Hubbell Incorporated reports developments tied to its utility and electrical solutions business, including products used in power lines, substations, and commercial and industrial buildings. Recurring updates cover operating results, demand in utility transmission and distribution markets, Grid Infrastructure products, and activity in the Electrical Solutions segment serving markets such as datacenters and light industrial applications.
Company news also includes regular dividend declarations, investor conference participation, acquisition-related announcements, and management commentary on pricing, productivity, cost inflation, restructuring investment, and growth initiatives across Hubbell's infrastructure-focused portfolio.
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Hubbell Incorporated (NYSE: HUBB) reported strong first-quarter results for 2023, showing a diluted EPS from continuing operations of $3.37 and an adjusted diluted EPS of $3.61. Net sales increased by 11%, with organic growth at 10%. The operating margin expanded by 700 basis points, with adjusted operating margin growth of 680 basis points. The company raised its FY23 diluted EPS forecast to $12.00-$12.50 and adjusted EPS to $13.00-$13.50.
Utility Solutions experienced robust demand, with net sales rising 20% to $782 million, while Electrical Solutions remained flat at $504 million. Hubbell expects total sales growth of 8-10% and organic net sales growth of 7-9% for the full year.
Hubbell Incorporated (NYSE: HUBB) has declared a quarterly dividend of $1.12 per share on its common stock. This dividend, payable on June 15, 2023, is set for shareholders on record as of May 31, 2023. The company reported revenues of $4.9 billion in 2022, emphasizing its role as a leading manufacturer in the electrical and utility solutions sector.
Hubbell's products are essential for the reliable and efficient operation of critical infrastructure, supporting energy delivery both in front of and behind the meter. The corporate headquarters is located in Shelton, CT.
Hubbell Incorporated (NYSE: HUBB) announced it will release its first quarter 2023 financial results on April 25, 2023, prior to market opening. Following this, a webcast of the Analysts' Conference Call will take place at 10:00 AM ET to discuss the results. This information will be available on Hubbell's corporate website in the Press Release section. For investors, a live audio of the conference and related materials will be accessible via the Events and Presentations section of the website. In 2022, Hubbell reported revenues of $4.9 billion, emphasizing its role as a key manufacturer of utility and electrical solutions that ensure the safe, reliable, and efficient operation of critical infrastructure.
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