nVent(US:NVT) ZACKSยท2024-08-06 14:36Core Insights - nVent Electric (NVT) reported revenue of $880.3 million for the quarter ended June 2024, reflecting a year-over-year increase of 9.6% [1] - The company's EPS for the quarter was $0.82, up from $0.77 in the same quarter last year [1] - Revenue fell short of the Zacks Consensus Estimate of $891.63 million, resulting in a surprise of -1.27% [1] - EPS also missed the consensus estimate of $0.83, with a surprise of -1.20% [1] Revenue Performance by Segment - Net Sales for Enclosures reached $440.80 million, slightly above the estimated $439.30 million, marking a year-over-year increase of 10.2% [3] - Net Sales for Electrical & Fastening Solutions were $299 million, below the estimated $316.84 million, but still showing a year-over-year increase of 12.1% [4] - Net Sales for Thermal Management amounted to $140.50 million, exceeding the estimated $138.40 million, with a year-over-year change of 3.1% [5] Segment Income Performance - Segment income for Enclosures was reported at $103.80 million, surpassing the average estimate of $97.63 million [6] - Segment income for Electrical & Fastening Solutions was $92.50 million, below the average estimate of $101.20 million [7] - Segment income for Thermal Management was $28 million, slightly below the estimated $29.41 million [8] Stock Performance - nVent's shares have declined by 18.4% over the past month, compared to a 6.7% decline in the Zacks S&P 500 composite [8] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [8]