nVent Electric plc provided earnings guidance for the first quarter and full-year 2024. The company introduces 2024 sales guidance of up 8 to 10%, which represents a range of a 3% to 5% increase in organic sales versus the prior year. The company expects full-year 2024 EPS on a GAAP basis of $2.73 to $2.83 and $3.17 to $3.27 on an adjusted basis, which both include an approximate $0.11 negative impact due to changes in global tax standards. The company expects net income of $104 million.

In addition, the company estimates reported sales for the first quarter of 2024 to be in the range of up 16 to 18%, which represents a 2 to 4% increase on an organic basis. The company estimates first quarter 2024 EPS on a GAAP basis of $0.61 to $0.63 and adjusted EPS of $0.72 to $0.74, which both include an approximate $0.03 negative impact due to changes in global tax standards. The company expects net income of $468 million.