nVent Electric (NVT) Q3 2026 earnings summary

Executive summary

• Q3 sales were $1,514.9M, up 43.7% reported and 44% organically; adjusted EPS was $1.52, up 67% and ahead of guidance.

• Orders grew at a low-double-digit rate and backlog rose sequentially to $2.6B; growth was broad-based across verticals and geographies, led by infrastructure.

• Full-year sales and adjusted EPS guidance increased, reflecting Q3 performance, demand momentum and the Maverick Power acquisition.

Financial highlights

• Q3 adjusted operating income rose 57% to $335.4M; adjusted return on sales was 22.1%, up 190 bps YoY.

• Adjusted EPS increased 67% to $1.52; free cash flow was $267.9M, up 6%.

• Continuing-operations net income rose 70.1% to $202.4M; diluted continuing-operations EPS was $1.23 versus $0.73.

• Gross margin was 35.8% versus 37.4% YoY, while SG&A declined to 15.6% of sales from 19.7%.

• Price and productivity offset nearly $60M of inflation, including ~ $20M in tariff impact; adjusted tax rate was 22.2%.

Outlook and guidance

• FY 2026 reported sales growth guidance rose to 48%-49% from 37%-39%; organic growth guidance increased to 38%-39% from 32%-34%.

• FY adjusted EPS guidance increased to $5.36-$5.39 from $5.00-$5.10; GAAP EPS guidance rose to $4.54-$4.57 from $4.29-$4.39.

• Q4 reported sales growth is forecast at 45%-48%, including 26%-29% organic growth; adjusted EPS is forecast at $1.30-$1.33 and GAAP EPS at $1.13-$1.16.

• FY assumptions include acquisitions adding ~10 points to sales growth, adjusted net interest expense of ~$88M, a ~22% tax rate and ~164M diluted shares.

• Infrastructure is expected to deliver record double-digit organic growth in 2026 and strong growth in 2027; industrial and commercial/residential each forecast high-single-digit organic growth in 2026.