NVent Electric plc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 06:30 am EDT
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nVent Electric plc reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 858.8 million compared to USD 745.2 million a year ago. Net income was USD 105.5 million compared to USD 93.4 million a year ago. Basic earnings per share from continuing operations was USD 0.64 compared to USD 0.56 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 0.55 a year ago.
For the nine months, sales was USD 2,402.4 million compared to USD 2,167.4 million a year ago. Net income was USD 312.2 million compared to USD 241.1 million a year ago. Basic earnings per share from continuing operations was USD 1.89 compared to USD 1.45 a year ago. Diluted earnings per share from continuing operations was USD 1.86 compared to USD 1.43 a year ago.
nVent Electric plc is a global provider of electrical connection and protection solutions. The Company designs, manufactures, markets, installs and services products and solutions. It operates in three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control and power equipment. Its cooling, power distribution and enclosures solutions manage power and create protected operating environments for applications. The Electrical & Fastening Solutions segment provides fastening solutions that connect and protect electrical and mechanical systems and civil structures. The Thermal Management segment provides electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes and people. It has a portfolio of brands, including nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, TRACER, ILSCO, Gardner Bender, and King Innovation.
NVENT ELECTRIC PLC 
