Hubbell Inc. (NYSE: HUBB) reported Q1 EPS of $3.60, $0.05 better than the analyst estimate of $3.55. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.39 billion.

GUIDANCE:

Hubbell Inc. sees FY 2024 EPS of $16.00-$16.50, versus the consensus of $16.42.

Hubbell anticipates full year 2024 total sales growth of 8-10% and organic net sales growth of 3-5%, as compared to full year 2023. The Company anticipates acquisitions net of the residential lighting business divestiture contributing approximately 5% to full year sales growth.

The diluted EPS and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include approximately $0.35 of anticipated restructuring and related investment. The Company continues to expect full year 2024 free cash flow of approximately $800 million.

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