Hubbell sees FY24 adjusted EPS $16.20-$16.50, consensus $16.32

For the full year 2024, Hubbell anticipates diluted earnings per share in the range of $14.30-$14.60 and anticipates adjusted diluted earnings per share in the range of $16.20-$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 7-8% and organic net sales growth of approximately 3%, as compared to full year 2023. The Company anticipates acquisitions net of the residential lighting business divestiture contributing approximately 5% to full year sales growth.