Weigelt
Vice President, Investor Relations
nVent
763.204.7750
JC.Weigelt@nVent.com

Media Contact
Jill Saletta
Vice President, Communications
nVent
763.203.2880
Jill.Saletta@nVent.com
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nVent Electric plc
Condensed Consolidated Statements of Income (Loss) (Unaudited)
Three months endedNine months ended
In millions, except per-share dataSeptember 30,
2020
September 30,
2019
September 30,
2020
September 30,
2019
Net sales$509.3 $559.8 $1,477.4 $1,637.3 
Cost of goods sold312.5 335.7 925.0 991.1 
Gross profit196.8 224.1 552.4 646.2 
% of net sales38.6 %40.0 %37.4 %39.5 %
Selling, general and administrative107.4 126.2 334.8 359.4 
% of net sales21.1 %22.5 %22.7 %22.0 %
Research and development10.5 11.8 33.1 36.2 
% of net sales2.1 %2.1 %2.2 %2.2 %
Impairment of goodwill and trade names220.5 — 220.5 — 
Operating income (loss)(141.6)86.1 (36.0)250.6 
% of net sales(27.8 %)15.4 %(2.4 %)15.3 %
Net interest expense8.5 11.6 27.8 34.0 
Other expense0.7 0.9 2.2 2.8 
Income (loss) before income taxes (150.8)73.6 (66.0)213.8 
Provision (benefit) for income taxes(12.1)13.7 28.3 36.6 
Effective tax rate8.0 %18.6 %(42.9 %)17.1 %
Net income (loss)$(138.7)$59.9 $(94.3)$177.2 
Earnings (loss) per ordinary share
Basic$(0.82)$0.35 $(0.56)$1.03 
Diluted$(0.82)$0.35 $(0.56)$1.02 
Weighted average ordinary shares outstanding
Basic170.0 169.1 169.9 172.3 
Diluted170.0 170.3 169.9 173.8 
Cash dividends paid per ordinary share$0.175 $0.175 $0.525 $0.525 

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nVent Electric plc
Condensed Consolidated Balance Sheets (Unaudited)
 September 30,
2020
December 31,
2019
In millions
Assets
Current assets
Cash and cash equivalents$159.8 $106.4 
Accounts and notes receivable, net327.4 334.3 
Inventories238.9 244.7 
Other current assets89.9 113.3 
Total current assets816.0 798.7 
Property, plant and equipment, net278.1 284.5 
Other assets
Goodwill2,090.7 2,279.1 
Intangibles, net1,117.6 1,160.5 
Other non-current assets108.2 117.5 
Total other assets3,316.5 3,557.1 
Total assets$4,410.6 $4,640.3 
Liabilities and Equity
Current liabilities
Current maturities of long-term debt and short-term borrowings$20.0 $17.5 
Accounts payable139.1 187.1 
Employee compensation and benefits68.8 71.9 
Other current liabilities182.0 185.7 
Total current liabilities409.9 462.2 
Other liabilities
Long-term debt1,032.8 1,047.1 
Pension and other post-retirement compensation and benefits220.0 207.2 
Deferred tax liabilities234.7 237.8 
Other non-current liabilities99.8 93.5 
Total liabilities1,997.2 2,047.8 
Equity2,413.4 2,592.5 
Total liabilities and equity$4,410.6 $4,640.3 

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nVent Electric plc
Condensed Consolidated Statements of Cash Flows (Unaudited)
 Nine months ended
In millionsSeptember 30,
2020
September 30,
2019
Operating activities
Net income (loss)$(94.3)$177.2 
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities
Depreciation28.8 26.1 
Amortization48.1 45.6 
Deferred income taxes6.2 (1.9)
Share-based compensation10.0 12.4 
Impairment of goodwill and trade names220.5 — 
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable7.8 (17.2)
Inventories9.3 (18.4)
Other current assets22.2 — 
Accounts payable(46.1)(53.6)
Employee compensation and benefits(3.5)(7.7)
Other current liabilities(3.4)(1.9)
Other non-current assets and liabilities(1.9)(3.1)
Net cash provided by (used for) operating activities203.7 157.5 
Investing activities
Capital expenditures(25.4)(29.0)
Proceeds from sale of property and equipment1.5 6.1 
Acquisitions, net of cash acquired(27.0)(127.8)
Net cash provided by (used for) investing activities(50.9)(150.7)
Financing activities
Net receipts of revolving long-term debt— 216.5 
Repayments of long-term debt(12.5)(9.7)
Dividends paid(89.2)(91.1)
Shares issued to employees, net of shares withheld4.7 5.3 
Repurchases of ordinary shares(3.2)(235.7)
Net cash provided by (used for) financing activities(100.2)(114.7)
Effect of exchange rate changes on cash and cash equivalents0.8 (1.6)
Change in cash and cash equivalents53.4 (109.5)
Cash and cash equivalents, beginning of period106.4 159.0 
Cash and cash equivalents, end of period$159.8 $49.5 

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nVent Electric plc
Supplemental Financial Information by Reportable Segment (Unaudited)
2020
In millionsFirst
Quarter
Second
Quarter
Third
Quarter
Nine
Months
Net sales
Enclosures$258.5 $219.3 $244.7 $722.5 
Electrical & Fastening Solutions141.9 132.1 147.7 421.7 
Thermal Management120.5 95.8 116.9 333.2 
Total$520.9 $447.2 $509.3 $1,477.4 
Segment income (loss)
Enclosures$40.9 $28.2 $44.0 $113.1 
Electrical & Fastening Solutions33.5 34.7 40.7 108.9 
Thermal Management20.3 14.4 25.5 60.2 
Other(13.2)(9.0)(9.3)(31.5)
Total$81.5 $68.3 $100.9 $250.7 
Return on sales
Enclosures15.8 %12.9 %18.0 %15.7 %
Electrical & Fastening Solutions23.6 %26.3 %27.6 %25.8 %
Thermal Management16.8 %15.0 %21.8 %18.1 %
Total15.6 %15.3 %19.8 %17.0 %

2019
In millionsFirst
Quarter
Second
Quarter
Third
Quarter
Nine
Months
Net sales
Enclosures$255.5 $260.0 $262.6 $778.1 
Electrical & Fastening Solutions137.4 150.7 149.6 437.7 
Thermal Management145.1 128.8 147.6 421.5 
Total$538.0 $539.5 $559.8 $1,637.3 
Segment income (loss)
Enclosures$45.6 $48.2 $47.6 $141.4 
Electrical & Fastening Solutions31.2 41.6 41.3 114.1 
Thermal Management34.3 25.3 38.5 98.1 
Other(14.9)(10.3)(12.8)(38.0)
Total$96.2 $104.8 $114.6 $315.6 
Return on sales
Enclosures17.8 %18.5 %18.1 %18.2 %
Electrical & Fastening Solutions22.7 %27.6 %27.6 %26.1 %
Thermal Management23.6 %19.6 %26.1 %23.3 %
Total17.9 %19.4 %20.5 %19.3 %



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nVent Electric plc
Reconciliation of GAAP to non-GAAP financial measures for the year ended December 31, 2020
excluding the effect of adjustments (Unaudited)
Actual
Forecast (1)
In millions, except per-share dataFirst
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales$520.9 $447.2 $509.3 
Net income (loss)18.6 25.8 (138.7)
Provision (benefit) for income taxes31.0 9.4 (12.1)
Income (loss) before income taxes49.6 35.2 (150.8)
Other expense0.8 0.7 0.7 
Net interest expense9.9 9.4 8.5 
Operating income (loss)60.3 45.3 (141.6)
% of net sales11.6 %10.1 %(27.8 %)
Adjustments:
Restructuring and other4.3 6.2 5.4 
 Acquisition transaction and integration costs 0.9 0.8 0.5 
Intangible amortization16.0 16.0 16.1 
Impairment of goodwill— — 212.3 
Impairment of trade names— — 8.2 
Segment income$81.5 $68.3 $100.9 
Return on sales15.6 %15.3 %19.8 %
Segment income$81.5 $68.3 $100.9 
Depreciation9.6 9.4 9.8 
Earnings before income tax, depreciation, and amortization - as adjusted$91.1 $77.7 $110.7 
Net income (loss) - as reported$18.6 $25.8 $(138.7)$57 $(38)
Adjustments to operating income (loss)21.2 23.0 242.5 16 303 
Income tax adjustments18.3 0.2 (27.7)(3)(12)
Net income - as adjusted$58.1 $49.0 $76.1 $70 $253 
Diluted earnings (loss) per ordinary share
Diluted earnings (loss) per ordinary share - as reported$0.11 $0.15 $(0.82)$0.30 - $0.35$(0.25) - $(0.20)
Adjustments0.23 0.14 1.27 0.081.71
Diluted earnings per ordinary share - as adjusted$0.34 $0.29 $0.45 $0.38 - $0.43$1.46 - $1.51
(1) Forecast information represents an approximation

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nVent Electric plc
Reconciliation of GAAP to non-GAAP financial measures for the year ended December 31, 2019
excluding the effect of 2019 adjustments (Unaudited)
In millions, except per-share dataFirst
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Net sales$538.0 $539.5 $559.8 $566.7 $2,204.0 
Operating income77.5 87.0 86.1 82.5 333.1 
% of net sales14.4 %16.1 %15.4 %14.6 %15.1 %
Adjustments:
Restructuring and other3.6 2.7 11.2 6.7 24.2 
Acquisition transaction and integration costs
— — 1.9 0.5 2.4 
Intangible amortization
15.1 15.1 15.4 15.8 61.4 
Inventory step-up amortization
— — — 3.2 3.2 
Segment income$96.2 $104.8 $114.6 $108.7 $424.3 
Return on sales17.9 %19.4 %20.5 %19.2 %19.3 %
Net income - as reported
$56.4 $60.9 $59.9 $45.5 $222.7 
Adjustments to operating income18.7 17.8 28.5 26.2 91.2 
Pension and other post-retirement mark-to-market loss— — — 27.3 27.3 
Income tax adjustments(5.6)(3.3)(4.6)(19.3)(32.8)
Net income - as adjusted$69.5 $75.4 $83.8 $79.7 $308.4 
Diluted earnings per ordinary share
Diluted earnings per ordinary share - as reported$0.32 $0.35 $0.35 $0.27 $1.29 
Adjustments0.07 0.09 0.14 0.20 0.49 
Diluted earnings per ordinary share - as adjusted$0.39 $0.44 $0.49 $0.47 $1.78 

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nVent Electric plc
Reconciliation of Net Sales Growth to Organic Net Sales Growth by Segment
for the quarter ended September 30, 2020 (Unaudited)
Q3 Net Sales Growth
OrganicCurrencyAcq./Div.Total
nVent(13.5)%0.9 %3.6 %(9.0)%
Enclosures(14.0)%1.1 %6.1 %(6.8)%
Electrical & Fastening Solutions(4.8)%0.6 %2.9 %(1.3)%
Thermal Management(21.6)%0.8 %— %(20.8)%


Reconciliation of Net Sales Growth to Organic Net Sales Growth
for the quarter and year ended December 31, 2020 (Unaudited)
Forecast (1)
Q4 Net Sales GrowthFull Year Net Sales Growth
OrganicCurrencyAcq./Div.TotalOrganicCurrencyAcq. / Div.Total
nVent(14) - (10)%1 %1 %(12) - (8)%(14) - (13)% %4 %(10) - (9)%
(1) Forecast information represents an approximation




Reconciliation of cash from operating activities to free cash flow (Unaudited)
 Three months endedNine months ended
In millionsSeptember 30,
2020
September 30,
2019
September 30,
2020
September 30,
2019
Net cash provided by (used for) operating activities$113.2 $99.7 $203.7 $157.5 
Capital expenditures(8.2)(11.4)(25.4)(29.0)
Proceeds from sale of property and equipment0.1 — 1.5 6.1 
Free cash flow$105.1 $88.3 $179.8 $134.6 


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