Hubbell: 2Q Earnings Snapshot
SHELTON, Conn. (AP) _ Hubbell Inc. (HUBB) on Tuesday reported second-quarter profit of $100.3 million.
The Shelton, Connecticut-based company said it had profit of $1.82 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $1.97 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.
The electrical products manufacturer posted revenue of $1.17 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.13 billion.
Hubbell expects full-year earnings in the range of $7.05 to $7.35 per share.
Hubbell shares have fallen 16 percent since the beginning of the year. The stock has fallen almost 2 percent in the last 12 months.