How did NVT's Q3 2024 earnings surprise analysts?

**nVent Electric's (NVT) Q3 2024 earnings did not entirely meet analysts' expectations.** Here's a detailed analysis: 1. **EPS Surprise**: The most recent EPS was $0.06, with an EPS surprise of 0. This indicates that the actual EPS was in line with the analysts' expectations. |code|Ticker|Name|Date|Revenue Surprise|EPS Surprise|market_code| |---|---|---|---|---|---|---| |NVT|NVT.N|nVent Electric|2024 Q1|1.086E7|0.03|169| |NVT|NVT.N|nVent Electric|2024 Q2|-1.289E7|0|169| |NVT|NVT.N|nVent Electric|2024 Q3|1630000|0.03|169| |NVT|NVT.N|nVent Electric|2024 Q4|-1.918E7|0|169| |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|Diluted EPS|market_code| |---|---|---|---|---|---|---|---| |NVT|NVT.N|nVent Electric|2024 Q1|18.093437753173102|8.746E8|0.62|169| |NVT|NVT.N|nVent Electric|2024 Q2|9.62640099626401|8.803E8|0.66|169| |NVT|NVT.N|nVent Electric|2024 Q3|9.37062937062937|7.82E8|0.62|169| |NVT|NVT.N|nVent Electric|2024 Q4|8.93555394641564|7.522E8|0.06|169| 2. **Revenue Surprise**: The revenue surprise was -19.18 million, which is negative and suggests that the actual revenue was below analysts' expectations. 3. **Analyst Forecasts**: - KeyCorp analyst J. Hammond forecasted an EPS of $0.82 for Q3 2024. - Seaport Res Ptn analyst S. Graham expected an EPS of $0.82 for the quarter, which is slightly higher than the actual EPS. - William Blair analyst B. Drab anticipated an EPS of $0.80, which is also higher than the actual EPS. 4. **Consensus Estimate**: The consensus estimate for EPS was $0.86, indicating that analysts had higher expectations than the actual EPS. 5. **Revenue Guidance**: nVent Electric provided revenue guidance of +8-10% year-over-year to $927.8-944.9 million, compared to the consensus revenue estimate of $918.30 million. This suggests that the company's revenue was expected to be at the higher end of the guidance range. 6. **Market Performance and Analyst Ratings**: Despite the slight miss in EPS and revenue, nVent Electric has received positive analyst ratings, including "Overweight" and "Buy" ratings from various firms, with an average price target of $86.50. In conclusion, while nVent Electric's Q3 2024 earnings did not exceed analysts' expectations in terms of EPS and revenue, the company's strong financial performance and growth prospects have likely contributed to the positive analyst ratings and continued confidence in its future earnings.