Reported to Adjusted 2021 Reconciliation nVent Electric plc Reconciliation of GAAP to non-GAAP financial measures for the year ended December 31, 2021 excluding the effect of adjustments (Unaudited) | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------|---------------|-------|----------------|---------------|-------|----------------|-------|-----------| | In millions, except per-share data | First Quarter | | Second Quarter | Thi ...

PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=ITEM%201.%20Financial%20Statements%20(unaudited)) Q1 2023 unaudited financials report strong net income growth, stable assets, improved cash flow, and a major acquisition [Condensed Consolidated Statements of Income and Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) Q1 2023 vs Q1 2022 Income Statement Highlights | Metric | Q1 2023 (in millions) | Q1 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $740.6 | $694.7 | +6.6% | | Gross Profit | $303.2 | $247.3 | +22.6% | | Operating Income | $124.1 | $90.1 | +37.7% | | Net Income | $93.8 | $67.8 | +38.3% | | Diluted EPS | $0.56 | $0.40 | +40.0% | [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Highlights (Mar 31, 2023 vs Dec 31, 2022) | Account | Mar 31, 2023 (in millions) | Dec 31, 2022 (in millions) | | :--- | :--- | :--- | | Cash and cash equivalents | $303.1 | $297.5 | | Total current assets | $1,251.8 | $1,229.2 | | Goodwill | $2,180.5 | $2,178.1 | | Total assets | $4,916.4 | $4,902.2 | | Total current liabilities | $601.3 | $649.5 | | Long-term debt | $1,064.6 | $1,068.2 | | Total equity | $2,789.9 | $2,731.7 | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2023 vs Q1 2022 Cash Flow Summary | Activity | Q1 2023 (in millions) | Q1 2022 (in millions) | | :--- | :--- | :--- | | Net cash from operating activities | $69.4 | $6.5 | | Net cash used for investing activities | ($16.9) | ($9.2) | | Net cash (used for) provided by financing activities | ($50.8) | $5.9 | | Change in cash and cash equivalents | $5.6 | $1.6 | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - On April 1, 2023, the company entered into a definitive agreement to acquire ECM Industries, LLC for a purchase price of **$1.1 billion**, with the acquisition expected to close in the second quarter of 2023[31](index=31&type=chunk) - To finance the ECM Industries acquisition, the company arranged a **$300.0 million** senior unsecured term loan facility and a public offering of **$500.0 million** in 5.650% Senior Notes due 2033[33](index=33&type=chunk)[34](index=34&type=chunk) Q1 2023 Revenue by Segment | Segment | Q1 2023 Net Sales (in millions) | Q1 2022 Net Sales (in millions) | | :--- | :--- | :--- | | Enclosures | $391.0 | $359.4 | | Electrical & Fastening Solutions | $205.7 | $187.6 | | Thermal Management | $143.9 | $147.7 | | **Total** | **$740.6** | **$694.7** | Q1 2023 Segment Income | Segment | Q1 2023 Segment Income (in millions) | Q1 2022 Segment Income (in millions) | | :--- | :--- | :--- | | Enclosures | $82.5 | $50.3 | | Electrical & Fastening Solutions | $61.3 | $47.1 | | Thermal Management | $30.9 | $32.4 | | **Total** | **$148.0** | **$110.2** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reports net sales growth, expanded gross margin, strong segment performance, a key acquisition, and robust liquidity [Overview and Key Trends](index=19&type=section&id=Overview%20and%20Key%20Trends) - The company operates across three segments: Enclosures (**53%** of Q1 2023 revenue), Electrical & Fastening Solutions (**28%**), and Thermal Management (**19%**)[79](index=79&type=chunk) - A definitive agreement was signed on April 1, 2023, to acquire ECM Industries for **$1.1 billion**, which will be integrated into the Electrical & Fastening Solutions segment upon closing[81](index=81&type=chunk) - Key trends include moderating supply chain challenges, continued cost inflation, economic uncertainty, and strategic objectives focused on growth, the ECM acquisition, digital transformation, and supply chain resiliency[82](index=82&type=chunk) [Consolidated Results of Operations](index=22&type=section&id=Consolidated%20Results%20of%20Operations) Components of Net Sales Change (Q1 2023 vs Q1 2022) | Component | Percentage Change | | :--- | :--- | | Volume | +0.3% | | Price | +8.1% | | **Organic Growth** | **+8.4%** | | Currency | -1.8% | | **Total** | **+6.6%** | - Gross profit margin increased by **5.3 percentage points** to **40.9%**, primarily due to higher selling prices and productivity savings offsetting inflationary labor costs[84](index=84&type=chunk)[87](index=87&type=chunk) - SG&A expense as a percentage of net sales increased by **1.5 percentage points** to **21.9%**, driven by inflation, higher restructuring and acquisition costs (**$6.3 million** in Q1 2023 vs **$2.3 million** in Q1 2022), and growth investments[88](index=88&type=chunk)[92](index=92&type=chunk) [Segment Results of Operations](index=23&type=section&id=Segment%20Results%20of%20Operations) - **Enclosures:** Net sales grew **8.8%** (**10.7%** organic), driven by strong price realization (**+8.5%**) and volume growth (**+2.2%**), expanding segment income margin by **7.1 percentage points** to **21.1%**[92](index=92&type=chunk)[93](index=93&type=chunk)[95](index=95&type=chunk) - **Electrical & Fastening Solutions:** Net sales increased **9.6%** (**10.9%** organic), primarily from strong pricing (**+10.8%**), with segment income margin growing by **4.7 percentage points** to **29.8%** due to pricing and favorable product mix[96](index=96&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk) - **Thermal Management:** Net sales decreased **2.6%** (**-0.2%** organic) due to a **4.0%** volume decline offsetting **3.8%** price increases, primarily in commercial & residential business, leading to a slight **0.4 percentage point** segment income margin contraction to **21.5%** from inflation, lower volume, and unfavorable mix[101](index=101&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) - The company ended Q1 2023 with **$303.1 million** in cash and cash equivalents and **$600.0 million** available under its Revolving Credit Facility[107](index=107&type=chunk)[119](index=119&type=chunk) Free Cash Flow Reconciliation (Q1 2023 vs Q1 2022) | Metric (in millions) | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash from operating activities | $69.4 | $6.5 | | Capital expenditures | ($17.1) | ($11.1) | | Proceeds from sale of property | $0.2 | $1.9 | | **Free cash flow** | **$52.5** | **($2.7)** | - During Q1 2023, the company repurchased **0.3 million** shares for **$13.2 million** and paid dividends of **$29.3 million**[126](index=126&type=chunk)[127](index=127&type=chunk) - As of March 31, 2023, **$127.3 million** remained available for share repurchases under the 2021 Authorization, expiring in July 2024[126](index=126&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=30&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company reports no material changes in its market risk during the quarter ended March 31, 2023 - There have been no material changes in market risk during the quarter ended March 31, 2023[133](index=133&type=chunk) [Item 4. Controls and Procedures](index=30&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2023[134](index=134&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[135](index=135&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=31&type=section&id=ITEM%201.%20Legal%20Proceedings) There have been no material developments in legal proceedings since the disclosures in the 2022 Annual Report on Form 10-K - No material developments have occurred with respect to legal proceedings previously disclosed in the 2022 Annual Report on Form 10-K[138](index=138&type=chunk) [Item 1A. Risk Factors](index=31&type=section&id=ITEM%201A.%20Risk%20Factors) The company has identified new risk factors related to the pending acquisition of ECM Industries, including integration challenges and increased financial leverage - New risk factors have been introduced related to the acquisition of ECM Industries[139](index=139&type=chunk) - Key risks include challenges in integrating ECM's operations, which could delay or prevent the realization of expected synergies and cost savings[140](index=140&type=chunk) - The company's indebtedness is expected to increase materially by approximately **$800.0 million** to finance the acquisition, potentially harming its financial condition and reducing flexibility[142](index=142&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2023, the company repurchased **512,422** shares, with **$127.3 million** remaining for future repurchases Share Repurchases in Q1 2023 | Period | Total Shares Purchased | Average Price Paid | Shares Purchased as Part of Plan | | :--- | :--- | :--- | :--- | | Jan 1 - Jan 28, 2023 | 349,133 | $38.60 | 342,830 | | Jan 29 - Feb 25, 2023 | 4,784 | $40.69 | — | | Feb 26 - Mar 31, 2023 | 158,505 | $45.83 | — | | **Total** | **512,422** | | **342,830** | - As of March 31, 2023, the company had **$127.3 million** available for share repurchases under the 2021 Authorization, which expires on July 22, 2024[148](index=148&type=chunk) [Item 6. Exhibits](index=33&type=section&id=ITEM%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, including key agreements and officer certifications - Key exhibits filed with this report include the Loan Agreement dated April 26, 2023, and the Merger Agreement for the ECM Industries acquisition dated April 1, 2023[151](index=151&type=chunk)

nVent Electric PLC (NYSE:NVT) Q1 2023 Earnings Conference Call April 28, 2023 9:00 AM ET Company Participants Tony Riter - VP, IR Beth Wozniak - CEO & Director Sara Zawoyski - EVP & CFO Conference Call Participants Julian Mitchell - Barclays Bank Deane Dray - RBC Capital Markets Joseph Ritchie - Goldman Sachs Group Jeffrey Sprague - Vertical Research Partners Jeffrey Hammond - KeyBanc Capital Markets Scott Graham - Loop Capital Markets Nigel Coe - Wolfe Research Operator Good morning, everyone, and welcome ...

Up 4% to 6% organic ▪ Corporate costs ~$95M nVent Strategy Adjusted EBITDA Margin* Reported to Adjusted 2023 Reconciliation No change ▪ Secular tailwinds continue in electrification Q2 2023 nVent Outlook* 12 Q1 '23 Earnings Presentation Extraordinary and non-recurring costs primarily consist of integration and consolidation costs related to historical ECM acquisitions, financial sponsor management fees, and non-recurring professional fees and transaction costs Q1 '23 Earnings Presentation nVent First Quarte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38265 nVent Electric plc (Exact name of Registrant as specified in its charter) Ireland 98-1391970 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

Barclays 2023 Global 1 Industrial Conference Beth Wozniak, Chief Executive Officer Forward-Looking Statement and Key Definitions Caution Concerning Forward-Looking Statements This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the word ...

Financial Data and Key Metrics Changes - Full year sales grew 18% with adjusted EPS up 22% [5][12] - Fourth quarter sales were $742 million, up 11% year-over-year, or 15% organically [27][40] - Segment income for Q4 was $144 million, up 31% year-over-year, with a return on sales of 19.4%, an increase of 290 basis points [28][36] - Free cash flow for Q4 was $180 million, up 77% year-over-year [12][29] Business Line Data and Key Metrics Changes - Enclosures sales increased 17% organically, with segment income up 67% and return on sales at 19.2% [31][32] - Electrical and fastening sales grew 16% organically, with segment income up 18% and return on sales at 27.5% [33][34] - Thermal management sales grew 9% organically, with segment income up 1% and return on sales at 25.7% [35][36] Market Data and Key Metrics Changes - North America saw strong double-digit growth, while Europe grew in all segments at high single digits [14][31] - Developing regions experienced a decline primarily due to COVID-related impacts in China [14] - Orders in Q4 were flat year-over-year, following a 37% growth in the previous year [15] Company Strategy and Development Direction - The company focuses on high growth verticals, new products, global expansion, and acquisitions [11][17] - Infrastructure is now approaching 25% of sales, with significant growth in data solutions and power utilities [17][18] - The company aims to continue investing in electrification, sustainability, and digitalization trends [21][24] Management's Comments on Operating Environment and Future Outlook - Management expects continued strong growth in industrials and infrastructure due to investments in automation and electrification [21][22] - Supply chain challenges are anticipated to gradually improve, with an inflationary environment expected to persist [24] - The company is confident in its ability to manage price-cost dynamics effectively [24][41] Other Important Information - The company launched 59 new products in 2022, contributing approximately three points to sales growth [16][18] - The balance sheet remains strong with $298 million in cash and $600 million available on the revolver [38][39] - The company plans to return $183 million to shareholders, including dividends and share repurchases [39] Q&A Session Summary Question: Can you elaborate on the pricing strategy for 2023? - Management indicated that price plus productivity is expected to offset inflation, with a gradual improvement in productivity throughout the year [58][59] Question: What is the health of the distribution channel? - Management noted that while there was some seasonal destocking, strong demand and sell-through from distribution partners remain [60][61] Question: How do you view the sustainability of enclosure margins? - Management expects a return to a more normal margin profile for enclosures, with strong year-over-year margin expansion anticipated [68][69] Question: What is the outlook for data center solutions? - The company sees strong demand for liquid cooling solutions and power distribution units, driven by technology shifts in data centers [99][102] Question: Can you provide insights on R&D spending? - R&D spending has increased significantly, focusing on collaborative projects that meet market needs and reduce cycle times [126][128]

Earnings Presentation This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "forecasts," "should," "would," ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38265 nVent Electric plc | (Exact name of Registrant as specified in its charter) | | | --- | --- | | Ireland | 98-1391970 | | (State or other jurisdiction of incorporat ...

nVent Third Quarter 2022 1 Earnings Presentation October 28, 2022 Forward-Looking Statement and Key Definitions Caution Concerning Forward-Looking Statements This presentation contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "pla ...