NVT NYSE Russell 1000 Earnings call
nVent Electric (NVT) · Q2 2026 results and valuation
Share price: $116.73 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 31 Jul 2026 and 1 May 2026
Net income up 51.6% on the previous quarter. Management sounded very upbeat, though noticeably less so answering analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+51.6%
Net income vs Q1 2026
Outlook given
Net income 215.9M vs 142.4M
Revenue +18.5%
Against the same quarter last year (Q2 2025) it is +97.2%, so it is not just seasonal.
2 · How management spoke
Very upbeat
Among the most upbeat of all company calls
Answers to analysts: upbeat, but clearly less so than the script.
Similar to last call.
3 · What stood out
nVent Electric increased its reported sales growth forecast to between 37% and 39%, up from the previously forecasted 26% to 28%.
Valuation
Is nVent Electric undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 19.3% growth a year (3-year revenue growth), the model's fair value is $99.10 a share — the stock trades 18% above it. Today's price assumes 21.4% growth a year.
Current price
$116.73
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+21.4% for 10 yrs
Fair value / share
$99.10
Buy below
$74.32
Price vs fair value
Overvalued 18%
Price vs buy-below price
Overvalued 57%
Management expects
Sales +38% · from the Q2 2026 report: “NVT updated its reported sales growth forecast from 26% to 28% up to 37% to 39% for the period.”
A guidance figure for sales, usually one year ahead, not a 10-year free-cash-flow rate.
Read between the lines
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Guidance
NVT updated its reported sales growth forecast from 26% to 28% up to 37% to 39% for the period.
Source quote
“We now forecast reported sales growth of 37% to 39%, up from 26% to 28% previously.”
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Guidance
NVent Electric expects adjusted EPS to be between $1.35 and $1.38 which at the midpoint reflects 50% growth compared to last year.
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Figure
The company achieved its fourth consecutive quarter with sales of more than $1 billion.
Source quote
“This was our fourth consecutive quarter with sales of more than $1 billion.”
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Fading
Adjusted EPS grew 63% and free cash flow grew 21% year-over-year, while sales increased across all key verticals.
Source quote
“Adjusted EPS grew 63% and free cash flow grew 21% year-over-year. Adjusted operating income grew 53% year-over-year with return on sales of 20%. Looking at our key verticals, sales grew across all verticals.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Management sounded noticeably less positive answering analysts than in its prepared script — one of the biggest drops of any company call. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.
Sentences that drove the tone
“And that starts with reinvesting in the business by funding capacity expansion, innovation, and the capabilities required to win in high growth verticals.”
“We had record earnings well ahead of the high end of our guidance driven by exceptional sales growth and execution by the team.”
“Infrastructure led the way with organic sales more than doubling driven by outstanding growth in data centers and double digit growth in Power Utilities.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 1.47B | 1.24B | +18.5% | 963.1M | +52.8% |
| Gross profit | 558.0M | 445.6M | +25.2% | 371.8M | +50.1% |
| Operating income | 300.7M | 195.7M | +53.7% | 156.7M | +91.9% |
| Net income | 215.9M | 142.4M | +51.6% | 109.5M | +97.2% |
| EPS | 1.32 | 0.87 | +51.7% | 0.67 | +97.0% |
| P/E today 45.8 | 46.5 | 39.2 | +7.3 | 20.8 | +25.7 |
Topics
Most discussed now
- NVent Electric has had strong data center orders Thus far in Q3.
- NVent Electric's data center business grew across the portfolio.
- Organic orders growth was broad based, up low-double digits.
- As nVent Electric has previously discussed, data center orders tend to be large and lumpy impacting growth rates quarter to quarter.
- NVent Electric had record earnings well ahead of the high end of its guidance driven by exceptional sales growth and execution...
Faded since Q1 2026
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- Fading The tremendous growth in data centers was accomplished by nVent Electric's team working tirelessly to increase and expand capacity in its...
Latest announcements
Official filings, newest first.
- New financial obligation; Other events · SEC 8-K
- New financial obligation · SEC 8-K
- Other events · SEC 8-K
- Other events · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Shareholder vote results · SEC 8-K