nVent Electric (NVT) Goldman Sachs Industrials and Materials Conference 2025 summary

Business Overview and Portfolio Transformation

• Achieved 25% net sales growth and nearly 30% EPS growth in the first three quarters, with free cash flow up 34%.

• Portfolio shifted from 12% to over 40% infrastructure, now nearly $4B in annual revenue.

• Eight acquisitions and one divestiture since 2017, focusing on growth, new products, and global expansion.

• Over 80% of revenue is from the Americas, with a strong presence in Europe.

• Divestiture of the Thermal Management business completed in January 2025, with results now reported as discontinued operations.

Liquid Cooling and Technology Leadership

• Launched 14 new liquid cooling products, expanding capacity by 8x and doubling manufacturing space.

• Recognized by NVIDIA as a solution advisor, with strong demand for new row-based CDU products.

• Liquid cooling penetration is still in single digits, expected to reach mid-20s in the next few years.

• Expanded liquid cooling portfolio for data centers, with record orders and backlog and new facility investment.

• Partnerships, such as with Siemens, are expanding holistic offerings for data centers.

Financial Performance and Outlook

• 2025 YTD net sales reached $2.8B, with adjusted EPS at $2.45 and free cash flow of $372M through September 30, 2025.

• Adjusted operating income margin for 2025 forecasted at 20.2%, with full-year adjusted EPS guidance of $3.31–$3.33.

• Organic net sales growth for Q3 2025 was 17.8%, with full-year organic growth expected at 16%.

• Q3 orders grew 65% organically, with sustained double-digit order growth over four quarters.

• Capital allocation includes $250M in buybacks, M&A, and maintaining leverage below target.