nVent Electric plc (NYSE:NVT) Q1 2022 Earnings Conference Call April 29, 2022 9:30 AM ET
Company Participants
Tony Riter - Vice President, Investor Relations
Beth Wozniak - Chief Executive Officer
Sara Zawoyski - Executive Vice President and Chief Financial Officer
Conference Call Participants
Julian Mitchell - Barclays
Joe Ritchie - Goldman Sachs
Nigel Coe - Wolfe Research
Deane Dray - RBC Capital Markets
Jeff Hammond - KeyBanc Capital Markets
Operator
Good day and thank you for standing by. Welcome to the nVent First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's call is being recorded.
I would now like to hand the call over to Tony Riter, Vice President, Investor Relations. Please go ahead, sir.
Tony Riter
Thank you, Charlie. Welcome to nVent's first quarter 2022 earnings call. I'm Tony Riter, Vice President of Investor Relations.
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 first quarter performance, provide an outlook for the second quarter and an update to our full year 2022 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 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 on 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 our prepared remarks.
With that, please turn to slide three, and I'll 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 first quarter results.
Our first quarter performance exceeded our guidance on sales and earnings. Our strategy to focus on high growth verticals, new products and global expansion, combined with strong execution are key to our success.
We delivered record sales in Q1, growing 27% with strong growth across all segments. Orders grew 28% in the quarter, higher than sales. Adjusted earnings per share of $0.50 was up 16% year-over-year. Overall, we are pleased with these results to start the year and are raising our full year sales and adjusted EPS guidance.