nVent Electric plc (NYSE:NVT) Q1 2024 Earnings Conference Call May 3, 2024 9:00 AM ET

Company Participants

Tony Riter - VP, IR
Beth Wozniak - Chairman and CEO
Sara Zawoyski - EVP and CFO

Conference Call Participants

Deane Dray - RBC Capital Markets
Julian Mitchell - Barclays
Nigel Coe - Wolfe Research
Joseph Ritchie - Goldman Sachs
Jeffrey Hammond - KeyBanc Capital Markets
Jeffrey Sprague - Vertical Research Partners
Nicole DeBlase - Deutsche Bank
Vladimir Bystricky - Citigroup
Brian Drab - William Blair

Operator

Good day, and welcome to the nVent Electric First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Tony Riter, Vice President of Investor Relations. Please go ahead.

Tony Riter

Thank you, and welcome to nVent's First Quarter 2024 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 first quarter performance and outlook for the second quarter and an update to our full-year 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'll have time for questions after prepared remarks.

With that, please turn to Slide 3, and I will now turn the call over to Beth.

Beth Wozniak

Thank you, Tony and good morning, everyone. I'm pleased to be with you today to share our first quarter results. We had another great quarter. We continue to execute on our growth strategy, focused on high-growth verticals, new products, global expansion and acquisitions. We had impressive volume growth, margin expansion and robust free cash flow.

We continue to see AI accelerate demand for our data solutions offerings. We also recently published our 2023 sustainability report which highlights significant progress on our ESG goals, including adding two new goals. Overall we’re pleased with the strong start to the year and are raising our full-year adjusted EPS guidance. Now on to Slide 4, for a summary of our first quarter performance.