nVent Electric plc Ordinary Shares

Good day and welcome to the nvent electric third quarter 2026 earnings conference call all participants will be in listen only mode should you need assistance please signal a conference specialist by pressing the star key followed after today's presentation there will be an opportunity to ask questions to ask a question you may press star then one on your telephone keypad to withdraw your question please press star then two 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.

Thank you and welcome to InVent's third quarter 2026 earnings call. On the call with me are Beth Wozniak, our Chair and Chief Executive Officer, and Gary Corona, 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 outlook. All results referenced throughout this presentation are on a continuing operation basis unless otherwise stated. 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 Inven's filings with the Security 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 investor section of Envent'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 will now turn the call over to Beth.

Good morning everyone. I'm pleased to share with you our outstanding third quarter results and cover some key business highlights. We had another tremendous quarter with record sales, orders, and earnings well ahead of our guidance. The better than expected sales were broad based with double digit growth across all verticals and geographies. In Q3 for Total Invent, we continued to have strong orders and backlog Organic orders grew low double digits on top of 65% growth a year ago. In addition, backlog remained healthy and grew sequentially to $2.6 billion. We also closed on the Maverick power acquisition on October 1st. Maverick brings to Invent a new power distribution platform and increases our offerings in data centers. We are raising our full year sales and EPS guidance to reflect our outstanding third quarter performance and continued broad-based growth led by data centers. Our guidance also incorporates the Maverick Power acquisition. Now onto slide four for a summary of our third quarter performance. Sales were up 44% both on a reported and organic basis led by the infrastructure vertical. New products contributed approximately 30 points to our sales growth and we launched 24 new products in the quarter. Adjusted operating income grew 57% year over year with return on sales up 190 basis points. Adjusted EPS grew 67% and we had robust free cash flow. Sales grew double digits across all verticals. Infrastructure led the way with organic sales up over 70 percent primarily driven by outstanding growth in data centers. Industrial grew in the high teens and commercial resi grew mid-teens turning to organic sales by geography. All geographies grew double digits led by the Americas growing approximately 50 percent Europe was up low double digits and Asia Pacific grew double digits. Infrastructure represents our largest long-term growth opportunity driven by the powerful secular trends of electrification, sustainability, and digitalization. We expect the infrastructure vertical to deliver record double digit organic growth this year with data center expansion and the need for power. We also forecast continued strong growth in 2027. We have been investing in new capacity for liquid cooling, engineered building solutions, power connections, and cable management. This week we announced a new 400,000 square foot facility in Arizona for engineered buildings that will expand our capacity to support growing demand in data centers and power utilities. with production expected to begin in mid-2027. In our high growth areas within infrastructure, our suppliers are working to keep pace with our growth and are also investing in capacity expansions. It is a lot of work to increase volumes with the velocity required. We are partnering closely with our suppliers to help ensure we are scaling rapidly together. Turning to industrial and commercial resi, we expect each to grow organic sales high single digits for the year versus mid single digits previously. We see industrial growth as broad based and see improving demand trends across our short cycle portfolio. I want to thank our Invent team for focusing on our customers and achieving record performance levels. This wraps up my opening remarks. I will now turn the call over to Gary for further details on our third quarter results, as well as our updated outlook. Gary, please go ahead.