nvt-20250206

Exhibit 99.1

News Release

nVent Announces Fourth Quarter and Full-Year 2024 Financial Results

Strong execution with margin expansion and robust cash flow

•Fourth quarter reported sales from continuing operations of $752 million, up 9%; Organically down 1%

•Fourth quarter reported EPS from continuing operations of $(0.10), down 108%; Adjusted EPS of $0.59, up 7%

•Full-year reported sales from continuing operations of $3.0 billion, up 13%; Organically up 2%

•Full-year reported EPS from continuing operations of $1.43, down 48%; Adjusted EPS of $2.49, up 7%

•Full-year Cash Flows from Operations from continuing operations of $501 million; Free Cash Flow from continuing operations of $427 million

•Company issues full-year 2025 guidance:

◦Reported sales growth of 8% to 10%; Organic sales growth of 4% to 6%

◦Reported EPS of $2.45 to $2.55 and Adjusted EPS of $2.98 to $3.08

Reconciliations of GAAP (reported) to Non-GAAP measures are in the attached financial tables.

LONDON, UNITED KINGDOM – February 6, 2025 – nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced financial results for the fourth quarter and full-year 2024 and provided guidance for the first quarter and full-year 2025.

"2024 marked a pivotal year with our strong performance and portfolio transformation, and I’m proud of all that our team accomplished. For the full year, we had strong sales growth, expanded margin and delivered robust cash flow. We launched approximately 90 new products and our Data Solutions business grew approximately 30 percent. We are transforming our portfolio with the 2024 acquisition of Trachte and recently completed sale of our Thermal Management business." said Beth Wozniak, nVent's chair and chief executive officer.

“We are becoming a more focused, higher growth electrical connection and protection leader well positioned with the electrification, sustainability and digitalization megatrends. We expect another year of strong sales and earnings growth in 2025. We are excited about the infrastructure vertical where we are rapidly expanding our product portfolio and solutions for strong growth, particularly in data centers and power utilities. Our future is bright at nVent."

Fourth quarter 2024 sales of $752 million were up 9 percent relative to fourth quarter 2023 and decreased 1 percent organically, which excludes the impact from acquisitions and currency fluctuations. Fourth quarter 2024 earnings per diluted share (“EPS”) from continuing operations were $(0.10), down 108 percent from $1.26 in the prior year quarter, while on an adjusted basis, the company had EPS from continuing operations of $0.59, up 7 percent from $0.55. Full-year 2024 sales of $3.0 billion were up 13 percent relative to full-year 2023 and increased 2 percent organically. Full-year 2024 EPS were $1.43, down 48 percent from $2.73 in the prior year, while on an adjusted basis, the company had EPS of $2.49, up 7 percent from $2.32 in the prior year. Adjusted operating income, adjusted net income, free cash flow and adjusted EPS are described in the attached schedules.

Fourth quarter 2024 operating income was $117 million, flat compared to $118 million in the fourth quarter of 2023. On an adjusted basis, operating income was $158 million, up 12 percent, compared to $142 million in the fourth quarter of 2023. Full-year 2024 operating income was $527 million, up 14 percent, compared to $463 million in 2023. On an adjusted basis, adjusted operating income was $652 million, up 15 percent, compared to $567 million in full-year 2023.

nVent had net cash provided by operating activities from continuing operations of $177 million in the fourth quarter of 2024 and free cash flow of $150 million. Full-year net cash provided by operating activities from continuing operations was $501 million and free cash flow was $427 million.

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FOURTH QUARTER PERFORMANCE ($ in millions)


nVent Electric plc
	Three months ended
	December 31, 2024	December 31, 2023	% / point change
Net Sales	$752	$691	9%
Organic			-1%
Operating Income	$117	$118	flat
Reported ROS	15.6%	17.0%	-140 bps
Adjusted Operating Income	$158	$142	12%
Adjusted ROS	21.0%	20.5%	50 bps


Enclosures
	Three months ended
	December 31, 2024	December 31, 2023	% / point change
Net Sales	$466	$402	16%
Organic			-1%
ROS	21.5%	21.1%	40 bps

Electrical & Fastening Solutions
	Three months ended
	December 31, 2024	December 31, 2023	% / point change
Net Sales	$287	$288	-1%
Organic			flat
ROS	29.4%	29.6%	-20 bps

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FULL-YEAR PERFORMANCE ($ in millions)


nVent Electric plc
	Full-Year
	December 31, 2024	December 31, 2023	% / point change
Net Sales	$3,006	$2,669	13%
Organic			2%
Operating Income	$527	$463	14%
Reported ROS	17.5%	17.3%	20 bps
Adjusted Operating Income	$652	$567	15%
Adjusted ROS	21.7%	21.2%	50 bps


Enclosures
	Full-Year
	December 31, 2024	December 31, 2023	% / point change
Net Sales	$1,823	$1,606	14%
Organic			5%
ROS	22.1%	21.6%	50 bps

Electrical & Fastening Solutions
	Full-Year
	December 31, 2024	December 31, 2023	% / point change
Net Sales	$1,183	$1,063	11%
Organic			-2%
ROS	30.0%	31.1%	-110 bps

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GUIDANCE FOR FULL-YEAR AND FIRST QUARTER 2025

The company introduces 2025 sales guidance of up 8 to 10 percent, which represents a range of a 4 to 6 percent increase in organic sales versus the prior year. The company expects full-year 2025 EPS on a GAAP basis of $2.45 to $2.55 and $2.98 to $3.08 on an adjusted basis.

In addition, the company estimates reported sales for the first quarter of 2025 to be in the range of up 7 to 9 percent, which represents a 0 to 2 percent increase on an organic basis. The company estimates first quarter 2025 EPS on a GAAP basis of $0.52 to $0.54 and adjusted EPS of $0.65 to $0.67.

DIVIDENDS

nVent previously announced on September 24, 2024 that its Board of Directors approved a regular cash dividend of $0.19 per share, which was paid during the fourth quarter on November 1, 2024. The company also announced on December 16, 2024 that its Board of Directors approved a regular cash dividend of $0.20 per ordinary share, payable during the first quarter on February 7, 2025.

EARNINGS CONFERENCE CALL

nVent’s management team will discuss the company’s fourth quarter and full-year performance on a conference call with analysts and investors at 10:00 a.m. Eastern today. A live audio webcast of the conference call and materials will be available through the “Investor Relations” section of the company’s website (https://investors.nvent.com). To participate, please dial 1-833-630-1071 or 1-412-317-1832 approximately ten minutes before the 10:00 a.m. ET start. A replay of the conference call will be made accessible once it becomes available and will remain accessible through February 20, 2024 by dialing 1-877-344-7529 or 1-412-317-0088, along with the access code 7088372.

About nVent

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures and electrical and fastening solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, ILSCO and SCHROFF.

nVent CADDY, ERICO, HOFFMAN, ILSCO and SCHROFF are trademarks owned or licensed by nVent Services GmbH or its affiliates.

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CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “could,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these factors are adverse effects on our business operations or financial results, including the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the Trachte acquisition; competition and pricing pressures in the markets we serve, including the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses, including risks associated with military conflicts; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.

Investor Contact

Tony Riter

Vice President, Investor Relations

nVent

763.204.7750

Tony.Riter@nVent.com

Media Contact

Stacey Wempen

Director, External Communications

nVent

763.204.7857

Stacey.Wempen@nVent.com

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nVent Electric plc
Condensed Consolidated Statements of Income (Unaudited)

	Three months ended						Twelve months ended
In millions, except per-share data	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Net sales	$	752.2		$	690.5		$	3,006.1		$	2,668.9
Cost of goods sold	452.7			414.0			1,797.0			1,593.7
Gross profit	299.5			276.5			1,209.1			1,075.2
% of net sales	39.8		%	40.0		%	40.2		%	40.3		%
Selling, general and administrative	165.2			144.0			615.9			557.3
% of net sales	22.0		%	20.9		%	20.5		%	20.9		%
Research and development	17.2			15.0			66.1			55.2
% of net sales	2.3		%	2.2		%	2.2		%	2.1		%


Operating income	117.1			117.5			527.1			462.7
% of net sales	15.6		%	17.0		%	17.5		%	17.3		%
Other expense (income)


Net interest expense	29.4			24.4			106.0			79.4

Gain on sale of investment	—			(0.1)			—			(10.3)
Other expense (income)	(11.4)			14.7			(8.1)			18.3
Income before income taxes	99.1			78.5			429.2			375.3
Provision (benefit) for income taxes	115.6			(133.9)			188.4			(84.4)
Effective tax rate	116.6		%	(170.6		%)	43.9		%	(22.5		%)
Net income (loss) from continuing operations	(16.5)			212.4			240.8			459.7


Income from discontinued operations, net of tax	27.2			42.5			91.0			107.4


Net income	$	10.7		$	254.9		$	331.8		$	567.1
Earnings (loss) per ordinary share
Basic
Continuing operations	$	(0.10)		$	1.28		$	1.45		$	2.78
Discontinued operations	0.16			0.26			0.55			0.64
Basic earnings per ordinary share	$	0.06		$	1.54		$	2.00		$	3.42
Diluted
Continuing operations	$	(0.10)		$	1.26		$	1.43		$	2.73
Discontinued operations	0.16			0.25			0.54			0.64
Diluted earnings per ordinary share	$	0.06		$	1.51		$	1.97		$	3.37
Weighted average ordinary shares outstanding
Basic	164.9			165.5			165.5			165.6
Diluted	167.4			168.3			168.2			168.2
Cash dividends paid per ordinary share	$	0.190		$	0.175		$	0.76		$	0.70

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nVent Electric plc
Condensed Consolidated Balance Sheets (Unaudited)

	December 31, 2024		December 31, 2023
In millions
Assets
Current assets
Cash and cash equivalents	$	131.2	$	179.6
Accounts and notes receivable, net	473.1		470.2
Inventories	360.3		360.2
Other current assets	123.9		72.5
Current assets held for sale	300.8		253.6
Total current assets	1,389.3		1,336.1
Property, plant and equipment, net	347.9		319.9
Other assets
Goodwill	2,221.8		1,858.1
Intangibles, net	1,587.0		1,350.5
Other non-current assets	213.6		302.6
Non-current assets held for sale	975.3		994.5
Total other assets	4,997.7		4,505.7
Total assets	$	6,734.9	$	6,161.7
Liabilities and Equity
Current liabilities
Current maturities of long-term debt and short-term borrowings	$	37.5	$	31.9
Accounts payable	280.1		239.8
Employee compensation and benefits	95.0		102.7
Other current liabilities	266.5		244.5
Current liabilities held for sale	122.5		114.7
Total current liabilities	801.6		733.6
Other liabilities
Long-term debt	2,117.5		1,748.8
Pension and post-retirement compensation and benefits	131.7		140.4
Deferred tax liabilities	242.7		190.3
Other non-current liabilities	157.9		158.8
Non-current liabilities held for sale	45.9		47.7
Total liabilities	3,497.3		3,019.6
Equity	3,237.6		3,142.1
Total liabilities and equity	$	6,734.9	$	6,161.7

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nVent Electric plc
Condensed Consolidated Statements of Cash Flows (Unaudited)
	Twelve months ended
In millions	December 31, 2024		December 31, 2023
Operating activities
Net income	$	331.8	$	567.1
Less: Income from discontinued operations, net of tax	91.0		107.4
Net income from continuing operations	240.8		459.7
Adjustments to reconcile net income to net cash provided by (used for) operating activities

Depreciation	51.3		43.7
Amortization	94.7		69.5
Deferred income taxes	85.3		(165.9)

Share-based compensation	27.3		21.8

Impairment of equity investments	8.8		—
Release of guarantee liability	(12.5)		—

Gain on sale of investment	—		(10.3)

Amortization of bridge financing debt issuance costs	2.2		3.6
Pension and post-retirement expense	5.4		19.9
Pension and post-retirement contributions	(4.7)		(4.8)

Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	38.6		(22.4)
Inventories	(0.6)		21.9
Other current assets	(20.2)		(11.3)
Accounts payable	1.5		7.5
Employee compensation and benefits	(10.8)		3.4
Other current liabilities	(5.0)		(1.5)
Other non-current assets and liabilities	(1.1)		(12.6)
Net cash provided by (used for) operating activities	501.0		422.2
Net cash provided by (used for) operating activities of discontinued operations	142.1		105.9
Net cash provided by (used for) operating activities	643.1		528.1
Investing activities
Capital expenditures	(74.0)		(65.6)
Proceeds from sale of property and equipment	0.5		0.1
Proceeds from sale of investment	—		14.1

Settlement of net investment hedge	0.4		4.8
Acquisitions, net of cash acquired	(677.7)		(1,120.1)
Net cash provided by (used for) investing activities	(750.8)		(1,166.7)
Net cash provided by (used for) investing activities of discontinued operations	(7.6)		2.0
Net cash provided by (used for) investing activities	(758.4)		(1,164.7)
Financing activities




Proceeds from long-term debt	500.0		800.0
Repayments of long-term debt	(126.5)		(101.1)
Settlement of cash flow hedge	—		4.5

Debt issuance costs	(3.9)		(11.2)

Dividends paid	(126.8)		(116.8)
Shares issued to employees, net of shares withheld	3.4		2.1
Repurchases of ordinary shares	(100.0)		(60.8)
Net cash provided by (used for) financing activities	146.2		516.7
Effect of exchange rate changes on cash and cash equivalents	(26.1)		7.5
Change in cash and cash equivalents	4.8		(112.4)
Cash and cash equivalents, beginning of year	179.6		290.0
Cash and cash equivalents within assets held for sale, beginning of period	5.5		7.5
Less: Cash and cash equivalents within assets held for sale, end of period	58.7		5.5
Cash and cash equivalents, end of year	$	131.2	$	179.6

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nVent Electric plc
Supplemental Financial Information by Reportable Segment (Unaudited)

	2024
In millions	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Net sales
Enclosures	$	439.9		$	440.8		$	477.1		$	465.5		$	1,823.3
Electrical & Fastening Solutions	292.2			299.0			304.9			286.7			1,182.8

Total	$	732.1		$	739.8		$	782.0		$	752.2		$	3,006.1
Reportable segment income
Enclosures	$	94.8		$	103.8		$	104.4		$	100.1		$	403.1
Electrical & Fastening Solutions	85.2			92.5			92.6			84.2			354.5

Reportable segment income	180.0			196.3			197.0			184.3			757.6
Enterprise and other	(24.1)			(26.9)			(28.6)			(26.0)			(105.6)
Adjusted operating income	$	155.9		$	169.4		$	168.4		$	158.3		$	652.0
Return on sales
Enclosures	21.6		%	23.5		%	21.9		%	21.5		%	22.1		%
Electrical & Fastening Solutions	29.2		%	30.9		%	30.4		%	29.4		%	30.0		%

Adjusted return on sales	21.3		%	22.9		%	21.5		%	21.0		%	21.7		%



	2023
In millions	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Net sales
Enclosures	$	391.0		$	400.0		$	412.7		$	402.2		$	1,605.9
Electrical & Fastening Solutions	205.7			266.7			302.3			288.3			1,063.0

Total	$	596.7		$	666.7		$	715.0		$	690.5		$	2,668.9
Reportable segment income
Enclosures	$	82.5		$	90.0		$	89.4		$	84.7		$	346.6
Electrical & Fastening Solutions	61.3			86.5			97.6			85.2			330.6

Reportable segment income	143.8			176.5			187.0			169.9			677.2
Enterprise and other	(30.1)			(27.6)			(24.7)			(28.2)			(110.6)
Adjusted operating income	$	113.7		$	148.9		$	162.3		$	141.7		$	566.6
Return on sales
Enclosures	21.1		%	22.5		%	21.7		%	21.1		%	21.6		%
Electrical & Fastening Solutions	29.8		%	32.4		%	32.3		%	29.6		%	31.1		%

Adjusted return on sales	19.1		%	22.3		%	22.7		%	20.5		%	21.2		%

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NON-GAAP FINANCIAL MEASURES

This press release refers to certain non-GAAP financial measures (organic sales, adjusted operating income, adjusted return on sales, adjusted net income, adjusted diluted earnings per share and free cash flow) and a reconciliation of those non-GAAP financial measures to the corresponding financial measures contained in the Company's financial statements prepared in accordance with generally accepted accounting principles. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

As a result of the previously announced agreement to sell the Thermal Management business, the Company is reporting the results of that business as discontinued operations and has reclassified all prior periods presented. "Total" results referenced herein reflect continuing operations combined with discontinued operations. Management believes that these non-GAAP "total" measures will be useful to investors to compare historically provided guidance to results from the quarter.

The 2024 and 2023 adjusted operating income, adjusted return on sales, adjusted net income and adjusted diluted earnings per share eliminate, where applicable:

•Expense related to certain targeted restructuring activities.

•Expense related to certain acquisition and integration activities associated with our business acquisitions, and transaction costs associated with our business divestiture.

•Amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization, associated with those acquisitions. The Company excludes these non-cash expenses because the Company believes it (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of the Company's results with the results of other companies as the amortization expense, inventory step-up amortization, and acquisition related expenses may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although the Company excludes amortization of these acquired intangible assets and inventory step-up from its non-GAAP results, the Company believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted results.

•Gain on sale of investments.

•Release of guarantee liabilities.

•Pension and other postretirement mark-to-market loss (gain). The Company recognizes changes in the fair value of plan assets and net actuarial gains or losses for pension and other post-retirement benefits as a mark-to-market adjustment. Net actuarial gains and losses occur when the actual experience differs from any of the various assumptions used to value the Company's pension and other post-retirement plans or when assumptions change. This accounting method also results in the potential for volatile and difficult to forecast mark-to-market adjustments. The Company believes that the exclusion of pension and other postretirement mark-to-market loss (gain) better reflects the ongoing costs of providing pension and postretirement benefits to its employees.

•Amortization of bridge financing debt issuance costs.

•Income tax effects of the above adjustments, which are calculated using the Company's estimated non-GAAP tax rate. This non-GAAP tax approach eliminates the effects of period specific items, which can vary in size and frequency and do not necessarily reflect our long-term operations. The non-GAAP tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in the Company's geographic earnings mix including due to acquisition activity or other changes in our strategy or business operations.

The Company uses the term "organic sales" to refer to GAAP net sales excluding 1) the impact of currency translation and 2) the impact of revenue from acquired businesses recorded prior to the first anniversary of the acquisition less the amount of sales attributable to divested product lines not considered discontinued operations ("acquisition sales"). The portion of GAAP net sales attributable to currency translation is calculated as the difference between (a) the period-to-period change in net sales (excluding acquisition sales) and (b) the period-to-period change in net sales (excluding acquisition sales) after applying prior period foreign exchange rates to the current year period. The Company uses the term "organic sales growth" to refer to the measure of comparing current period organic net sales with the corresponding period of the prior year.

Management utilizes these adjusted financial measures to assess the run-rate of its continuing operations against those of prior periods without the distortion of these factors that the Company does not consider components of our core operating performance. The Company believes that these non-GAAP financial measures will be useful to investors as well to assess the continuing strength of the Company's underlying operations. In addition, adjusted diluted earnings per share is used as a criterion to measure and pay long-term incentive compensation and adjusted operating income is used as a criterion to measure and pay annual incentive compensation.

The Company uses free cash flow to assess its cash flow performance. The Company believes free cash flow is an important measure of liquidity because it provides the Company and its investors useful information regarding the Company's ability to generate cash without reliance on external financing. Management uses free cash flow to evaluate the resources available to pay dividends, make acquisitions, repay debt, repurchase shares and make investments in the business. In addition, free cash flow is used as criterion to measure and pay annual incentive compensation.

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nVent Electric plc
Reconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ended December 31, 2024
excluding the effect of adjustments (Unaudited)

In millions, except per-share data	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Net sales	$	732.1		$	739.8		$	782.0		$	752.2		$	3,006.1
Operating income	131.9			144.9			133.2			117.1			527.1
Return on sales	18.0		%	19.6		%	17.0		%	15.6		%	17.5		%
Adjustments:
Restructuring and other	1.1			2.0			2.8			1.6			7.5
Acquisition transaction and integration costs	2.5			3.0			5.6			2.8			13.9
Intangible amortization	20.4			19.5			26.8			28.0			94.7


Impairment of equity investments	—			—			—			8.8			8.8

Adjusted operating income (non-GAAP measure)	$	155.9		$	169.4		$	168.4		$	158.3		$	652.0
Adjusted return on sales (non-GAAP measure)	21.3		%	22.9		%	21.5		%	21.0		%	21.7		%

Net income from continuing operations	$	85.2		$	93.2		$	78.9		$	(16.5)		$	240.8
Adjustments to operating income	24.0			24.5			35.2			41.2			124.9
Pension and post-retirement mark-to-market gain	—			—			—			(0.1)			(0.1)

Release of guarantee liability	—			—			—			(12.5)			(12.5)
Amortization of bridge financing debt issuance costs	—			2.2			—			—			2.2

Income tax adjustments (1)	(7.2)			(6.9)			(8.8)			86.2			63.3
Adjusted net income from continuing operations (non-GAAP measure)	$	102.0		$	113.0		$	105.3		$	98.3		$	418.6
Earnings per ordinary share - diluted
Diluted earnings (loss) per ordinary share from continuing operations	$	0.51		$	0.55		$	0.47		$	(0.10)		$	1.43
Adjustments	0.10			0.12			0.16			0.69			1.06
Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure)	$	0.61		$	0.67		$	0.63		$	0.59		$	2.49

(1) Income tax adjustments in the fourth quarter include $92.8 million resulting from the recording of a valuation allowance related to the tax benefit of statutory losses at a foreign holding company.

(more)


nVent Electric plc
Reconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ended December 31, 2023
excluding the effect of 2023 adjustments (Unaudited)

In millions, except per-share data	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Net sales	$	596.7		$	666.7		$	715.0		$	690.5		$	2,668.9
Operating income	97.7			121.3			126.2			117.5			462.7
Return on sales	16.4		%	18.2		%	17.7		%	17.0		%	17.3		%
Adjustments:
Restructuring and other	1.1			0.7			0.8			1.3			3.9
Acquisition transaction and integration costs	2.3			4.9			3.0			2.6			12.8
Intangible amortization	12.6			16.1			20.5			20.3			69.5
Inventory step-up amortization	—			5.9			11.8			—			17.7



Adjusted operating income (non-GAAP measure)	$	113.7		$	148.9		$	162.3		$	141.7		$	566.6
Adjusted return on sales (non-GAAP measure)	19.1		%	22.3		%	22.7		%	20.5		%	21.2		%

Net income from continuing operations	$	73.2		$	92.2		$	81.9		$	212.4		$	459.7
Adjustments to operating income	16.0			27.6			36.1			24.2			103.9
Pension and post-retirement mark-to-market loss	—			—			—			13.4			13.4
Gain on sale of investment	—			(10.2)			—			(0.1)			(10.3)
Amortization of bridge financing debt issuance costs	—			3.6			—			—			3.6

Income tax adjustments (1)	(3.9)			(10.1)			(8.9)			(156.5)			(179.4)
Adjusted net income from continuing operations (non-GAAP measure)	$	85.3		$	103.1		$	109.1		$	93.4		$	390.9
Earnings per ordinary share - diluted
Diluted earnings per ordinary share from continuing operations	$	0.44		$	0.55		$	0.49		$	1.26		$	2.73
Adjustments	0.07			0.06			0.16			(0.71)			(0.41)
Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure)	$	0.51		$	0.61		$	0.65		$	0.55		$	2.32

(1) Income tax adjustments in the fourth quarter include $154.2 million resulting from favorable discrete items, primarily related to the initial recognition of tax basis in intangible assets in foreign jurisdictions and the related valuation allowance, and the tax benefit of statutory losses at a foreign holding company.

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nVent Electric plc
Reconciliation of GAAP to non-GAAP financial measures for continuing operations for the year ending December 31, 2025
excluding the effect of 2025 adjustments (Unaudited)

In millions, except per-share data	Forecast (1)
	First Quarter		Full Year
Net income from continuing operations	$	88	$	415
Intangible amortization	28		113
Income tax adjustments	(6)		(25)
Adjusted net income from continuing operations (non-GAAP measure)	$	110	$	503
Diluted earnings per ordinary share from continuing operations
Diluted earnings per ordinary share from continuing operations	$0.52 - $0.54		$2.45 - $2.55
Adjustments	0.13		0.53
Adjusted diluted earnings per ordinary share from continuing operations (non-GAAP measure)	$0.65 - $0.67		$2.98 - $3.08
(1) Forecast information represents an approximation


nVent Electric plc
Reconciliation of Net Sales Growth to Organic Net Sales Growth by Segment
for the quarter and year ended December 31, 2024 (Unaudited)

	Q4 Net Sales Growth								Full Year Net Sales Growth
	Organic		Currency		Acq./Div.		Total		Organic		Currency		Acq./Div.		Total
nVent	(0.5)	%	(0.2)	%	9.6	%	8.9	%	2.4	%	(0.1)	%	10.3	%	12.6	%
Enclosures	(0.7)	%	(0.1)	%	16.5	%	15.7	%	5.0	%	(0.1)	%	8.6	%	13.5	%
Electrical & Fastening Solutions	(0.3)	%	(0.3)	%	—	%	(0.6)	%	(1.5)	%	—	%	12.8	%	11.3	%


nVent Electric plc
Reconciliation of Net Sales Growth (non-GAAP measure) to Organic Net Sales Growth (non-GAAP measure)
for continuing operations for the quarter ending March 31, 2025 and the year ending December 31, 2025 (Unaudited)

	Forecast (1)
	Q1 Net Sales Growth						Full Year Net Sales Growth
	Organic	Currency		Acq./Div.		Total	Organic	Currency		Acq./Div.		Total
nVent	0 - 2 %	(1)	%	8	%	7 - 9 %	4 - 6 %	(1)	%	5	%	8 - 10 %



(1) Forecast information represents an approximation


nVent Electric plc
Reconciliation of cash from operating activities to free cash flow (Unaudited)

	Three months ended				Twelve months ended
In millions	December 31, 2024		December 31, 2023		December 31, 2024		December 31, 2023

Net cash provided by (used for) operating activities of continuing operations	$	176.9	$	189.7	$	501.0	$	422.2
Capital expenditures	(26.5)		(20.8)		(74.0)		(65.6)
Proceeds from sale of property and equipment	—		0.1		0.5		0.1
Free cash flow (non-GAAP measure)	$	150.4	$	169.0	$	427.5	$	356.7
Net cash provided by (used for) operating activities of discontinued operations	47.7		46.8		142.1		105.9
Capital expenditures of discontinued operations	(2.2)		(1.3)		(7.8)		(5.4)
Proceeds from sale of property and equipment of discontinued operations	0.2		0.1		0.2		7.4
Total free cash flow (non-GAAP measure)	$	196.1	$	214.6	$	562.0	$	464.6



Ireland	001-38265	98-1391970
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)


Title of each class	Trading symbol (s)	Name of each exchange on which registered
Ordinary Shares, nominal value $0.01 per share	NVT	New York Stock Exchange


(a)			Financial Statements of Businesses or Funds Acquired
			Not applicable.
(b)			Pro Forma Financial Information
			Not applicable.
(c)			Shell Company Transactions
			Not applicable.
(d)			Exhibits




			nVent Electric plc
			Registrant

			By			/s/ Sara E. Zawoyski
						Sara E. Zawoyski
						Executive Vice President and Chief Financial Officer


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Exhibit						Description
99.1						nVent Electric plc press release dated February 6, 2025 announcing earnings results for the fourth quarter and full year of 2024

104						Cover Page Interactive Data File (embedded within the Inline XBRL document)