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nVent Electric plc (NYSE:NVT) reported its third-quarter results on Friday that topped street estimates.
The company reported adjusted earnings of 91 cents per share, up 44% from the prior year period, surpassing analysts' expectations of 88 cents.
Net sales climbed to $1.05 billion, up 35% from a year earlier and ahead of estimates of $1.01 billion, while organic sales growth was 16% for the quarter. The company's adjusted operating income rose 27% to $213 million.
nVent Electric raised its full-year 2025 outlook, now expecting reported sales growth of 27% to 28%, up from its prior guidance of 24% to 26%.
The company also projects adjusted earnings per share of $3.31 to $3.33, compared with the earlier range of $3.22 to $3.30. Wall Street analysts anticipate earnings of $3.29 per share from sales of $3.76 billion.
For the fourth quarter, nVent anticipates reported sales growth of 31% to 33% and organic sales growth of 15% to 17%, with an adjusted EPS forecast of between 87 cents and 89 cents. In contrast, Wall Street analysts expect an adjusted EPS of 88 cents.
nVent Electric shares fell 1% to trade at $113.22 on Monday.
These analysts made changes to their price targets on nVent Electric following earnings announcement.
Considering buying NVT stock? Here’s what analysts think:
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