LONDON — nVent Electric plc (NYSE:NVT) (“nVent”) today announced financial results for the first quarter of 2025 and provided guidance for the second quarter and full-year 2025.
“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 Chief Executive Officer 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.”
Reported sales in the first quarter totaled $809 million. This performance represents an increase of 11 percent. Organically, sales grew 2 percent, which excludes the impact of currency fluctuations and acquisitions.
First quarter 2025 earnings per diluted share (“EPS”) from continuing operations were $0.52, up 2 percent, while on an adjusted basis, the company had EPS from continuing operations of $0.67, up 10 percent. Adjusted EPS, adjusted operating income, adjusted net income and free cash flow are non-GAAP financial measures described in the attached Non-GAAP Financial Measures section of this press release.
First quarter 2025 operating income was $130 million, down 1 percent, compared to $132 million in the first quarter of 2024. Adjusted operating income was $162 million, up 4 percent, compared to $156 million in the first quarter of 2024.
nVent had net cash provided by operating activities of continuing operations of $64 million in the first quarter compared to $49 million in the first quarter of 2024. Free cash flow generated was $44 million in the first quarter compared to $34 million in the first quarter of 2024.
| FIRST QUARTER PERFORMANCE ($ in millions)(1) | |||
| nVent Electric plc | |||
| Three months ended | |||
| March 31, 2025 March 31, 2024 | % / point change | ||
| Net Sales | $809 $732 | 11% | |
| Organic | 2% | ||
| Operating Income | $130 $132 | -1% | |
| Reported ROS | 16.1% 18.0% | -190 bps | |
| Adjusted Operating Income | $162 $156 | 4% | |
| Adjusted ROS | 20.0% 21.3% | -130 bps | |
| Systems Protection | |||
| Three months ended | |||
| March 31, 2025 March 31, 2024 | % / point change | ||
| Net Sales | $508 $440 | 16% | |
| Organic | flat | ||
| Adjusted ROS | 20.5% 21.6% | -110 bps | |
| Electrical Connections | |||
| Three months ended | |||
| March 31, 2025 | March 31, 2024 | % / point change | |
| Net Sales | $301 | $292 | 3% |
| Organic | 4% | ||
| Adjusted ROS | 28.3% | 29.2% | -90 bps |
| (1) Certain figures presented in the tables are rounded. | |||
GUIDANCE FOR FULL-YEAR AND SECOND QUARTER 2025
The company now estimates reported sales growth for full-year 2025 of 19 to 21 percent versus prior guidance of 8 to 10 percent. This updated guidance range includes the acquisition of the Avail Electrical Products Group. This new guidance range represents 5 to 7 percent organic sales growth versus prior guidance of 4 to 6 percent. The company now expects full-year 2025 EPS of $2.48 to $2.58 on a GAAP basis and adjusted EPS of $3.03 to $3.13, versus prior guidance of $2.45 to $2.55 on a GAAP basis and adjusted EPS of $2.98 to $3.08.
The company estimates second quarter 2025 reported sales growth of 22 to 24 percent and organic sales growth of 4 to 6 percent. The company estimates second quarter 2025 EPS on a GAAP basis of $0.64 to $0.66 and adjusted EPS of $0.77 to $0.79.
DIVIDENDS
nVent previously announced on February 17, 2025 that its Board of Directors approved a regular cash dividend of
$0.20 per share, payable during the second quarter on May 9, 2025. EARNINGS CONFERENCE CALL
nVent’s management team will discuss the company’s first quarter performance on a conference call with analysts and investors at 9:00 a.m. ET today. A live audio webcast of the conference call and materials will be available through the “Investor Relations” section of the company’s website (https://investors.nvent.com). To participate, please dial 1-833-630-1071 or 1-412-317-1832 approximately ten minutes before the 9:00 a.m. ET start. A replay of the conference call will be made accessible once it becomes available and will remain accessible through May 16, 2025 by dialing 1-877-344-7529 or 1-412-317-0088, along with the access code 1400461.
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