Hubbell Inc. (HUBB) Tops Q1 EPS by 27c, Offers Guidance

Hubbell Inc. (NYSE: HUBB) reported Q1 EPS of $2.12, $0.27 better than the analyst estimate of $1.85. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.08 billion.

GUIDANCE:

Hubbell Inc. sees FY2022 EPS of $9.00-$9.40, versus the consensus of $9.07.

• For the full year 2022, Hubbell anticipates diluted earnings per share in the range of $8.00-$8.40 and anticipates adjusted diluted earnings per share ("Adjusted EPS") in the range of $9.00-$9.40. 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 and core operations.
• Hubbell anticipates 2022 total sales growth and organic net sales growth of 11-13%. The earnings per share and adjusted earnings per share ranges are based on an adjusted tax rate of 22 to 22.5% and include approximately $0.30 per share of anticipated restructuring and related investment. The Company continues to expect full year 2022 free cash flow conversion of 90-100% of adjusted net income.

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

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