Exhibit 99.1

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.


The following information was filed by Nvent Electric Plc (NVT) on Friday, October 30, 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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