Hubbell Inc. (NYSE: HUBB) reported Q3 EPS of $3.08, $0.44 better than the analyst estimate of $2.64. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.25 billion.

GUIDANCE:

Hubbell Inc. sees FY2022 EPS of $10.25-$10.45, versus the consensus of $9.91.

• For the full year 2022, Hubbell anticipates diluted earnings per share in the range of $9.10-$9.30 and anticipates adjusted diluted earnings per share ("Adjusted EPS") in the range of $10.25-$10.45. Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.05 for the full year and approximately $0.10 due to a pension settlement charge. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy and core operations.
• Hubbell anticipates full year 2022 total sales growth of +18-19% and organic net sales growth of +17-18%, as compared to full year 2021. The Company anticipates net M&A contributing +1% to full year sales growth and approximately $0.10 of full year Adjusted EPS.
• Updated 2022 guidance also incorporates the anticipation of accelerated investments in the fourth quarter of 2022. These investments include an acceleration of planned restructuring and footprint optimization initiatives, targeted capacity expansion in areas with high visibility to strong demand, and innovation initiatives in strategic growth verticals. The Company expects approximately $0.30-$0.40 per share of restructuring and related investments for the full year 2022.
• The earnings per share and adjusted earnings per share ranges are based on an adjusted tax rate of ~22%. The Company expects full year 2022 free cash flow conversion of approximately 90% of adjusted net income.

For earnings history and earnings-related data on Hubbell Inc. (HUBB) click here.