Hubbell Inc. (NYSE: HUBB) reported Q4 EPS of $1.54, $0.12 better than the analyst estimate of $1.42. Revenue for the quarter came in at $918 million versus the consensus estimate of $901.23 million.

GUIDANCE:

Hubbell Inc. sees FY2018 EPS of $6.95-$7.35, versus the consensus of $6.74.

• For the full year 2018, Hubbell expects end market growth of approximately 2% to 4% in the aggregate and acquisitions, including the Aclara acquisition, assuming a Q1 2018 close, to contribute approximately 15% to net sales. This end market outlook includes growth of 3% to 5% for oil and gas; 2% to 4% for Electrical T&D, Industrial and Residential; and 1% to 3% for non-residential markets.
• The Company expects 2018 reported diluted earnings per share in the range of $6.10 to $6.50 and adjusted diluted earnings per share ("Adjusted EPS") in the range of $6.95 to $7.35(4). Adjusted EPS excludes acquisition-related and transaction costs of the pending Aclara acquisition. The Company believes Adjusted EPS is an insightful measure of underlying financial performance and cash flow generation given the expected impacts of the Aclara acquisition. The Company anticipates restructuring and related costs will occur at a run-rate level going forward; as such, Adjusted EPS expectations no longer exclude restructuring and related costs.
• "The organic growth and margin performance trends in the second half of 2017 position us well for a robust 2018. We expect earnings tailwinds from debt refinancing, restructuring actions, and the absence of Lighting's restructuring-driven inefficiencies, plus additional benefits from a lower U.S. tax rate and cash earnings from the Aclara acquisition." Mr. Nord added, "Competitive pricing in Lighting markets and commodity inflation continue to present challenges to be overcome, but I am confident in Hubbell's ability to handle them while delivering increased value to customers and shareholders."

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