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    Vlad Bystricky • Citigroup

    Vlad Bystricky's questions to nVent Electric PLC (NVT) leadership

    Vlad Bystricky's questions to nVent Electric PLC (NVT) leadership • Q2 2025

    Question

    Vlad Bystricky from Citigroup questioned the drivers of strong organic growth in Europe and Asia Pacific, given sluggish macroeconomic conditions in those regions. He also asked how nVent protects margins on its growing long-cycle backlog from uncertainties like tariffs and commodity inflation.

    Answer

    CEO Beth Wozniak attributed the international outperformance to the company's strategy of focusing on high-growth verticals, new products, and strong commercial execution with distribution partners. On long-term contracts, she explained that nVent typically includes clauses allowing for price adjustments based on material changes from tariffs or other factors, and customers are generally understanding of these dynamics.

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    Vlad Bystricky's questions to ITT Inc (ITT) leadership

    Vlad Bystricky's questions to ITT Inc (ITT) leadership • Q2 2025

    Question

    Vlad Bystricky inquired about the margins on new project wins being booked into the Industrial Process backlog, especially given price competition. He also asked about the visibility and durability of growth momentum in the shorter-cycle businesses within the CCT segment.

    Answer

    CEO Luca Savi and CFO Emmanuel Caprais explained that despite a mix headwind from more projects, IP margins are improving due to booking projects at better margins and, crucially, enhancing those margins during execution, with shipped project margins up 400 bps YoY. For CCT, Savi highlighted that connector orders (ex-Kesaria) grew 12% in Q2, marking the second-highest quarter ever and signaling durable momentum driven by aerospace and defense.

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