Hubbell Inc. (HUBB) Tops Q3 EPS by 28c, Updates FY Guidance

Hubbell Inc. (NYSE: HUBB) reported Q3 EPS of $2.30, $0.28 better than the analyst estimate of $2.02. Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.09 billion.

GUIDANCE:

Hubbell Inc. sees FY2020 EPS of $7.45-$7.60, versus the consensus of $7.22.

• For the full year 2020, Hubbell now anticipates earnings per diluted share in the range of $6.30-$6.45 and adjusted diluted earnings per share ("Adjusted EPS") in the range of $7.45-$7.60. Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.00 for the full year. 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 22-23% and continue to include approximately $0.40 per share 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 be approximately $550 million in 2020.

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

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