Nvent Electric PLC, a global leader in electrical connection and protection solutions, has announced its financial results for the fourth quarter and full-year 2024 alongside guidance for the full-year 2025. The company reported strong execution with margin expansion and robust cash flow.
In the fourth quarter of 2024, reported sales from continuing operations were $752 million, reflecting a 9% increase from the same period in 2023. However, organically, sales were down 1%. The reported EPS from continuing operations for the same quarter was $(0.10), down 108% from the previous year, while the adjusted EPS stood at $0.59, marking a 7% increase.
For the full-year 2024, reported sales from continuing operations reached $3.0 billion, up 13% from the previous year, with organic growth at 2%. The reported EPS from continuing operations for the full year was $1.43, down 48%, while the adjusted EPS was $2.49, up 7% from the prior year.
The company's operating income for the fourth quarter of 2024 was $117 million, remaining flat compared to the same period in 2023. On an adjusted basis, the operating income was $158 million, up 12% from the previous year. Full-year 2024 operating income was reported at $527 million, marking a 14% increase from 2023.
Nvent's net cash provided by operating activities from continuing operations in the fourth quarter of 2024 was $177 million, with free cash flow reaching $150 million. For the full-year, net cash provided by operating activities from continuing operations was $501 million, and free cash flow stood at $427 million.
Looking ahead, the company issued guidance for the full-year 2025, with reported sales growth projected to be between 8% to 10%, and organic sales growth expected to be in the range of 4% to 6%. The guidance for reported EPS was set at $2.45 to $2.55, and adjusted EPS at $2.98 to $3.08.
Nvent's management expressed optimism about the future, highlighting the company's strong sales and earnings growth prospects for 2025. The company is particularly excited about the infrastructure vertical, where it is rapidly expanding its product portfolio and solutions for strong growth, particularly in data centers and power utilities.
The press release also mentioned previously announced dividends and an upcoming earnings conference call for analysts and investors to discuss the company’s performance.
Nvent is a leading global provider of electrical connection and protection solutions, offering a comprehensive range of enclosures and electrical and fastening solutions across industry-leading brands. As a result of these announcements, the company's shares have moved 2.1% on the market, and are now trading at a price of $64.91. Check out the company's full 8-K submission here.
