Hubbell Q2 adjusted EPS $4.37, raises FY24 outlook; net sales +6%

HUBBELL INC

2024-Q2 EPS reported $6.67 revenue$2,851,600,000

2Q diluted EPS $3.94; adjusted diluted EPS $4.37 vs $4.24 prior year.
Net sales +6% to $1.45B (organic +2%, M&A +5%); operating margin 20.7%.
Utility Solutions sales +12% to $927M; Electrical Solutions organic +7% (net -2% due to divestiture).
Raising FY24 guidance: diluted EPS $14.30-$14.60, adjusted $16.20-$16.50.
Free cash flow $206M in Q2; FY24 free cash flow expected ~$800M.

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