nVent Electric plc provided earnings guidance reported sales growth for full-year 2023. For the period, the company expects sales of 12% to 13% versus prior guidance of 13% to 15%. The company now expects organic sales growth of 3% to 4% versus prior guidance of 4% to 6%. The company now expects full-year 2023 EPS of $2.46 to $2.48 on a GAAP basis and adjusted EPS of $3.01 to $3.03, versus prior guidance of $2.30 to $2.36 on a GAAP basis and adjusted EPS of $2.85 to $2.91.

The company estimates reported sales for the fourth quarter of 2023 to be up 15% to 17%, which represents an increase of 1% to 3% on an organic basis. The company estimates fourth quarter 2023 EPS on a GAAP basis of $0.61 to $0.63 and adjusted EPS of $0.73 to $0.75. The company estimates fourth quarter 2023 EPS on a GAAP basis of $0.61 to $0.63.