Hubbell Posts Q1 Beat

Hubbell Inc, a maker of electrical and electronic products, reported Q1 adjusted earnings per diluted share of $1.23, up from $1.16 for the same quarter last year, and easily beating the consensus analyst forecast of $1.10. Revenues for the quarter were $852.3 million, up from $834.8 million in the year-ago period, and ahead of the analyst forecast of $848.7 million.

The company said that “because of headwind at lighting, and the acquisitions completed to date,” it is
reducing its forecast for full-year 2017 diluted earnings per share by $0.20 to $5.40 to $5.60, which is below the $5.70 per share GAAP consensus. It also expects full-year adjusted earnings per diluted share in the range of $5.65 to $5.85, in line to above the $5.67 per share mean estimate.

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