Strong Q1 Performance
nVent reported double-digit growth in orders, sales, adjusted EPS, and free cash flow. Sales were up 11%, and adjusted EPS grew 10%.
Data Solutions Growth
Data Solutions experienced strong double-digit growth, contributing significantly to the overall positive performance.
Acquisition of Avail Electrical Products Group
The acquisition of Avail Electrical Products Group is expected to contribute $0.05 to EPS and supports growth in Power Utilities and Data Centers.
Raised Full-Year Guidance
nVent raised its full-year reported sales growth guidance to 19%-21% and adjusted EPS guidance to $3.03-$3.13.
Successful Portfolio Transformation
The divestiture of Thermal Management and acquisitions have positioned nVent as a higher-growth electrical company, with infrastructure now the largest vertical.