Last10K.com

Nvent Electric Plc (NVT) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

NVT Quarterly Reports

Nvent Electric Plc

CIK: 1720635 Ticker: NVT
Exhibit 99.1
nventlogorgbf2a08.jpg

News Release
nVent Announces First Quarter 2022 Financial Results
Strong demand and execution continued; raising full-year sales and adjusted EPS guidance
Reported sales of $695 million, up 27%; Organic sales up 24%
Reported EPS of $0.40, up 3%; Adjusted EPS of $0.50, up 16%
Generated Cash Flows from Operations of $7 million; Free Cash Flow usage of $3 million, in line with expectations
Raising full-year sales and adjusted EPS guidance due to strong first quarter
Reported and organic sales growth of 11% to 13%
Reported EPS of $1.78 to $1.86; Adjusted EPS of $2.14 to $2.22

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.
LONDON – April 29, 2022 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the first quarter of 2022 and provided guidance for the second quarter and full-year 2022.

“We had a strong start to the year, with another quarter of tremendous growth and execution. The continued dedication and adaptability of our global team helped us deliver for our customers in a challenging environment. Our record first quarter sales grew 27 percent, with broad-based sales and order growth across all segments,” said nVent Chief Executive Officer Beth Wozniak.

“As the electrification of everything continues to drive demand for our products and solutions, we are well-positioned for continued growth across the verticals we serve, like Data Solutions, Industrial Automation, Power Utilities, Renewables and Smart Buildings. Based on the strength of the business in the first quarter, we are raising our full-year sales and adjusted EPS guidance. The future is bright at nVent.”

First quarter sales of $695 million were up 27 percent relative to the first quarter 2021 and increased 24 percent organically, which excludes the impact from currency fluctuations and acquisitions. First quarter 2022 earnings per diluted share (“EPS”) were $0.40, up 3 percent, while on an adjusted basis, the company had EPS of $0.50, up 16 percent. Segment income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.

First quarter 2022 operating income was $90 million compared to $80 million in the first quarter of 2021. On an adjusted basis, segment income was $110 million versus $97 million in the first quarter of 2021.

nVent had net cash provided by operating activities of $7 million in the first quarter and free cash flow usage was $3 million.





(more)

The following information was filed by Nvent Electric Plc (NVT) on Friday, April 29, 2022 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

Assess how Nvent Electric Plc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Nvent Electric Plc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Other
Filter Subcategory:
All
Debt
Product
Expense
Cash Flow
Shares
Dividend
Income
Geography
Earnings
Other
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 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)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
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: 0001720635-22-000018
Submitted to the SEC: Fri Apr 29 2022 4:35:25 PM EST
Accepted by the SEC: Fri Apr 29 2022
Period: Thursday, March 31, 2022
Industry: Special Industry Machinery No Metalworking Machinery

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/nvt/0001720635-22-000018.htm