Hubbell: 2Q Earnings Snapshot
SHELTON, Conn. (AP) _ Hubbell Inc. (HUBB) on Tuesday reported second-quarter profit of $96 million.
The Shelton, Connecticut-based company said it had net income of $1.75 per share. Earnings, adjusted for non-recurring costs, were $2.31 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The electrical products manufacturer posted revenue of $1.2 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.21 billion.
Hubbell expects full-year earnings in the range of $7.85 to $8.15 per share.
Hubbell shares have climbed 26% since the beginning of the year. The stock has climbed roughly 3% in the last 12 months.