nVent Electric plc (NYSE:NVT) Q3 2023 Earnings Conference Call October 27, 2023 9:00 AM ET
Company Participants
Tony Riter - VP, IR
Beth Wozniak - Chair & CEO
Sara Zawoyski - CFO
Conference Call Participants
Jeff Sprague - Vertical Research
Nigel Coe - Wolfe Research
Deane Dray - RBC Capital Markets
Julian Mitchell - Barclays
Joe Ritchie - Goldman Sachs
Vlad Bystricky - Citigroup
Jeff Hammond - KeyBanc Capital Markets
Scott Graham - Seaport Research
Operator
Hello, and welcome to the nVent Electric Third Quarter 2023 Earnings Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note, today's event is being recorded.
I would now like to turn the conference over to Tony Riter, Vice President of Investor Relations. Please go ahead, sir.
Tony Riter
Thank you, and welcome to nVent's third 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 third quarter performance; provide an outlook for the fourth 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 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 turn to Slide 3, and I will 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 record third quarter results. I'm very pleased with our execution in the quarter. We had exceptionally strong income growth, ROS expansion, and robust free cash flow. We continued to execute on our strategy, focused on high growth verticals, new products, acquisitions, and geographic expansion.
We believe we are well-positioned with the Electrification of Everything. In the third quarter, we had record sales up 15% with the addition of ECM and TEXA Industries. Adjusted EPS was up an impressive 27%. The acquisitions performed well and are great additions to nVent. Overall, we are very pleased with our Q3 performance. We had strong execution despite a mixed environment, which I will comment on shortly.