nVent Electric plc (NYSE:NVT) Q2 2024 Earnings Conference Call August 6, 2024 9:00 AM ET

Company Participants

Tony Riter - Vice President of Investor Relations
Beth Wozniak - Chief Executive Officer
Sara Zawoyski - Interim President of Enclosures and Chief Financial Officer

Conference Call Participants

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

Operator

Good day, and welcome to the nVent Second 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 Second 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 second quarter performance and outlook for the third 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. 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, geographic expansion, and acquisitions. In the second quarter, we delivered record sales, up 10% and adjusted EPS up 6%. Our strong execution resulted in another quarter of margin expansion, double-digit adjusted operating income growth, and robust free cash flow. Overall, we are pleased with our first half performance and are raising our full-year sales guidance.