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Nvent Electric Plc (NVT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Nvent Electric Plc

CIK: 1720635 Ticker: NVT
Exhibit 99.1
nventlogorgbf2a081a.jpg

News Release
nVent Announces First Quarter 2021 Financial Results
Quarterly Results Exceeded Previously Issued Guidance Driven by Increasing Demand and Strong Execution

Reported sales of $549 million were up 5%, led by Enclosures up 7%; nVent organic sales up 2%
Reported EPS of $0.39; Adjusted EPS of $0.43, exceeding high end of guidance range
Cash Flows from Operations of $50 million; $40 million of Free Cash Flow, up vs 2020
Raising full-year sales and EPS guidance

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON – April 29, 2021 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the first quarter of 2021 and provided guidance for the second quarter and full-year 2021.

“We are off to a great start and I am very pleased with our first quarter performance. We returned to growth and had strong execution in all segments. Our results exceeded the guidance we provided in February. Margins expanded in each segment and we managed price/cost well," said Beth Wozniak, nVent’s chief executive officer.

"We delivered strong cash flow well ahead of the prior year. Our teams have performed well to meet the increase in customer demand and ensure supply chain resiliency despite external challenges. We are excited about our recent acquisition of Vynckier, which further expands our Enclosures portfolio for Infrastructure growth. I am confident we are well positioned with improving demand trends and the electrification of everything to grow globally with new customers, new products, strategic channel relationships and with our digital investments.”

First quarter sales of $549 million were up 5 percent relative to the first quarter 2020 and increased 2 percent organically, which excludes the impact from currency fluctuations and acquisitions. First quarter 2021 earnings per diluted share (“EPS”) were $0.39, up 255 percent, while on an adjusted basis, the company had EPS of $0.43, up 26 percent. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.

First quarter 2021 operating income was $80 million compared to $60 million in the first quarter of 2020. On an adjusted basis, segment income was $97 million versus $82 million in the first quarter of 2020.

nVent had net cash provided by operating activities of $50 million in the first quarter and free cash flow was $40 million.






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The following information was filed by Nvent Electric Plc (NVT) on Thursday, April 29, 2021 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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Inside Nvent Electric Plc's 10-Q Quarterly Report:

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)
Supplemental Balance Sheet Information
Acquisitions
Acquisitions (Details)
Basis Of Presentation And Responsibility For Interim Financial Statements
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 - 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)
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)
Supplemental Balance Sheet Information (Details)
Supplemental Balance Sheet Information (Tables)
Ticker: NVT
CIK: 1720635
Form Type: 10-Q Quarterly Report
Accession Number: 0001720635-21-000026
Submitted to the SEC: Thu Apr 29 2021 4:35:23 PM EST
Accepted by the SEC: Thu Apr 29 2021
Period: Wednesday, March 31, 2021
Industry: Special Industry Machinery No Metalworking Machinery

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