nVent Electric Non-GAAP EPS of $0.77 beats by $0.03, revenue of $875M beats by $10.86M (NYSE:NVT)

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nVent Electric press release (NYSE:NVT): Q1 Non-GAAP EPS of $0.77 beats by $0.03.
Revenue of $875M (+18.1% Y/Y) beats by $10.86M.
First quarter 2024 sales of $875 million were up 18 percent relative to first quarter 2023 and increased 5 percent organically, which excludes the impact from currency fluctuations and acquisitions.
The company continues to expect reported sales growth for full-year 2024 of 8 to 10 percent vs 9.29% consensus and organic sales growth of 3 to 5 percent. The company now expects full-year 2024 EPS of $2.74 to $2.82 on a GAAP basis and adjusted EPS of $3.22 to $3.30, versus prior guidance of $2.73 to $2.83 on a GAAP basis and adjusted EPS of $3.17 to $3.27 vs $3.26 consensus
The company estimates second quarter 2024 reported sales growth of 10 to 12 percent vs 10.97% consensus and organic sales growth of 3 to 5 percent. The company estimates second quarter 2024 EPS on a GAAP basis of $0.70 to $0.72 and adjusted EPS of $0.81 to $0.83 vs $0.83 consensus