nVent Electric rises on prelim Q1 results above estimates

nVent Electric

19/04/2023 14:17

** Shares of electrical connection and protection solutions
maker nVent Electric PLC  NVT.N  rise 2.6% to $43.89 premarket
    ** Expects  Q1 reported sales of ~$741 mln, up ~7% from last
year's reported numbers and above analysts' estimates of $729.4
mln, according to Refinitiv data
    ** Sees Q1 adj profit per share of $0.66 to $0.67, above
estimates of $0.58 per share
    ** NVT had previously forecast Q1 adj profit between $0.56
and $0.58 per share and reported sales growth of 3%-5%
    ** Up to last close, stock had risen 11.2% this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))