Hubbell Inc. (HUBB) Tops Q1 EPS by 112c

Hubbell Inc. (NYSE: HUBB) reported Q1 EPS of $3.61, $1.12 better than the analyst estimate of $2.49. Revenue for the quarter came in at $1.29 billion versus the consensus estimate of $1.25 billion.

GUIDANCE:

Hubbell Inc. sees FY2023 EPS of $13.00-$13.50, versus the consensus of $11.32.

"Hubbell anticipates full year 2023 total sales growth of 8-10% and organic net sales growth of 7-9%, as compared to full year 2022. The Company anticipates net M&A contributing +1% to full year sales growth.

The diluted EPS and Adjusted EPS ranges are based on an adjusted tax rate of 22.5% to 23.0% and include approximately $0.25 of anticipated restructuring and related investment. The Company expects full year 2023 free cash flow conversion of 90% to 95% of adjusted net income from continuing operations."

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

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