Hubbell Inc. (HUBB) Tops Q2 EPS by 27c, Offers Guidance

Hubbell Inc. (NYSE: HUBB) reported Q2 EPS of $1.87, $0.27 better than the analyst estimate of $1.60. Revenue for the quarter came in at $949.2 million versus the consensus estimate of $1.03 billion.

GUIDANCE:

Hubbell Inc. sees FY2020 EPS of $7.00-$7.25, versus the consensus of $6.66.

• For the full year 2020, Hubbell anticipates earnings per diluted share in the range of $6.00-$6.25 and adjusted diluted earnings per share ("Adjusted EPS") in the range of $7.00-$7.25(1). Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.00 for the full year(1). The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy.
• The earnings per share and adjusted earnings per share ranges are based on an adjusted tax rate of ~23% and include approximately $0.40 of anticipated restructuring and related investment. The ranges also incorporate the impact of a previously completed divestiture and previously completed acquisitions, the net of which is expected to be a modest tailwind to 2020 adjusted EPS. The Company expects free cash flow to exceed $500 million in 2020(3).

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

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