Hubbell's quarterly profit rises on strong data center product demand

Feb 3 (Reuters) - ⁠Hubbell posted ⁠a ‍rise in fourth-quarter profit on Tuesday, helped by strong ‍demand for its electrical equipment from ​data centers.

Shelton, Connecticut-based Hubbell, whose products ​include wiring and lighting systems, has benefited from the global rise in data center construction ​as more businesses are investing in artificial intelligence technologies.

Its electrical ​segment, which makes products used in transportation, data ‌center and heavy industrial markets, posted a 14% rise in ​fourth-quarter sales from a ⁠year ago.

The company reported adjusted quarterly profit of $4.73 ‌per share, compared with $4.13 per share a year earlier. Analysts on average ‌were expecting $4.70 apiece, according to data compiled ‌by LSEG.

Its total revenue for the quarter ended December 31 was $1.49 billion, up 11.9% ‍from a year earlier.

The electrical equipment maker expects annual ⁠adjusted earnings of $19.15 to $19.85 per share, compared with estimates of $19.82 per share.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shreya Biswas)

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