Latest quarter
nVent reported second-quarter revenue of $1.5 billion, above the consensus of $1.3 billion. Adjusted earnings per share were $1.45, compared with the consensus estimate of $1.16.
Revenue rose 52.8% from $963.1 million a year earlier. In its filing, nVent attributed the increase primarily to organic growth in infrastructure and commercial and residential sales, including growth in data centers. Systems Protection sales rose 69.6%, while Electrical Connections sales increased 20.6%.
Gross margin declined to 37.9% from 38.6%; the filing cited raw material and labor inflation, partly offset by higher sales volume and productivity gains. Operating margin rose to 20.4% from 16.3%. Diluted earnings per share increased to $1.32 from $0.67, and free cash flow was $162.0 million, compared with −$33.8 million a year earlier.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $1.5 billion | $963.1 million | 52.8% |
| Diluted EPS | $1.32 | $0.67 | 97.0% |
| Gross margin | 37.9% | 38.6% | −0.7 percentage points |
| Operating margin | 20.4% | 16.3% | 4.2 percentage points |
| Free cash flow | $162.0 million | −$33.8 million | — |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $1.45 | $1.16 | Beat by 25.0% |
| Revenue | $1.5 billion | $1.3 billion | Beat by 17.0% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
In its filing, nVent said electrification, sustainability and digitalization, including increased use of artificial intelligence, had driven sales growth particularly in infrastructure. The company said it expects those trends to continue driving sales growth through 2026 and beyond.
nVent said it had taken pricing actions and implemented supply-chain and productivity improvements to help offset costs. It expects inflationary cost increases, including tariff impacts, to continue through 2026 and beyond and said they could negatively affect operating results.
Guidance
nVent raised its full-year 2026 GAAP earnings-per-share guidance to $4.29 to $4.39 from $3.68 to $3.78. The company also raised its adjusted EPS outlook to $5.00 to $5.10 from $4.45 to $4.55.
| Metric | For | Guide | Previous guide | Change |
|---|---|---|---|---|
| EPS, non-GAAP | Q3 FY2026 | $1.35–$1.38 | — | New |
| EPS, GAAP | Q3 FY2026 | $1.18–$1.21 | — | New |
| EPS, non-GAAP | FY2026 | $5.00–$5.10 | — | New |
| EPS, GAAP | FY2026 | $4.29–$4.39 | — | New |