earnings
confidence high
sentiment positive
materiality 0.75
Hubbell Q3 adjusted EPS $4.49 (+14% YoY), raises FY2024 adj. EPS guidance to $16.35-$16.55
HUBBELL INC
2024-Q3 EPS reported
$10.73
revenue$4,294,200,000
- 3Q net sales +5% to $1.443B; organic -1%, M&A +6%; Utility Solutions sales +11%, Electrical Solutions -5%.
- 3Q GAAP diluted EPS $4.05; adjusted diluted EPS $4.49, up 14% YoY; adjusted operating margin 23.2% (+180 bps).
- FY2024 adjusted EPS guidance raised to $16.35-$16.55 (from prior $15.80-$16.00); GAAP EPS outlook $14.20-$14.40.
- Utility Solutions operating margin expanded to 25.3% (adj.); Electrical Solutions margin improved to 19.4%.
- Free cash flow of $189M in Q3; full-year FCF expected ~$800M.