Hubbell(HUBB)

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Hubbell(HUBB) - 2024 Q1 - Earnings Call Transcript
2024-04-30 22:13
Financial Data and Key Metrics Changes - Earnings per share (EPS) for the first quarter of 2024 was $3.60, flat compared to the previous year, with operating profit impacted by interest expenses from recent acquisitions [107][119] - Sales increased by 9% to $1.4 billion, with 2% organic growth and 6% inorganic growth attributed to acquisitions [23][135] - Operating profit was up 3% in dollar terms to $275 million, with a sequential margin increase of 30 basis points [23][119] Business Line Data and Key Metrics Changes - The Utility Solutions segment saw a 14% increase in sales, primarily driven by acquisitions, while organic growth was neutral due to a decline in volume [136] - The Electrical Solutions segment reported flat sales at approximately $500 million, but a 6% organic growth when excluding the impact of the residential lighting divestiture [25][119] - Grid automation experienced double-digit growth in both meters and communications, while the telcom sector faced significant declines [24][69] Market Data and Key Metrics Changes - The distribution markets are expected to grow, but current order patterns are softer due to utilities holding excess inventory [11][116] - The company anticipates a multi-year T&D investment cycle driven by aging infrastructure and electrification needs [105][106] - The telcom market is projected to decline by double digits for the full year, with expectations for a rebound in the second half [69][175] Company Strategy and Development Direction - The company is focused on grid modernization and electrification, positioning itself to meet the increasing demand for utility infrastructure [105][110] - Investments are being made in capacity expansion, particularly in transmission and substation areas, to support long-term growth [80][89] - The company aims to enhance service levels and reduce lead times to improve customer satisfaction and operational efficiency [81][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the setup for Utility Solutions for the remainder of 2024, citing strong visibility in most markets [106][122] - The operating environment remains inflationary, but the company achieved positive price/cost/productivity in both segments [5][119] - Management noted that while the first quarter faced challenges, they expect a strong rebound in demand as inventory levels normalize [28][92] Other Important Information - The company increased its expectations for full-year restructuring investments from $0.25 billion to $0.35 billion to manage costs while investing in growth initiatives [26][89] - The company hosted over 400 utility customers at a recent conference, emphasizing the importance of customer engagement and collaboration [117] Q&A Session Summary Question: Did distribution actually grow for Hubbell in the quarter? - Management indicated that distribution markets are experiencing a normalization phase, impacting order patterns but expect a rebound as inventory levels stabilize [11][28] Question: What is the outlook for the telcom business? - The telcom business is anticipated to decline by double digits for the full year, with a potential rebound in the second half as inventory levels normalize [69][175] Question: How are utility margins expected to trend throughout the year? - Utility margins are expected to see a sequential increase in the second quarter, with a slight decline anticipated in the fourth quarter [16][70]
Hubbell(HUBB) - 2024 Q1 - Earnings Call Presentation
2024-04-30 20:31
16 GAAP measure [b] / [a] 16.3 % 19.4 % -310 bps Adjusted operating margin [c] / [a] 19.7 % 20.7 % -100 bps | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------|-------|----------|----------|-------|----------------|----------------| | Net Sales [a] | | 2024 \n$ | \n505.1 | $ | 2023 \n503.8 | Change \n— % | | Operating Income | | | | | | | | GAAP measure [b] | | $ | 71.0 | $ | 71.3 | — % | | Amortization of acquisition-related intangible assets | | | 4.2 | | 4 ...
Hubbell (HUBB) Reports Q1 Earnings: What Key Metrics Have to Say
Zacks Investment Research· 2024-04-30 14:35
Hubbell (HUBB) reported $1.4 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.9%. EPS of $3.60 for the same period compares to $3.61 a year ago.The reported revenue represents a surprise of +0.36% over the Zacks Consensus Estimate of $1.39 billion. With the consensus EPS estimate being $3.54, the EPS surprise was +1.69%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...
Hubbell (HUBB) Surpasses Q1 Earnings and Revenue Estimates
Zacks Investment Research· 2024-04-30 13:41
Hubbell (HUBB) came out with quarterly earnings of $3.60 per share, beating the Zacks Consensus Estimate of $3.54 per share. This compares to earnings of $3.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.69%. A quarter ago, it was expected that this electrical products manufacturer would post earnings of $3.59 per share when it actually produced earnings of $3.69, delivering a surprise of 2.79%.Over the last four quarter ...
Hubbell(HUBB) - 2024 Q1 - Quarterly Results
2024-04-30 12:09
Date: April 30, 2024 NEWS RELEASE Hubbell Incorporated 40 Waterview Drive Shelton, CT 06484 475-882-4000 HUBBELL REPORTS FIRST QUARTER 2024 RESULTS SHELTON, CT. (April 30, 2024) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the first quarter ended March 31, 2024. "Hubbell is off to a solid start in 2024," said Gerben Bakker, Chairman, President and CEO. "Operating performance was highlighted by strong organic growth in our Electrical Solutions segment, where electrification drove ...
Countdown to Hubbell (HUBB) Q1 Earnings: Wall Street Forecasts for Key Metrics
Zacks Investment Research· 2024-04-29 14:21
Analysts on Wall Street project that Hubbell (HUBB) will announce quarterly earnings of $3.54 per share in its forthcoming report, representing a decline of 1.9% year over year. Revenues are projected to reach $1.39 billion, increasing 8.5% from the same quarter last year.The consensus EPS estimate for the quarter has undergone an upward revision of 0.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates durin ...
Hubbell Incorporated Declares Regular Quarterly Dividend
Newsfilter· 2024-04-26 15:00
Shelton, CT, April 26, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Hubbell Incorporated (NYSE:HUBB) today declared a regular quarterly dividend of $1.22 per share on the Company's common stock. The dividend will be paid June 17, 2024 to shareholders of record on May 31, 2024. Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure reliably and efficiently. With 2023 revenues of $5.4 billion, Hubbell solutions energize e ...
Hubbell to Announce First Quarter 2024 Results on April 30, 2024
Newsfilter· 2024-04-16 21:00
Shelton, CT, April 16, 2024 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE:HUBB) today announced it will release its first quarter 2024 financial results prior to the opening of the market on April 30, 2024. The Company will then webcast its Analysts' Conference Call to discuss the results at 10:00 AM ET. The full text of the press release announcing the results will be posted on Hubbell's corporate website under the Press Release section. You can also access this information by going to www.hubbell.com and ...
Analysts Estimate Hubbell (HUBB) to Report a Decline in Earnings: What to Look Out for
Zacks Investment Research· 2024-04-16 15:06
The market expects Hubbell (HUBB) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the s ...
Hubbell (HUBB) is a Great Momentum Stock: Should You Buy?
Zacks Investment Research· 2024-04-08 17:01
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Whil ...