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Nvent Electric Plc (NVT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Nvent Electric Plc

CIK: 1720635 Ticker: NVT
Exhibit 99.1
nventlogorgbf2a08a.jpg

News Release
nVent Announces Second Quarter 2021 Financial Results
Strong execution delivering robust sales growth and margin expansion; raising full-year sales and EPS guidance

Reported sales of $601 million, up 34%; Organically up 29%; All segments exceeded 2019 sales
Reported Return on Sales of 14.7%, up 460bps; Adjusted Return on Sales of 18.3%, up 300bps
Reported EPS of $0.39, up 160%; Adjusted EPS of $0.50, up 72%
Generated Cash Flows from Operations of $93 million; Free Cash Flow of $85 million, up versus 2020
Strengthened growth profile with two bolt-on acquisitions
Raising full-year sales and EPS guidance due to strong second quarter results and improved outlook

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON, UNITED KINGDOM – August 3, 2021 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the second quarter of 2021 and provided guidance for the third quarter and full-year 2021.
“I am extremely pleased with our second quarter results. Sales grew 34%, with all segments above 2019 sales levels, driven by broad-based demand. We delivered robust margin expansion across all segments and strong earnings growth. Our teams did a tremendous job serving increased customer demand while navigating unprecedented supply chain constraints and inflation. We delivered another quarter of strong cash flow, up more than $50 million in the first half of the year. We completed two bolt-on acquisitions in the quarter, extending our presence in high-growth verticals like data centers and networking solutions and infrastructure. I’m also very proud of our recently published Social Responsibility Report, outlining our goals, progress and commitment to living social responsibility every day through our employees, our operations and our communities," said Beth Wozniak, nVent's chief executive officer.

"As we look to the second half of the year, our strong orders and backlog give us confidence in our continued growth. As a result of our first half performance and improved outlook, we are raising our full-year revenue and EPS guidance. The electrification of everything, combined with strong execution of our One nVent strategy, position us well to grow."

Second quarter 2021 sales of $601 million were up 34% relative to second quarter 2020 and increased 29% organically, which excludes the impact from currency fluctuations and acquisitions. Second quarter 2021 earnings per diluted share (“EPS”) were $0.39, up 160%, while on an adjusted basis, the company had EPS of $0.50, up 72%. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.
Second quarter 2021 operating income was $88 million, up 95%, compared to $45 million in the prior year period. On an adjusted basis, segment income was $110 million, up 61%, compared to $68 million in the prior year period.
nVent had net cash provided by operating activities of $93 million in the second quarter, and free cash flow was $85 million.


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The following information was filed by Nvent Electric Plc (NVT) on Tuesday, August 3, 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)

Material Contracts, Statements, Certifications & more

Nvent Electric Plc provided additional information to their SEC Filing as exhibits

Ticker: NVT
CIK: 1720635
Form Type: 10-Q Quarterly Report
Accession Number: 0001720635-21-000046
Submitted to the SEC: Tue Aug 03 2021 4:52:39 PM EST
Accepted by the SEC: Tue Aug 03 2021
Period: Wednesday, June 30, 2021
Industry: Special Industry Machinery No Metalworking Machinery

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