nVent Shares Down to End the Week After 3Q Earnings Miss, Outlook Cut

Dow Jones

2024/11/02

By Kailyn Rhone

Shares of nVent Electric declined after the company reported earnings that missed analysts' expectations and cut its outlook for the year.

The stock closed down 8.4% at $68.28 on Friday. For the week shares were down 6.9%, but remain up 16% on the year.

The London based company before the market open reported third-quarter revenue rose 9% to $782 million from $715 million a year ago. That fell short of the $937.4 million expected by analysts, according to FactSet.

nVent reported a profit of 62 cents per share, down from 63 cents per share a year earlier. That missed the company's guidance of 69 cents to 71 cents per share, and was below the 70 cents that was forecast by analysts surveyed by, FactSet.

The manufacturer of electrical connection and protection products also cut its earnings per share outlook for the year. to $1.99 to $2.01, from its previous expectation of $2.69 to $2.75 per share.

Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

November 01, 2024 16:50 ET (20:50 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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For the week shares were down 6.9%, but remain up 16% on the year. \n</p>\n<p>\n  The London based company before the market open reported third-quarter revenue rose 9% to $782 million from $715 million a year ago. That fell short of the $937.4 million expected by analysts, according to FactSet. \n</p>\n<p>\n  nVent reported a profit of 62 cents per share, down from 63 cents per share a year earlier. That missed the company's guidance of 69 cents to 71 cents per share, and was below the 70 cents that was forecast by analysts surveyed by, FactSet. \n</p>\n<p>\n  The manufacturer of electrical connection and protection products also cut its earnings per share outlook for the year.  to $1.99 to $2.01, from its previous expectation of $2.69 to $2.75 per share. \n</p>\n<p>\n  Write to Kailyn Rhone at kailyn.rhone@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 01, 2024 16:50 ET (20:50 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVT","symbol_name":"nVent Electric plc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2480885073","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480885073","pubTimestamp":1730494200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of nVent Electric declined after the company reported earnings that missed analysts' expectations and cut its outlook for the year.The stock closed down 8.4% at $68.28 on Friday. For the week shares were down 6.9%, but remain up 16% on the year.nVent reported a profit of 62 cents per share, down from 63 cents per share a year earlier. That missed the company's guidance of 69 cents to 71 cents per share, and was below the 70 cents that was forecast by analysts surveyed by, FactSet.The manufacturer of electrical connection and protection products also cut its earnings per share outlook for the year.  to $1.99 to $2.01, from its previous expectation of $2.69 to $2.75 per share.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"NVT":"nVent Electric plc"},"translate_title":"第三季度盈利未达预期、前景下调后，nVent股价本周结束下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVT":0.9},"content_text":"By Kailyn Rhone \n\n\n  Shares of nVent Electric declined after the company reported earnings that missed analysts' expectations and cut its outlook for the year. \n\n\n  The stock closed down 8.4% at $68.28 on Friday. For the week shares were down 6.9%, but remain up 16% on the year. \n\n\n  The London based company before the market open reported third-quarter revenue rose 9% to $782 million from $715 million a year ago. That fell short of the $937.4 million expected by analysts, according to FactSet. \n\n\n  nVent reported a profit of 62 cents per share, down from 63 cents per share a year earlier. That missed the company's guidance of 69 cents to 71 cents per share, and was below the 70 cents that was forecast by analysts surveyed by, FactSet. \n\n\n  The manufacturer of electrical connection and protection products also cut its earnings per share outlook for the year.  to $1.99 to $2.01, from its previous expectation of $2.69 to $2.75 per share. \n\n\n  Write to Kailyn Rhone at kailyn.rhone@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 01, 2024 16:50 ET (20:50 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}