nVent Electric reports Q4 adjusted EPS 66c, consensus 58c

Reports Q4 revenue $742M, consensus $710.84M. "2022 was an outstanding year for nVent. Q4 sales grew double-digits with broad-based growth across all segments and verticals. For the full year, we had impressive growth and strong execution resulting in record sales of $2.9B, margin expansion and robust cash flow," said CEO Beth Wozniak. "I’m very proud of what our team accomplished in 2022 as we continued to execute on our growth strategy. We launched 59 new products, focused on high-growth verticals, advanced our digital transformation, and our acquisition sales growth exceeded overall nVent growth. The electrification of everything, sustainability, and digitalization are driving demand for our products and solutions. Our portfolio today is stronger and well positioned for sales growth and margin expansion in 2023. Our future is bright at nVent."