nVent Electric plc (NYSE:NVT) Q3 2022 Earnings Conference Call October 28, 2022 9:00 AM ET
Company Participants
Tony Riter - Vice President, Investor Relations
Beth Wozniak - Chief Executive Officer
Sara Zawoyski - Chief Financial Officer
Conference Call Participants
Joe Ritchie - Goldman Sachs
Julian Mitchell - Barclays
Deane Dray - RBC Capital Markets
Nigel Coe - Wolfe Research
Jeffery Hammond - KeyBanc Capital Markets
Jeffrey Sprague - Vertical Research
Scott Graham - Loop Capital
David Silver - CL King
Operator
Good morning and welcome to the nVent Electric Third Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note that this event is being recorded.
I'd now like to turn the conference over to Tony Riter, Vice President of Investor Relations. Please go ahead.
Tony Riter
Thank you, Jason and welcome to nVent's third quarter 2022 earnings call. On the call with me are Beth Wozniak, our Chief Executive Officer; and Sara Zawoyski, our Chief Financial Officer.
Today we'll provide details on our third quarter performance, an outlook for the fourth quarter, and an update to our full year 2022 outlook. Before we begin, I will remind you that any statements made about the company's anticipated financial results are forward-looking statements subject to 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'll have time for questions after prepared remarks.
With that, please turn to slide three 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 outstanding third quarter performance.
Our nVent team delivered exceptional results by serving our customers, responding to strong demand and overcoming supply chain challenges. Our strategy to focus on high growth verticals, new products, global expansion and acquisitions, combined with strong execution continues to drive our success. We believe we are well-positioned with the electrification of everything, mega trends.
Our third quarter performance was a new record for both sales and adjusted EPS, and once again exceeded our guidance. This marked our sixth consecutive quarter with organic sales growth at or above 20% demonstrating our growth strategy is working. Our return on sales improved both year-over-year and sequentially. Given our strong third quarter results and expectations for Q4, we are again raising our guidance for full year sales and adjusted earnings per share.