Hubbell reports Q3 adjusted EPS $3.95, consensus $4.05

Reports Q3 revenue $1.376B, consensus $1.39B. “Hubbell delivered strong earnings growth for shareholders in the third quarter,” said Gerben Bakker, Chairman, President and CEO. “We continued to drive significant margin expansion in the quarter through effective execution on price, cost and productivity, while also accelerating investment levels in capacity, productivity and innovation.” Bakker continued, “Our leading quality and service levels supported strong price realization in the third quarter. In Utility Solutions, improved lead times drove further channel inventory normalization in utility distribution markets as anticipated, though end customer demand was solid. Transmission markets remained robust, and improved supply chain dynamics enabled accelerated sequential growth in utility communications and controls. Telcom markets were softer in the quarter. In Electrical Solutions, industrial end markets were solid, with strength in renewables and datacenter verticals. Channel inventory management continued to impact commercial facing markets as anticipated, and residential markets remained soft.”