Short answer
nVent Electric plc (NVT) filed its fiscal 2018 10-K annual report with the SEC on Feb 19, 2019. It reported revenue of $2.2B (+5.5% year over year) and net income of $231M.
- Top risk flagged: FCPA enforcement risk: DOJ and SEC investigations could trigger criminal or civil sanctions for overseas infrastructure and energy operations
FY2018 key financial metrics · XBRL
- Revenue
- $2.2B
- +5.5% YoY
- Net income
- $231M
- −36.2% YoY
- Operating margin
- 14.0%
- −1.0 pp YoY
- Gross margin
- 39.6%
- −0.6 pp YoY
- EPS (diluted)
- $1.28
- −36.0% YoY
- ROE
- 8.6%
- −1.0 pp YoY
- Operating cash flow
- $344M
- −16.2% YoY
Source: XBRL data from the nVent Electric plc (NVT) FY2018 10-K on SEC EDGAR. USD.
nVent Electric plc FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core model: Global provider of electrical connection and protection solutions across enclosures, thermal management, and fastening
- 2018 corporate launch: Pentair separation created independent nVent, with regular-way NYSE trading beginning May 1
- Strategic emphasis: “One nVent” integration, commercial excellence, digital transformation, IoT, and global capabilities
- Backlog $279.7 million, down 0.2% from $280.4 million; Enclosures backlog rose 4.7%
- Approximately 9,000 employees worldwide as of December 31, 2018
Management Discussion & Analysis
- Revenue $2,213.6M, up 5.5% YoY from $2,097.9M, driven by 4.7% organic growth and favorable currency
- Operating income $310.8M, operating margin 14.0% vs 15.1%; effective tax rate 14.1% vs (15.4%)
- Best segment: Enclosures, sales $1,019.7M, up 9.1%; worst: Thermal Management, sales $623.2M, up 0.2%
- Operating cash flow $343.5M, free cash flow $306.4M; capex $39.5M, dividends $62.9M, repurchases $59.0M
- 2019 capex guidance approximately $55M; risks include tariffs, raw-material inflation, pricing pressure and proposed tax regulations
Risk Factors
- FCPA enforcement risk: DOJ and SEC investigations could trigger criminal or civil sanctions for overseas infrastructure and energy operations
- Russia and Ukraine sanctions exposure: expanded U.S. restrictions could disrupt existing customers and vendors
- Supply-chain vulnerability: materials and finished goods sourced from Mexico, China and other politically unstable countries
- Competitive pressure: lower-cost manufacturers and regional competitors could force price reductions and compress margins
- Stand-alone financial risk: $0.9 billion debt outstanding with covenant breaches potentially accelerating repayment
Generated from the filing text; verify against the original. How to read a 10-K
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