February 8, 2019

Hubbell 4Q earnings exceed expectations

Hubbell Inc. this week reported fourth-quarter earnings of $88 million.

On a per-share basis, the Shelton company said it had posted a profit of $1.60. Earnings, adjusted for one-time gains and costs, were $1.72 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The electrical products manufacturer posted revenues of $1.14 billion for the period, which met Wall Street forecasts.

For the year, the company reported profit of $360.2 million, or $6.54 per share. Revenue was reported as $4.48 billion.

Hubbell said it expects full-year earnings in the range of $7.80 to $8.20 per share.

Hubbell shares have risen 12 percent since the beginning of the year. The stock has declined 17 percent in the last 12 months.

- Associated Press

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