NVent Electric Q3 Profit Down, But Sales Rise

(RTTNews) - nVent Electric plc (NVT), a provider of electrical connection and protection solutions, Friday reported net income from continuing operations of $78.9 million or $0.47 per share, lower than $81.9 million or $0.49 per share in comparable quarter last year.

Excluding one-time items, earnings from continuing operations were $105.3 million or $0.63 per share. Operating income was $133.2 million, up from $126.2 million a year ago. Adjusted operating income grew to $168.4 million from $162.3 million.

Sales for the quarter increased 9 percent to $782 million from $715 million in the previous year.

For the fourth quarter, nVent expects EPS of $0.45 to $0.47, and adjusted EPS of $0.58 to $0.60. Sales are expected to grow between 11 percent and 13 percent.

For the full year, the company now expects adjusted EPS of $2.49 - $2.51 compared with the previous outlook of $2.47 - $2.53. It sees sales to grow nearly 13 percent for the year.