nVent Electric PLC (NYSE:NVT) Q2 2023 Earnings Conference Call July 28, 2023 9:00 AM ET
Company Participants
Tony Riter - Vice President of Investor Relations
Beth Wozniak - Chief Executive Officer & Director
Sara Zawoyski - Executive Vice President & Chief Financial Officer
Conference Call Participants
Julian Mitchell - Barclays Bank
Deane Dray - RBC Capital Markets
Jeff Hammond - KeyBanc Capital Markets
Joseph Ritchie - Goldman Sachs Group
Jeffrey Sprague - Vertical Research Partners
Nigel Coe - Wolfe Research
Operator
Good day and welcome to the nVent Electric Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Mr. Tony Riter, Vice President of Investor Relations. Please go ahead, sir.
Tony Riter
Thank you and welcome to nVent's second quarter 2023 earnings call. On the call with me are Beth Wozniak, our Chair and Chief Executive Officer; and Sara Zawoyski, our Chief Financial Officer. They will provide details on our second quarter performance, provide an outlook for the third quarter and an update to our full year 2023 outlook.
Before we begin, let me remind you that any statements made about the company's anticipated financial results are forward-looking statements subject to the future risks and uncertainties, such as the risks outlined in today's press release and nVent's filings with the Securities and Exchange Commission. Forward-looking statements are made as of today and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results. Today's webcast is accompanied by a presentation which you can find in the Investors section of nVent's website. References to non-GAAP financials are reconciled in the appendix of the presentation. We will have time for questions after our prepared remarks.
With that, please just turn to Slide 3 and I will now turn the call over to Beth.
Beth Wozniak
Thank you, Tony and good morning, everyone. It's great to be with you today to share our strong second quarter results. We continue to execute on our strategy for growth with a focus on high-growth verticals, new products, acquisitions and geographic expansion.
In the second quarter, we delivered record sales, up 10% and adjusted EPS up an impressive 35%. Our strong execution resulted in another quarter of robust margin expansion and free cash flow. Highlights for the quarter include the acquisition of ECM Industries, expanding our electrical power connection and grounding solutions portfolio. We also published our 2022 ESG report which highlighted significant progress on our goals around our People, Products and Planet pillars. Overall, we are very pleased with our strong first-half performance and are raising our full year sales and adjusted EPS guidance.