nVent Electric reports Q1 adjusted EPS 67c, consensus 66c

Reports Q1 revenue $809, consensus $790.29M. “As we continue to transform our portfolio to become a more focused, higher growth electrical company, we’re off to a strong start in the first quarter. We reported double-digit growth in orders and sales, and continue to see our backlog grow, up double digits sequentially, giving us visibility through the year,” said nVent Chair and CEO Beth Wozniak. “We closed the Thermal Management divestiture early in the quarter and the Avail Electrical Products Group acquisition yesterday. This further strengthens our position in the high growth infrastructure vertical, in particular power utilities, data centers and renewables. Our disciplined capital allocation is focused on growth and returning cash to shareholders for continued value creation. We are raising our full-year sales and EPS guidance to reflect the Avail Electrical Products Group acquisition, the strength in data centers and power utilities, and to include the impact of tariffs.”