The 10-second takeaway
For the quarter ended March 31 (Q1), Hubbell beat expectations on both revenue and earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share grew significantly.
Margins grew across the board.
Hubbell recorded revenue of $723.8 million. The eight analysts polled by S&P Capital IQ expected net sales of $706.7 million on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $658.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.05. The eight earnings estimates compiled by S&P Capital IQ forecast $0.97 per share. GAAP EPS of $1.05 for Q1 were 28% higher than the prior-year quarter's $0.82 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.3%, 110 basis points better than the prior-year quarter. Operating margin was 14.1%, 140 basis points better than the prior-year quarter. Net margin was 8.7%, 110 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $755.9 million. On the bottom line, the average EPS estimate is $1.21.
Next year's average estimate for revenue is $3.05 billion. The average EPS estimate is $4.88.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hubbell is outperform, with an average price target of $79.83.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.