nVent Electric (NYSE: NVT) reported Q2 EPS of $0.50, $0.10 better than the analyst estimate of $0.40. Revenue for the quarter came in at $601 million versus the consensus estimate of $536.51 million.

“I am extremely pleased with our second quarter results. Sales grew 34%, with all segments above 2019 sales levels, driven by broad-based demand. We delivered robust margin expansion across all segments and strong earnings growth. Our teams did a tremendous job serving increased customer demand while navigating unprecedented supply chain constraints and inflation. We delivered another quarter of strong cash flow, up more than $50 million in the first half of the year. We completed two bolt-on acquisitions in the quarter, extending our presence in high-growth verticals like data centers and networking solutions and infrastructure. I’m also very proud of our recently published Social Responsibility Report, outlining our goals, progress and commitment to living social responsibility every day through our employees, our operations and our communities," said Beth Wozniak, nVent's chief executive officer.

"As we look to the second half of the year, our strong orders and backlog give us confidence in our continued growth. As a result of our first half performance and improved outlook, we are raising our full-year revenue and EPS guidance. The electrification of everything, combined with strong execution of our One nVent strategy, position us well to grow."

GUIDANCE:

nVent Electric sees Q3 2021 EPS of $0.45-$0.48, versus the consensus of $0.46.

nVent Electric sees FY2021 EPS of $1.67-$1.75, versus the consensus of $1.75.

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