nVent Electric NVT
nVent Electric reports $1.51 billion revenue for Q3 2026
- Form
- 10-Q
- Filed
- Importance
- Notable
- Accession
- 0001628280-26-068596
- Revenue: $1.51 billion for the three months ended Sep 30, 2026
- Net income: $202.4 million for the three months ended Sep 30, 2026
- Diluted EPS: $1.23 for the three months ended Sep 30, 2026
- Cash and equivalents: $1.12 billion at Sep 30, 2026
Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.
What changed
7 changes since the June 2026 10-Q
Compared with the 10-Q 0001628280-26-051428, filed Jul 31, 2026.
We could be subject to new risks, known and unknown, relating to the Maverick Power acquisition.
We may experience risks, losses and damages associated with the Maverick Power acquisition.
From the filings
Now
We could be subject to new risks, known and unknown, relating to the Maverick Power acquisition. We may experience risks, losses and damages associated with the Maverick Power acquisition. The risks we could face include the following: • the Maverick Power acquisition may lead to the incurrence of costs to review, upgrade and integrate Maverick Power's systems with our compliance and reporting systems, including our systems of internal control over financial reporting. The process of integrating Maverick Power into our internal control over financial reporting could require significant time and effort from our management and other personnel and could increase our compliance costs; and • the Maverick Power acquisition involves the inherent risk of liabilities, and these liabilities may prove more costly or produce more adverse effects than we anticipate, such as actual or potential litigation and regulatory matters. In addition, in the course of the due diligence review of Maverick Power, we may not have discovered, or may have been unable to quantify, undisclosed liabilities of Maverick Power, and we may not be indemnified or have insurance for any of these liabilities. Any such liabilities could have an adverse effect on our business, results of operations, financial condition and cash flows. Any of these risks associated with the Maverick Power acquisition could have a material adverse impact on our business, results of operations and financial condition.Increased leverage may harm our financial condition and results of operations.
As of September 30, 2026, we had $2.2 billion of total debt on a consolidated basis.
From the filings
Now
Increased leverage may harm our financial condition and results of operations. As of September 30, 2026, we had $2.2 billion of total debt on a consolidated basis. On October 1, 2026, our indebtedness increased materially in connection with the Maverick Power acquisition. We funded the Maverick Power acquisition with borrowings under the 2026 Term Loan Facility and net proceeds from the issuance of the 2036 Notes, together with cash on hand and borrowings from our Revolving Credit Facility, for an aggregate amount of approximately $1.65 billion of new indebtedness incurred in connection with the Maverick Power acquisition. We and our subsidiaries may incur additional indebtedness in the future. This increase and any future increases in our level of indebtedness will have several important effects on our future operations, including, without limitation: • we will have additional cash requirements to support the payment of interest on our outstanding indebtedness; • increases in our outstanding indebtedness and leverage may increase our vulnerability to adverse changes in general economic and industry conditions, as well as to competitive pressure; • our ability to obtain additional financing for working capital, capital expenditures, general corporate and other purposes may be reduced; • our flexibility in planning for, or reacting to, changes in our business and our industry may be reduced; and• our flexibility to make acquisitions and develop technology may be limited.
Our ability to make payments of principal and interest on our indebtedness depends upon our future performance, which will be subject to general economic conditions and financial, business and other factors affecting…
From the filings
Now
• our flexibility to make acquisitions and develop technology may be limited. Our ability to make payments of principal and interest on our indebtedness depends upon our future performance, which will be subject to general economic conditions and financial, business and other factors affecting our consolidated operations, many of which are beyond our control. If we are unable to generate sufficient cash flow from operations in the future to service our debt and meet our other cash requirements, we may be required, among other things: Such measures might not be sufficient to enable us to service our debt and meet our other cash requirements. In addition, any such financing, refinancing or sale of assets might not be available at all or on economically favorable terms.We may not realize the anticipated benefits of the Maverick Power acquisition and any benefit may take…
There are uncertainties inherent in the integration of Maverick Power's operations with our existing operations.
From the filings
Now
We may not realize the anticipated benefits of the Maverick Power acquisition and any benefit may take longer to realize than we expect. There are uncertainties inherent in the integration of Maverick Power's operations with our existing operations. Integration may divert management attention and resources, and delays or unexpected difficulties in the integration process could adversely affect our business, financial results and financial condition. Even if we are able to integrate Maverick Power's operations successfully, this integration may not result in the realization of the full benefits or operational efficiencies that we expect or the achievement of these benefits within a reasonable period of time or at all.Cash up 338% from Jun 30
$1.1B, was $256M.
From the filings
Before
$256MNow
$1.1BEPS down 6.8% from Jun 30
$1.23, was $1.32.
From the filings
Before
$1.32Now
$1.23Net income down 6.3% from Jun 30
$202M, was $216M.
From the filings
Before
$216MNow
$202M
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Section by section. Added words and removed words against the earlier filing.
Cover page 2 changes
3 unchanged paragraphs
For the Quarterly Period Ended June September 30, 2026
15 unchanged paragraphs
On June September 30, 2026, 161,857,939 161,598,060 shares of the registrant's common stock were outstanding.
1 unchanged paragraph
Financial statements 142 changes
1 unchanged paragraph
Net sales $ 1,471.3 $ 963.1 $ 2,713.3 $ 1,772.4
Cost of goods sold 913.3 591.3 1,709.7 1,086.9
Gross profit 558.0 371.8 1,003.6 685.5
Selling, general and administrative 232.8 196.0 460.0 362.2
Research and development 24.5 19.1 47.2 36.6
Operating income 300.7 156.7 496.4 286.7
Net interest expense 17.4 17.6 34.9 35.0
Income from continuing operations before income taxes 282.0 138.0 458.9 249.5
Provision for income taxes 66.2 31.3 102.7 55.8
Net income from continuing operations 215.8 106.7 356.2 193.7
Net income $ 215.9 $ 109.5 $ 358.3 $ 470.2
Three months ended Six Nine months ended
In millions, except per share data June September 30,
Net sales $ 1,514.9 $ 1,054.0 $ 4,228.2 $ 2,826.4
Cost of goods sold 972.0 659.3 2,681.7 1,746.2
Gross profit 542.9 394.7 1,546.5 1,080.2
Selling, general and administrative 236.3 207.8 696.3 570.0
Research and development 24.3 20.6 71.5 57.2
Operating income 282.3 166.3 778.7 453.0
Net interest expense 21.0 20.9 55.9 55.9
Income from continuing operations before income taxes 260.1 144.2 719.0 393.7
Provision for income taxes 57.7 25.2 160.4 81.0
Net income from continuing operations 202.4 119.0 558.6 312.7
Income from discontinued operations, net of tax (Note 6) 0.1 2.8 — 2.2 2.1 276.5 278.7
Net income $ 202.4 $ 121.2 $ 560.7 $ 591.4
1 unchanged paragraph
Net income $ 215.9 $ 109.5 $ 358.3 $ 470.2
Comprehensive income $ 216.1 $ 119.9 $ 361.7 $ 580.1
Net income $ 202.4 $ 121.2 $ 560.7 $ 591.4
Changes in cumulative translation adjustment (six (nine months ended June September 30, 2025 includes $ 92.7 million reclassified to gain on sale included in Income from discontinued operations, net of tax )
Changes in market value of derivative financial instruments, net of tax ( 1.2 ) ( 12.2 ) 2.4 ( 15.7 )
Comprehensive income $ 200.6 $ 122.4 $ 562.3 $ 702.5
1 unchanged paragraph
Continuing operations $ 1.33 $ 0.66 $ 2.20 $ 1.19
Basic earnings per ordinary share $ 1.33 $ 0.68 $ 2.21 $ 2.88
Continuing operations $ 1.32 $ 0.65 $ 2.17 $ 1.17
Diluted earnings per ordinary share $ 1.32 $ 0.67 $ 2.18 $ 2.84
Continuing operations $ 1.25 $ 0.74 $ 3.45 $ 1.92
Discontinued operations — 0.02 0.01 1.69 0.01 1.71
Basic earnings per ordinary share $ 1.25 $ 0.75 $ 3.46 $ 3.63
Continuing operations $ 1.23 $ 0.73 $ 3.41 $ 1.90
Discontinued operations — 0.02 0.01 1.67 0.01 1.69
Diluted earnings per ordinary share $ 1.23 $ 0.74 $ 3.42 $ 3.59
1 unchanged paragraph
Basic 161.8 161.7 161.8 163.4
Diluted 164.1 163.6 164.1 165.4
Basic 161.7 161.2 161.7 162.7
Diluted 164.0 163.6 164.0 164.8
Cash dividends paid per ordinary share $ 0.21 $ 0.20 $ 0.42 0.63 $ 0.40 0.60
3 unchanged paragraphs
Inventories 522.4 471.9
Total assets $ 7,146.3 $ 6,851.9
Cash and cash equivalents $ 256.0 1,121.8 $ 237.5
Accounts and notes receivable, net of allowances of $ 16.7 18.4 and $ 13.7 , respectively
Inventories 573.8 471.9
Other current assets 256.5 312.4 237.2
Total current assets 2,004.2 2,956.5 1,639.6
Property, plant and equipment, net 447.9 466.3 434.5
Goodwill 2,676.3 2,676.1 2,678.0
Intangibles, net 1,793.3 1,757.1 1,876.5
Other non-current assets 224.6 246.7 223.3
Total other assets 4,694.2 4,679.9 4,777.8
Total assets $ 8,102.7 $ 6,851.9
2 unchanged paragraphs
Accounts payable 496.0 358.9
Accounts payable 535.6 358.9
Employee compensation and benefits 131.1 162.6 156.6
Other current liabilities 472.5 522.3 474.2
Total current liabilities 1,113.4 1,234.3 1,003.5
Long-term debt 1,478.6 2,167.6 1,546.0
1 unchanged paragraph
Retained earnings 1,977.7 1,687.5
Total equity 3,986.9 3,730.2
Deferred tax liabilities 232.0 231.3 232.0
Other non-current liabilities 202.1 223.7 204.6
Total liabilities 3,159.4 3,990.2 3,121.7
Ordinary shares $ 0.01 par value, 400.0 million authorized, 161.9 161.6 million and 161.7 million issued at June September 30, 2026 and December 31, 2025, respectively
Additional paid-in capital 2,035.4 1,994.5 2,072.3
Retained earnings 2,146.0 1,687.5
Accumulated other comprehensive loss ( 27.8 29.6 ) ( 31.2 )
Total equity 4,112.5 3,730.2
Total liabilities and equity $ 7,146.3 8,102.7 $ 6,851.9
2 unchanged paragraphs
In millions June 30,
In millions September 30,
1 unchanged paragraph
Net income $ 358.3 $ 470.2
Net income $ 560.7 $ 591.4
1 unchanged paragraph
1 unchanged paragraph
1 unchanged paragraph
1 unchanged paragraph
3 unchanged paragraphs
21 unchanged paragraphs
19 unchanged paragraphs
1 unchanged paragraph
and 62 more changes in the filing
Note 2: Revenue 37 changes
3 unchanged paragraphs
Three months ended June September 30, 2026
1 unchanged paragraph
Americas $ 917.0 $ 340.0 $ 1,257.0
Asia-Pacific 43.9 15.7 59.6
Total $ 1,072.1 $ 399.2 $ 1,471.3
Six months ended June 30, 2026
Americas $ 934.8 $ 358.1 $ 1,292.9
Europe, the Middle East and Africa ("EMEA") 111.2 43.5 154.7 117.6 42.6 160.2
Asia-Pacific 45.6 16.2 61.8
Total $ 1,098.0 $ 416.9 $ 1,514.9
Nine months ended September 30, 2026
1 unchanged paragraph
Americas $ 1,672.6 $ 634.6 $ 2,307.2
EMEA 220.6 84.4 305.0
Asia-Pacific 73.7 27.4 101.1
Total $ 1,966.9 $ 746.4 $ 2,713.3
Americas $ 2,607.4 $ 992.7 $ 3,600.1
EMEA 338.2 127.0 465.2
Asia-Pacific 119.3 43.6 162.9
Total $ 3,064.9 $ 1,163.3 $ 4,228.2
Three months ended June September 30, 2025
1 unchanged paragraph
Americas $ 495.5 $ 282.4 $ 777.9
EMEA 104.2 37.7 141.9
Asia-Pacific 32.3 11.0 43.3
Total $ 632.0 $ 331.1 $ 963.1
Six months ended June 30, 2025
Americas $ 574.2 $ 290.6 $ 864.8
EMEA 107.8 37.4 145.2
Asia-Pacific 33.6 10.4 44.0
Total $ 715.6 $ 338.4 $ 1,054.0
Nine months ended September 30, 2025
1 unchanged paragraph
Americas $ 874.4 $ 537.4 $ 1,411.8
EMEA 200.3 73.6 273.9
Asia-Pacific 65.5 21.2 86.7
Total $ 1,140.2 $ 632.2 $ 1,772.4
Americas $ 1,448.6 $ 828.0 $ 2,276.6
EMEA 308.1 111.0 419.1
Asia-Pacific 99.1 31.6 130.7
Total $ 1,855.8 $ 970.6 $ 2,826.4
Note 3: Restructuring 28 changes
During the six nine months ended June September 30, 2026 and the year ended December 31, 2025, we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business.
1 unchanged paragraph
In millions June 30,
Severance and related costs $ 0.6 $ 1.5 $ 2.9 $ 2.2
Other 0.7 1.6 1.4 1.8
Total restructuring costs $ 1.3 $ 3.1 $ 4.3 $ 4.0
Three months ended Six Nine months ended
In millions September 30,
Severance and related costs $ 1.1 $ 1.8 $ 4.0 $ 4.0
Other 0.6 0.9 2.0 2.7
Total restructuring costs $ 1.7 $ 2.7 $ 6.0 $ 6.7
2 unchanged paragraphs
In millions June 30,
Electrical Connections 0.2 0.5 1.2 0.8
Enterprise and other 0.2 2.3 0.8 2.6
Total $ 1.3 $ 3.1 $ 4.3 $ 4.0
Three months ended Six Nine months ended
In millions September 30,
Systems Protection $ 0.9 $ 0.3 0.4 $ 2.3 3.2 $ 0.6 1.0
Electrical Connections 0.3 2.1 1.5 2.9
Enterprise and other 0.5 0.2 1.3 2.8
Total $ 1.7 $ 2.7 $ 6.0 $ 6.7
1 unchanged paragraph
In millions June 30,
In millions September 30,
1 unchanged paragraph
Costs incurred 2.9 2.2
Cash payments and other ( 3.5 ) ( 2.2 )
Ending balance $ 2.2 $ 1.8
Costs incurred 4.0 4.0
Cash payments and other ( 5.1 ) ( 3.0 )
Ending balance $ 1.7 $ 2.8
Note 4: Earnings Per Share 23 changes
1 unchanged paragraph
Net income from continuing operations $ 215.8 $ 106.7 $ 356.2 $ 193.7
Net income $ 215.9 $ 109.5 $ 358.3 $ 470.2
Three months ended Six Nine months ended
In millions, except per share data June September 30,
Net income from continuing operations $ 202.4 $ 119.0 $ 558.6 $ 312.7
Income from discontinued operations, net of tax 0.1 2.8 — 2.2 2.1 276.5 278.7
Net income $ 202.4 $ 121.2 $ 560.7 $ 591.4
1 unchanged paragraph
Basic 161.8 161.7 161.8 163.4
Diluted 164.1 163.6 164.1 165.4
Basic 161.7 161.2 161.7 162.7
Dilutive impact of stock options, restricted stock units and performance share units 2.3 1.9 2.4 2.3 2.0 2.1
Diluted 164.0 163.6 164.0 164.8
1 unchanged paragraph
Continuing operations $ 1.33 $ 0.66 $ 2.20 $ 1.19
Basic earnings per ordinary share $ 1.33 $ 0.68 $ 2.21 $ 2.88
Continuing operations $ 1.32 $ 0.65 $ 2.17 $ 1.17
Diluted earnings per ordinary share $ 1.32 $ 0.67 $ 2.18 $ 2.84
Continuing operations $ 1.25 $ 0.74 $ 3.45 $ 1.92
Discontinued operations — 0.02 0.01 1.69 0.01 1.71
Basic earnings per ordinary share $ 1.25 $ 0.75 $ 3.46 $ 3.63
Continuing operations $ 1.23 $ 0.73 $ 3.41 $ 1.90
Discontinued operations — 0.02 0.01 1.67 0.01 1.69
Diluted earnings per ordinary share $ 1.23 $ 0.74 $ 3.42 $ 3.59
Anti-dilutive stock options excluded from the calculation of diluted earnings per share 0.0 0.0 0.2 0.6 0.1 0.5 0.4
Note 5: Acquisitions 3 changes
Maverick Power Acquisition
On October 1, 2026, we completed the acquisition of Maverick Power, LLC ("Maverick Power") for approximately $ 1.75 billion in cash, subject to customary purchase price adjustments. The transaction also includes the potential for additional consideration of up to $ 550 million in cash based on achieving certain performance metrics in 2027 and 2028. Maverick Power is a leading North American provider of engineered power distribution and infrastructure solutions. The purchase price was funded primarily through the issuance of the 2036 Notes and borrowings under the 2026 Term Loan Facility and Revolving Credit Facility (each as defined in Note 10 below).
2 unchanged paragraphs
The purchase price has been allocated based on the estimated fair value of assets acquired and liabilities assumed at the date of the Electrical Products Group acquisition. The purchase price allocation was completed in the second quarter of 2026.
Note 6: Discontinued Operations 10 changes
1 unchanged paragraph
During the six nine months ended June September 30, 2025, the sale resulted in a pre-tax gain of $ 435.4 435.3 million, net of transaction costs of $ 32.8 million. The Provision for income taxes for the six nine months ended June September 30, 2025 of $ 160.5 158.0 million predominately relates to tax expense on the gain on sale.
1 unchanged paragraph
In millions June 30,
Three months ended Six Nine months ended
In millions September 30,
3 unchanged paragraphs
Selling, general and administrative 0.4 0.7 — 0.2 0.7 16.7 16.9
1 unchanged paragraph
Gain from sale of discontinued operations before income taxes — ( 1.5 ) ( 1.7 ) ( 435.4 )
Operating income (loss) — 0.4 ( ( 0.7 0.2 ) ( 0.7 ) 1.6 1.4
Income (loss) from discontinued operations before gain from sale and income taxes — 0.4 ( 0.2 ) ( 0.7 ) 1.4 (Gain) loss from sale of discontinued operations before income taxes — 0.7 0.1 ( 1.6 1.7 ) ( 435.3 )
Provision for (benefit from) income taxes — 0.5 ( ( 2.0 2.5 ) ( 1.1 ) 160.5 158.0
Income from discontinued operations, net of tax $ 0.1 — $ 2.8 2.2 $ 2.1 $ 276.5 278.7 nVent Electric plc
Note 7: Goodwill and Other Identifiable Intangible Assets 12 changes
3 unchanged paragraphs
translation/other June 30,
translation/other September 30,
Systems Protection $ 1,202.4 $ 1.3 $ ( 4.0 4.2 ) $ 1,199.7 1,199.5
1 unchanged paragraph
Total goodwill $ 2,678.0 $ 2.3 $ ( 4.0 4.2 ) $ 2,676.3 2,676.1
1 unchanged paragraph
June September 30, 2026 December 31, 2025
3 unchanged paragraphs
Customer relationships $ 1,902.1 1,902.2 $ ( 599.0 623.2 ) $ 1,303.1 1,279.0 $ 1,904.0 $ ( 551.5 ) $ 1,352.5
Proprietary technologies and patents 112.1 112.3 ( 38.7 42.2 ) 73.4 70.1 111.8 ( 31.8 ) 80.0
Other definite-lived intangible assets 139.5 ( 90.3 99.1 ) 49.2 40.4 139.5 ( 63.1 ) 76.4
Total definite-life intangibles 2,153.7 2,154.0 ( 728.0 764.5 ) 1,425.7 1,389.5 2,155.3 ( 646.4 ) 1,508.9
2 unchanged paragraphs
Total intangibles $ 2,521.3 2,521.6 $ ( 728.0 764.5 ) $ 1,793.3 1,757.1 $ 2,522.9 $ ( 646.4 ) $ 1,876.5
Identifiable intangible asset amortization expense was $ 41.1 36.3 million and $ 35.9 41.9 million for the three months ended June September 30, 2026 and 2025, respectively, and $ 82.2 118.5 million and $ 64.1 106.0 million for the six nine months ended June September 30, 2026 and 2025, respectively.
2 unchanged paragraphs
Estimated amortization expense $ 71.7 35.6 $ 136.3 $ 110.9 111.0 $ 110.9 111.0 $ 107.8 $ 105.6 nVent Electric plc
Note 8: Supplemental Balance Sheet Information 43 changes
In millions June 30,
Finished goods 222.5 227.2
Total inventories $ 522.4 $ 471.9
In millions September 30,
Raw materials and supplies $ 253.5 270.9 $ 213.5
Work-in-process 46.4 51.5 31.2
Finished goods 251.4 227.2
Total inventories $ 573.8 $ 471.9
1 unchanged paragraph
Contract assets $ 168.5 $ 160.8
Contract assets $ 207.0 $ 160.8
Prepaid expenses 42.7 42.1 46.8
Prepaid income taxes 25.1 44.1 12.1
Other current assets 20.2 19.2 17.5
Total other current assets $ 256.5 312.4 $ 237.2
1 unchanged paragraph
Land and land improvements $ 28.0 27.9 $ 28.3
Buildings and leasehold improvements 229.1 235.0 220.0
Machinery and equipment 681.4 702.3 651.1
Construction in progress 65.2 72.3 65.7
Total property, plant and equipment 1,003.7 1,037.5 965.1
Accumulated depreciation and amortization 555.8 571.2 530.6
Total property, plant and equipment, net $ 447.9 466.3 $ 434.5
1 unchanged paragraph
Deferred compensation plan assets $ 22.4 22.5 $ 18.8
Operating lease right-of-use assets 132.8 156.0 128.6
Deferred tax assets 45.4 44.4 46.7
Other non-current assets 24.0 23.8 29.2
Total other non-current assets $ 224.6 246.7 $ 223.3
1 unchanged paragraph
Accrued rebates 78.8 91.5
Contract liabilities 159.9 176.8
Accrued interest 9.8 9.8
Dividends payable $ 34.3 34.2 $ 34.6
Accrued rebates 97.2 91.5
Contract liabilities 139.3 176.8
Accrued taxes payable 45.1 60.0 56.7
Current operating lease liabilities 33.0 35.7 30.3
Accrued interest 24.9 9.8
Other current liabilities 111.6 131.0 74.5
Total other current liabilities $ 472.5 522.3 $ 474.2
1 unchanged paragraph
Income taxes payable $ 9.4 9.8 $ 10.3
Deferred compensation plan liabilities 22.4 22.5 18.8
Cross currency swap liabilities 28.8 28.2 36.7
Non-current operating lease liabilities 107.5 128.8 105.0
Other non-current liabilities 34.0 34.4 33.8
Total other non-current liabilities $ 202.1 223.7 $ 204.6
Note 9: Derivatives and Financial Instruments 2 changes
4 unchanged paragraphs
At June September 30, 2026 and December 31, 2025, we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $ 186.4 199.8 million and $ 155.4 million, respectively. The impact of these contracts on the Condensed Consolidated Statements of Income and Comprehensive Income was not material for any period presented.
1 unchanged paragraph
At June September 30, 2026 and December 31, 2025, we had outstanding cross currency swap agreements with a combined notional amount of $ 350.5 350.1 million and $ 362.5 million, respectively. The agreements are accounted for as either cash flow hedges or fair value hedges, to hedge foreign currency fluctuations on certain intercompany debt, or as net investment hedges, to manage our exposure to fluctuations in the Euro-U.S. Dollar exchange rate. At June September 30, 2026 and December 31, 2025, we had deferred foreign currency losses of $ 9.2 9.0 million and $ 0.9 million, respectively, in Accumulated other comprehensive loss associated with our cross currency swap activity.
6 unchanged paragraphs
Note 10: Debt 8 changes
3 unchanged paragraphs
Term loan facility 4.903 % 2030 200.0 268.2
2025 term loan facility 5.151 % 2030 96.6 268.2
2026 term loan facility N/A 2029 — —
3 unchanged paragraphs
Senior notes - fixed rate 6.150 % 2036 800.0 —
Unamortized debt issuance costs and discounts N/A N/A ( 7.6 15.2 ) ( 8.4 )
Total debt 1,492.4 2,181.4 1,559.8
1 unchanged paragraph
In March 2018, nVent Finance S.à r.l. ("nVent Finance"), a 100-percent owned subsidiary of nVent, issued $ 500.0 million aggregate principal amount of 4.550 % senior notes due 2028 (the "2028 Notes").
Long-term debt $ 1,478.6 2,167.6 $ 1,546.0
Notes to the financial statements 10 changes
In March 2018, nVent Finance S.à r.l. ("nVent Finance"), a 100-percent owned subsidiary of nVent, issued $ 500.0 million aggregate principal amount of 4.550 % senior notes due 2028 (the "2028 Notes").
1 unchanged paragraph
In May 2023, nVent Finance issued $ 500.0 million aggregate principal amount of 5.650 % Senior Notes due 2033 (the "2033 Notes" and, collectively with the 2028 Notes and the 2031 Notes, the "nVent Finance Notes").
In September 2026, to partially finance the acquisition of Maverick Power, Hoffman Schroff Holdings, Inc. ("Hoffman"), a 100-percent owned indirect subsidiary of nVent, issued $ 800.0 million aggregate principal amount of 6.150 % Senior Notes due 2036 (the "2036 Notes" and, collectively with the nVent Finance Notes, the "Notes").
Interest on the 2028 Notes is payable semi-annually in arrears on April 15 and October 15 of each year, and interest on the 2031 Notes and 2033 Notes is payable semi-annually in arrears on May 15 and November 15 of each year, and interest on the 2036 Notes is payable semi-annually in arrears on March 15 and September 15 of each year.
In February 2026, we entered into a supplemental indenture to the indenture governing the nVent Finance Notes as a result of which nVent Electric plc and Hoffman Schroff Holdings, Inc. (together with nVent Finance, the "Obligor Group") fully and unconditionally and jointly and severally guarantee the Notes of nVent Finance (together with Notes. In September 2026, we entered into an indenture and a supplemental indenture thereto governing the 2036 Notes as a result of which nVent Electric plc and Hoffman Schroff Holdings, Inc., nVent Finance fully and unconditionally and jointly and severally guarantee the "Obligor Group"). 2036 Notes. nVent Electric plc is a holding company that has no independent assets or operations unrelated to its investments in consolidated subsidiaries. nVent Finance is a holding company that has no independent assets or operations unrelated to its investments in consolidated subsidiaries, and the issuance of the nVent Finance Notes and other external debt and the guarantees of the 2036 Notes and other external debt. Hoffman Schroff Holdings, Inc. is a United States holding company and a 100 percent-owned indirect subsidiary of nVent Electric plc that has no independent assets or operations unrelated to its investments in consolidated subsidiaries, the issuance of the 2036 Notes and other external debt and the guarantees of the nVent Finance Notes and other external debt. nVent Electric plc's principal source of cash flow, including cash flow to make payments on the Notes pursuant to the guarantees, is dividends from its subsidiaries. nVent Finance's principal source of cash flow, including to make payments on the nVent Finance Notes and on the 2036 Notes pursuant to the guarantees, is interest income from its subsidiaries. Hoffman Schroff Holdings, Inc.'s Hoffman's principal source of cash flow, including to make payments on the 2036 Notes and on the nVent Finance Notes pursuant to the guarantees, is interest income from its subsidiaries. None of the other subsidiaries of any of the Obligor Group are under any direct obligation to pay or otherwise fund amounts due on the Notes or the guarantees, whether in the form of dividends, distributions, loans or other payments. In addition, there may be statutory and regulatory limitations on the payment of dividends from certain subsidiaries of the Obligor Group. If such subsidiaries are unable to transfer funds to the Obligor Group and sufficient cash or liquidity is not otherwise available, the Obligor Group may not be able to make principal and interest payments on their outstanding debt, including the Notes or the guarantees.
The nVent Finance Notes constitute general unsecured senior obligations of nVent Finance and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of nVent Finance, and the 2036 Notes constitute general unsecured senior obligations of Hoffman and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of Hoffman. The guarantees of the nVent Finance Notes by nVent Electric plc and Hoffman Schroff Holdings, Inc. constitute general unsecured obligations and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of nVent Finance, and the guarantees of the 2036 Notes by nVent Electric plc and nVent Finance constitute general unsecured obligations and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of Hoffman. Subject to certain qualifications and exceptions, the indenture indentures pursuant to which the Notes were issued contains contain covenants that, among other things, restrict nVent Electric plc's, Hoffman Schroff Holdings, Inc.'s, Hoffman's, nVent Finance's and certain subsidiaries' ability to merge or consolidate with another person, create liens or engage in sale and lease-back transactions.
2 unchanged paragraphs
As of June 30, 2026, the borrowing capacity under the Revolving Credit Facility was $ 600.0 million.
Borrowings under the Senior Credit Facilities bear interest at a rate equal to an adjusted base rate, the Term Secured Overnight Financing Rate ("SOFR"), Euro Interbank Offer Rate ("EURIBOR"), Sterling Overnight Index Average ("SONIA") or, solely for swingline loans denominated in Euro, the Euro Short Term Rate ("ESTR"), plus, in each case, an applicable margin. The applicable margin will be based on, at nVent Finance's election, nVent's net leverage ratio or public debt rating.
Our debt agreements contain certain financial covenants, the most restrictive of which are in the Senior Credit Facilities, including that we may not permit (i) the ratio of our consolidated debt (net of our consolidated unrestricted cash in excess of $ 5.0 million but not to exceed $ 250.0 million) to our consolidated net income (excluding, among other things, non-cash gains nVent Electric plc
In June 2025, nVent and its subsidiaries nVent Finance and Hoffman Schroff Holdings, Inc. entered into an amended and restated credit agreement (the "Credit Agreement") with a syndicate of banks providing for a five-year $ 275.0 million senior unsecured term loan facility (the "Term Loan Facility") and a five-year $ 600.0 million senior unsecured revolving credit facility (the "Revolving Credit Facility" and, together with the Term Loan Facility, the "Senior Credit Facilities"). Borrowings under the Revolving Credit Facility are permitted from time to time during the full five-year term of the Revolving Credit Facility. nVent Finance has the option to request to increase the Revolving Credit Facility in an aggregate amount of up to $ 300.0 million, subject to customary conditions, including the commitment of the participating lenders. Electric plc
Note 11: Income Taxes 1 change
The effective income tax rate was 22.4 22.3 % for both the six nine months ended June September 30, 2026 and June 20.6 % for the nine months ended September 30, 2025. The liability for uncertain tax positions was $ 9.4 9.8 million and $ 10.3 million at June September 30, 2026 and December 31, 2025, respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Net interest expense , respectively, on the Condensed Consolidated Statements of Income and Comprehensive Income, which is consistent with our past practices.
Note 12: Shareholders' Equity 5 changes
During the six months ended June 30, 2026, we repurchased 0.4 million of our ordinary shares for $ 50.4 million under the 2024 Authorization. During the six months ended June 30, 2025, we repurchased 4.8 million of our ordinary shares for $ 253.1 million under the 2024 Authorization.
As of June 30, 2026, we had $ 96.5 million available for share repurchases under the 2024 Authorization.
On May 16, 2026, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $ 500.0 million (the "2026 Authorization"). The 2026 Authorization began on July 23, 2026 and expires on July 22, 2029.
On May 16, 2026, the Board of Directors declared a quarterly cash dividend of $ 0.21 per ordinary share payable on August 7, 2026, to shareholders of record at the close of business on July 24, 2026. The balance of dividends payable included in Other current liabilities on our Condensed Consolidated Balance Sheets was $ 34.3 million and $ 34.6 million at June 30, 2026 and December 31, 2025, respectively.
On May 17, 2024, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $ 500.0 million (the "2024 Authorization"). The 2024 Authorization began on July 23, 2024 and expires on July 22, 2027. On nVent Electric plc
Note 13: Segment Information 2 changes
2 unchanged paragraphs
The accounting policies of our reporting segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2025. The Company's primary measure of segment profitability is reportable segment income. Reportable segment income represents operating income, which includes certain corporate overhead allocations, and is exclusive of intangible amortization, acquisition related costs, costs of restructuring activities, reimbursements of tariffs previously remitted under the International Emergency Economic Powers Act ("IEEPA tariffs"), "mark-to-market" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items.
nVent's chief operating decision maker ("CODM") is our chief executive officer. This presentation is consistent with how the CODM evaluates the results of operations and makes strategic decisions about the business. The CODM uses reportable segment income for purposes of evaluating performance, allocating resources, setting incentive compensation targets, as well as internal forecasting of future period financial results. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented.
Note 14: Share-Based Compensation 19 changes
In millions June 30,
Restricted stock units $ 4.6 $ 5.4 $ 11.6 $ 9.3
Performance share units 0.9 4.0 6.8 6.8
Stock options 1.2 2.2 4.7 4.0
Total $ 6.7 $ 11.6 $ 23.1 $ 20.1
Total share-based compensation expense for the three and six nine months ended June September 30, 2026 and 2025, was as follows:
Three months ended Six Nine months ended
In millions September 30,
Restricted stock units $ 4.8 $ 5.1 $ 16.4 $ 14.4
Performance share units 1.6 3.5 8.4 10.3
Stock options 1.4 2.1 6.1 6.1
Total $ 7.8 $ 10.7 $ 30.9 $ 30.8
1 unchanged paragraph
We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends, and using the following assumptions:
Risk-free interest rate 3.73 %
Expected dividend yield 0.77 %
Expected share price volatility 39.8 %
Expected term (years) 6.1
These estimates require us to make assumptions based on historical results, observance of trends in our share price, changes in option exercise behaviors, future expectations and other relevant factors. If other assumptions had been used, share-based compensation expense, as calculated and recorded under the accounting guidance, could have been affected.
We based the expected life assumption on historical experience as well as the terms and vesting periods of the options granted. For purposes of determining expected volatility, we considered historical volatilities of peer companies over a period approximately equal to the expected option term. The risk-free rate for periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant.
Note 15: Commitments and Contingencies 4 changes
4 unchanged paragraphs
Stand-by letters of credit, bank guarantees and bonds
In the ordinary course of business, we are required to commit to bonds, letters of credit and bank guarantees that require payments to our customers for any non-performance. The outstanding face value of these instruments fluctuates with the value of our projects in process and in our backlog. In addition, we issue financial stand-by letters of credit primarily to secure our performance to third parties under self-insurance programs.
As of June 30, 2026 and December 31, 2025, the outstanding value of bonds, letters of credit and bank guarantees totaled $ 102.0 million and $ 75.7 million, respectively.
We provide service and warranty policies on our products. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant. Our liability for service and product warranties as of June September 30, 2026 and December 31, 2025 was not material.
Forward-looking statements 178 changes
This report contains statements that we believe to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "forecasts," "should," "would," "could," "positioned," "strategy," "future," "are confident," or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these factors are adverse effects on our business operations or financial results, including the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the Electrical Products Group Maverick Power acquisition; competition and pricing pressures in the markets we serve; impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses; risks associated with or arising from military conflicts; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission (the "SEC"), including this Quarterly Report on Form 10-Q and ITEM 1A. of our Annual Report on Form 10-K for the year ended December 31, 2025. All forward-looking statements speak only as of the date of this report. nVent Electric plc assumes no obligation, and disclaims any obligation, to update the information contained in this report.
1 unchanged paragraph
We classify our operations into business segments based primarily on types of products offered and markets served. We operate across two segments: Systems Protection and Electrical Connections, which represented approximately 72% and 28% of total revenues during the first six nine months of 2026, respectively.
4 unchanged paragraphs
On October 1, 2026, we completed the acquisition of Maverick Power, LLC ("Maverick Power") for approximately $1.75 billion in cash, subject to customary purchase price adjustments. The transaction also includes the potential for additional consideration of up to $550 million in cash based on achieving certain performance metrics in 2027 and 2028. Maverick Power is a leading North American provider of engineered power distribution and infrastructure solutions. The purchase price was funded primarily through the issuance of the 2036 Notes and borrowings under the 2026 Term Loan Facility and Revolving Credit Facility (each as defined below).
1 unchanged paragraph
The following trends and uncertainties affected our financial performance in 2025 and the first six nine months of 2026 and will likely impact our results in the future:
• During 2025 and the first six nine months of 2026, we experienced general inflationary increases, including the impacts related to tariffs, primarily related to raw materials, labor and transportation costs. Although we may experience increased regularly monitor the financial health and operations of companies in our supply chain, challenges, inflationary cost increases and economic uncertainty due to the rapid changes use alternative suppliers when necessary and available, supply chain constraints could cause a disruption in global trade policies. our ability to obtain raw materials or critical components required to manufacture our products. We have taken pricing actions and may take additional pricing actions going forward, and implemented and plan to continue to implement, supply chain optimization and other productivity improvements that have helped, and could continue to help offset expected cost increases and mitigate potential supply chain constraints. The potential impact of inflationary increases, including impacts related to tariffs, and supply chain constraints remains uncertain, but we expect inflationary cost increases, including impacts related to tariffs, to those macroeconomic conditions will likely continue throughout 2026 and beyond, which could negatively impact our results of operations.
11 unchanged paragraphs
In millions June 30,
The consolidated results of operations for the three months ended June September 30, 2026 and 2025 were as follows:
In millions September 30,
1 unchanged paragraph
Net sales $ 1,471.3 $ 963.1 $ 508.2 52.8 %
Cost of goods sold 913.3 591.3 322.0 54.5 %
Gross profit 558.0 371.8 186.2 50.1 %
37.9 % 38.6 % (0.7) pts
Net sales $ 1,514.9 $ 1,054.0 $ 460.9 43.7 %
Cost of goods sold 972.0 659.3 312.7 47.4 %
Gross profit 542.9 394.7 148.2 37.5 %
35.8 % 37.4 % (1.6) pts
1 unchanged paragraph
15.8 % 20.4 % (4.6) pts
15.6 % 19.7 % (4.1) pts
1 unchanged paragraph
Operating income 300.7 156.7 144.0 91.9 %
% of net sales 20.4 % 16.3 % 4.1 pts
Net interest expense 17.4 17.6 (0.2) N.M.
Income from continuing operations before income taxes 282.0 138.0 144.0 104.3 %
Provision for income taxes 66.2 31.3 34.9 111.5 %
Effective tax rate 23.5 % 22.7 % 0.8 pts
Net income from continuing operations 215.8 106.7 109.1 102.2 %
Net income $ 215.9 $ 109.5 $ 106.4 97.2 %
In millions June 30,
% of net sales 1.7 1.6 % 2.0 % (0.3) (0.4) pts
Operating income 282.3 166.3 116.0 69.8 %
% of net sales 18.6 % 15.8 % 2.8 pts
Net interest expense 21.0 20.9 0.1 N.M.
Other expense 1.3 1.1 0.2 1.2 1.2 — N.M.
Income from continuing operations before income taxes 260.1 144.2 115.9 80.4 %
Provision for income taxes 57.7 25.2 32.5 129.0 %
Effective tax rate 22.2 % 17.5 % 4.7 pts
Net income from continuing operations 202.4 119.0 83.4 70.1 %
Income from discontinued operations, net of tax 0.1 2.8 (2.7) — 2.2 (2.2) N.M.
Net income $ 202.4 $ 121.2 $ 81.2 67.0 %
The consolidated results of operations for the six nine months ended June September 30, 2026 and 2025 were as follows:
In millions September 30,
1 unchanged paragraph
Net sales $ 2,713.3 $ 1,772.4 $ 940.9 53.1 %
Cost of goods sold 1,709.7 1,086.9 622.8 57.3 %
Gross profit 1,003.6 685.5 318.1 46.4 %
37.0 % 38.7 % (1.7) pts
Selling, general and administrative 460.0 362.2 97.8 27.0 %
17.0 % 20.4 % (3.4) pts
Research and development 47.2 36.6 10.6 29.0 %
Operating income 496.4 286.7 209.7 73.1 %
% of net sales 18.3 % 16.2 % 2.1 pts
Net interest expense 34.9 35.0 (0.1) N.M.
Other expense 2.6 2.2 0.4 N.M.
Income from continuing operations before income taxes 458.9 249.5 209.4 83.9 %
Provision for income taxes 102.7 55.8 46.9 84.1 %
Effective tax rate 22.4 % 22.4 % — pts
Net income from continuing operations 356.2 193.7 162.5 83.9 %
Net income $ 358.3 $ 470.2 $ (111.9) (23.8) %
Net sales $ 4,228.2 $ 2,826.4 $ 1,401.8 49.6 %
Cost of goods sold 2,681.7 1,746.2 935.5 53.6 %
Gross profit 1,546.5 1,080.2 466.3 43.2 %
36.6 % 38.2 % (1.6) pts
Selling, general and administrative 696.3 570.0 126.3 22.2 %
16.5 % 20.2 % (3.7) pts
Research and development 71.5 57.2 14.3 25.0 %
% of net sales 1.7 % 2.1 2.0 % (0.4) (0.3) pts
Operating income 778.7 453.0 325.7 71.9 %
% of net sales 18.4 % 16.0 % 2.4 pts
Net interest expense 55.9 55.9 — N.M.
Other expense 3.8 3.4 0.4 N.M.
Income from continuing operations before income taxes 719.0 393.7 325.3 82.6 %
Provision for income taxes 160.4 81.0 79.4 98.0 %
Effective tax rate 22.3 % 20.6 % 1.7 pts
Net income from continuing operations 558.6 312.7 245.9 78.6 %
Income from discontinued operations, net of tax 2.1 276.5 (274.4) 278.7 (276.6) N.M.
Net income $ 560.7 $ 591.4 $ (30.7) (5.2) %
2 unchanged paragraphs
Organic growth 46.9 % 41.2 %
Acquisition 5.4 10.7
Three months ended June September 30, 2026 Six Nine months ended June September 30, 2026 over the prior year period over the prior year period
Organic growth 43.9 % 42.2 %
The 52.8 43.7 and 53.1 49.6 percent increases in net sales in the second third quarter and first half nine months of 2026 from 2025, respectively, were primarily the result of:
• organic sales growth contribution of approximately 44.0% 35.0% and 38.0% 37.0% from our infrastructure business in the second third quarter and first half nine months of 2026 from 2025, respectively, approximately 5.5% and 2.5% from our industrial business in the third quarter and first nine months of 2026 from 2025, respectively, and approximately 2.0% 3.5% and 2.5% from our commercial & residential business in both the second third quarter and first half nine of 2026 from 2025, respectively, which includes selective increases in selling prices and growth in the data centers business. and
1 unchanged paragraph
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and 98 more changes in the filing
Market risk 1 change
There have been no material changes in our market risk during the quarter ended June September 30, 2026. For additional information, refer to our 2025 Annual Report on Form 10-K for the year ended December 31, 2025.
Controls and procedures 2 changes
1 unchanged paragraph
We maintain a system of disclosure controls and procedures designed to provide reasonable assurance as to the reliability of our published financial statements and other disclosures included in this report. Our management evaluated, with the participation of our Chief Executive Officer and our Chief Financial Officer, the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the quarter ended June September 30, 2026 pursuant to Rule 13a-15(b) of the Securities Exchange Act of 1934 (the "Exchange Act"). Based upon their evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that our disclosure controls and procedures were effective, at the reasonable assurance level, as of the end of the quarter ended June September 30, 2026 to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms, and to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is accumulated and communicated to our management, including our principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosures.
1 unchanged paragraph
There were no changes in our internal control over financial reporting that occurred during the quarter ended June September 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Risk factors 21 changes
There have b een no material changes from the risk factors previously disclosed in our 2025 Annual Report on Form 10-K for the year ended December 31, 2025, except for the additional risk factors relating to the Maverick Power acquisition set forth below.
We could be subject to new risks, known and unknown, relating to the Maverick Power acquisition.
We may experience risks, losses and damages associated with the Maverick Power acquisition. The risks we could face include the following:
• the Maverick Power acquisition may lead to the incurrence of costs to review, upgrade and integrate Maverick Power's systems with our compliance and reporting systems, including our systems of internal control over financial reporting. The process of integrating Maverick Power into our internal control over financial reporting could require significant time and effort from our management and other personnel and could increase our compliance costs; and
• the Maverick Power acquisition involves the inherent risk of liabilities, and these liabilities may prove more costly or produce more adverse effects than we anticipate, such as actual or potential litigation and regulatory matters. In addition, in the course of the due diligence review of Maverick Power, we may not have discovered, or may have been unable to quantify, undisclosed liabilities of Maverick Power, and we may not be indemnified or have insurance for any of these liabilities. Any such liabilities could have an adverse effect on our business, results of operations, financial condition and cash flows.
Any of these risks associated with the Maverick Power acquisition could have a material adverse impact on our business, results of operations and financial condition.
Increased leverage may harm our financial condition and results of operations.
As of September 30, 2026, we had $2.2 billion of total debt on a consolidated basis. On October 1, 2026, our indebtedness increased materially in connection with the Maverick Power acquisition. We funded the Maverick Power acquisition with borrowings under the 2026 Term Loan Facility and net proceeds from the issuance of the 2036 Notes, together with cash on hand and borrowings from our Revolving Credit Facility, for an aggregate amount of approximately $1.65 billion of new indebtedness incurred in connection with the Maverick Power acquisition. We and our subsidiaries may incur additional indebtedness in the future. This increase and any future increases in our level of indebtedness will have several important effects on our future operations, including, without limitation:
• we will have additional cash requirements to support the payment of interest on our outstanding indebtedness;
• increases in our outstanding indebtedness and leverage may increase our vulnerability to adverse changes in general economic and industry conditions, as well as to competitive pressure;
• our ability to obtain additional financing for working capital, capital expenditures, general corporate and other purposes may be reduced;
• our flexibility in planning for, or reacting to, changes in our business and our industry may be reduced; and
• our flexibility to make acquisitions and develop technology may be limited.
Our ability to make payments of principal and interest on our indebtedness depends upon our future performance, which will be subject to general economic conditions and financial, business and other factors affecting our consolidated operations, many of which are beyond our control. If we are unable to generate sufficient cash flow from operations in the future to service our debt and meet our other cash requirements, we may be required, among other things:
• to seek additional financing in the debt or equity markets;
• to refinance or restructure all or a portion of our indebtedness;
• to sell selected assets or businesses; or
• to reduce or delay planned capital or operating expenditures.
Such measures might not be sufficient to enable us to service our debt and meet our other cash requirements. In addition, any such financing, refinancing or sale of assets might not be available at all or on economically favorable terms.
We may not realize the anticipated benefits of the Maverick Power acquisition and any benefit may take longer to realize than we expect.
There are uncertainties inherent in the integration of Maverick Power's operations with our existing operations. Integration may divert management attention and resources, and delays or unexpected difficulties in the integration process could adversely affect our business, financial results and financial condition. Even if we are able to integrate Maverick Power's operations successfully, this integration may not result in the realization of the full benefits or operational efficiencies that we expect or the achievement of these benefits within a reasonable period of time or at all.
Unregistered sales of stock 9 changes
The following table provides information with respect to purchases we made of our ordinary shares during the second third quarter of 2026:
4 unchanged paragraphs
April 1 - April 25, 2026 7,635 $ 130.45 — $ 96,520,092
April 26 - May 23, 2026 6,196 169.23 — 96,520,092
May 24 - June 30, 2026 1,222 159.74 — 96,520,092
July 1 - July 25, 2026 122,548 $ 140.52 119,863 $ 579,721,024
July 26 - August 29, 2026 213,991 154.38 213,740 546,721,333
August 30 - September 30, 2026 1,332 151.42 — 546,721,333
3 unchanged paragraphs
and 2 more changes in the filing
Other information 7 changes
and 7 more changes in the filing
Exhibits 11 changes
1 unchanged paragraph
4 unchanged paragraphs
1 unchanged paragraph
3 unchanged paragraphs
and 11 more changes in the filing
Unchanged: Financial Statements (unaudited), MD&A, Legal proceedings
Compared by code from the two filings' text and XBRL. Not advice.
The reading, claim by claim
1 of 2 claims matched the filing text.
Not found in the filing text
- The document is accessible under the accession number 0001628280-26-068596.
From the filing's financial data, not stated in its text
From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026
- Gross margin was 35.8%, operating margin 18.6%, and net margin 13.4%.
From the filing
ITEM 1. Financial Statements (unaudited)
ITEM 1. Financial Statements (unaudited)
Condensed Consolidated Statements of Income and Comprehensive Income1
3
Condensed Consolidated Balance Sheets1
4
Condensed Consolidated Statements of Cash Flows1
5
Condensed Consolidated Statements of Changes in Equity
6
Notes to Condensed Consolidated Financial Statements
8
ITEM 1. FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS
nVent Electric plc
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
Three months ended Nine months ended
In millions, except per share data September 30,
2025
Other expense
Comprehensive income, net of tax
Changes in market value of derivative financial instruments, net of tax
Earnings per ordinary share
Basic
Diluted
Weighted average ordinary shares outstanding
See accompanying notes to condensed consolidated financial statements.
3 nVent Electric pl
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