Hubbell sees 2024 adjusted EPS $16.00-$16.50, consensus $16.42

For the full year 2024, Hubbell anticipates diluted earnings per share in the range of $14.10-$14.60 and anticipates adjusted diluted earnings per share in the range of $16.00-$16.50. Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.60 for the full year, a $0.22 loss on disposition of the residential lighting business, and $0.10 of transaction, integration, and separation costs. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition and divestiture strategy. Hubbell anticipates full year 2024 total sales growth of 8-10% and organic net sales growth of 3-5%, as compared to full year 2023. Revenue consensus $5.88B. The Company anticipates acquisitions net of the residential lighting business divestiture contributing approximately 5% to full year sales growth. The diluted EPS and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include approximately $0.35 of anticipated restructuring and related investment. The Company continues to expect full year 2024 free cash flow of approximately $800 million.