FMP
nVent Electric Reports Q2 Beat, Raises 2022 Guidance
Aug 2, 2022 10:35 AM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
nVent Electric plc (NYSE:NVT) reported its Q2 results, with EPS of $0.57 coming in better than the Street estimate of $0.54. Revenue was $728 million, compared to the Street estimate of $687.72 million.
The revenue upside was tempered by ongoing supply chain challenges that weighed on margins and free cash flow conversion. Organic sales surprised meaningfully to the upside, growing 21% in the quarter, compared to the company’s guidance for 12%-14%, and all segments grew above 15%.
The company provided its full 2022-year guidance, expecting EPS to be in the range of $2.17-$2.23, compared to the Street estimate of $2.20.
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