2023-04-19 06:45:53 ET
- nVent Electric ( NYSE: NVT ) expects sales of around $741M for first quarter of 2023, above analysts estimates of $731.56M .
- That would represent a growth of ~7% over the first quarter 2022 and approximately 8% organically.
- On an adjusted basis, the company expects to earn $0.66 to $0.67 per share vs. $0.58 consensus. That would imply a growth of 32% to 34%.
- CEO Beth Wozniak stated: "Our preliminary first quarter results show a strong start to the year for nVent, with impressive margin expansion. We are very pleased with our performance and are well positioned to continue to grow with the electrification of everything, building a more sustainable and electrified world. We are excited to further expand our connect and protect portfolio with the acquisition of ECM Industries which is expected to close in the second quarter. Our future is bright at nVent."
- nVent ( NVT ) is scheduled to report quarterly financial results and host earnings conference call on April 28, 2023.
For further details see:
nVent Electric guides Q1 earnings above consensus