nVent raises 2026 outlook after 44% Q3 revenue growth
Electrical infrastructure demand drove a strong quarter, while free-cash-flow growth was more measured than earnings growth.
nVent reported $1.515 billion in third-quarter 2026 revenue, up 44% year over year, while adjusted EPS rose 67% to $1.52. The results came as demand for electrical connection and protection equipment remained strong across the company’s end markets.
The quarter also exceeded late-October analyst expectations of roughly $1.43–$1.44 billion in revenue and $1.39–$1.40 in adjusted EPS, according to published consensus previews. The reported revenue beat was about 5%, while adjusted EPS was roughly 9% above the midpoint of those estimates.
Free cash flow was $267.9 million, compared with $253.2 million a year earlier, a more modest increase than the earnings growth. nVent did not issue a new full-year free-cash-flow target in the release, so the higher profit outlook should not be read as a directly equivalent cash-flow forecast.
For the fourth quarter, management guided to reported revenue growth of 45%–48%, organic growth of 26%–29%, and adjusted EPS of $1.30–$1.33. The sequential outlook implies a lower EPS range than the third quarter, making execution against the raised full-year target the key near-term measure.
Sources
Quarterly revenue, nVent Electric
Margins by quarter
Twelve quarters of figures
| Quarter | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $715M | $691M | $732M | $740M | $782M | $752M | $809M | $963M | $1.1B | $1.1B | $1.2B | $1.5B |
| Revenue growth | −4.1% | 440.7% | −1.2% | −7.9% | 9.4% | 8.9% | 10.6% | 30.2% | 34.8% | 41.8% | 53.5% | 52.8% |
| Gross margin | 40.4% | 40.0% | 39.7% | 41.6% | 39.8% | 39.8% | 38.8% | 38.6% | 37.5% | 36.5% | 35.9% | 37.9% |
| Operating margin | 17.7% | 17.0% | 18.0% | 19.6% | 17.0% | 15.6% | 16.1% | 16.3% | 15.8% | 15.4% | 15.8% | 20.4% |
| Net income | $106M | $255M | $105M | $111M | $105M | $10.7M | $361M | $110M | $121M | $119M | $142M | $216M |
| Diluted EPS | $0.63 | $1.51 | $0.62 | $0.66 | $0.62 | $0.06 | $2.16 | $0.67 | $0.74 | $0.72 | $0.87 | $1.32 |
| Cash from operations | $145M | $237M | $90.0M | $131M | $198M | $225M | $60.2M | −$16.9M | $220M | $202M | $85.2M | $184M |
| Capital expenditure | $12.5M | $20.8M | $15.3M | $16.5M | $15.7M | $26.5M | $21.1M | $16.9M | $18.6M | $36.7M | $36.1M | $21.5M |
| Free cash flow | $133M | $216M | $74.7M | $114M | $182M | $198M | $39.1M | −$33.8M | $201M | $166M | $49.1M | $162M |
| Dividends and buybacks | $29.1M | $74.8M | $31.9M | $31.7M | $132M | $31.5M | $86.5M | $232M | $32.3M | $32.4M | $84.6M | $34.0M |
This story describes figures the company has published. It is for information only and is not investment advice or a recommendation to buy, sell or hold any security. Check the original filings before relying on any figure. Stoqly is not affiliated with the SEC or nVent Electric.
