nVent Electric Expects FY23 Adjusted EPS Of $3.01-$3.03 Vs 2.9 Estimate (Prior View: $2.85-$2.91); Sees FY23 Reported Sales Growth Of 12%-13% (Prior View:13% to 15%)
Portfolio Pulse from Benzinga Newsdesk
nVent Electric has updated its FY23 forecast, expecting an adjusted EPS of $3.01-$3.03, up from the previous estimate of $2.85-$2.91. The company also anticipates a reported sales growth of 12%-13%, slightly lower than the prior view of 13%-15%.
October 27, 2023 | 10:41 am
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NEUTRAL IMPACT
nVent Electric has raised its FY23 EPS forecast, which could positively impact its stock. However, the company has slightly lowered its sales growth estimate, which could have a negative effect.
The raised EPS forecast indicates that nVent Electric expects to be more profitable, which is generally positive for the stock. However, the lowered sales growth estimate could indicate potential challenges in revenue generation, which could negatively impact the stock.
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