nVent Electric plc (NYSE:NVT) Q4 2022 Earnings Call Transcript

Beth Wozniak: Yes. Well, just to answer that, we always want to have 50. And it depends on the types of products, whether they’re brand new platforms, whether in our fastening business, we tend to have more types of fasteners, which are faster or smaller projects. So it really just depends. But I think what we’re striving for as at least 50 new products a year, reducing that cycle time, higher margins, and then having at least driving a point of growth, if not more.

David Silver: Terrific. Thank you very much.

Beth Wozniak: Thank you.

Operator: Ladies and gentlemen, this concludes our question and answer session. I would like to turn the conference back over to Beth Wozniak for any closing remarks.

Beth Wozniak: Thank you for joining us this morning. We’re proud of our strong finish to a terrific year. I believe we are changing the growth profile of nVent. I’m grateful for the outstanding work of our team to support our customers and execute on our growth strategy. Thanks again for joining us. This concludes the call.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.