The 10-second takeaway
For the quarter ended June 30 (Q2), Hubbell beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share improved significantly.
Margins increased across the board.
Hubbell recorded revenue of $778.4 million. The seven analysts polled by S&P Capital IQ anticipated a top line of $765.5 million on the same basis. GAAP reported sales were 9.8% higher than the prior-year quarter's $709.2 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 $1.29. The nine earnings estimates compiled by S&P Capital IQ averaged $1.23 per share. GAAP EPS of $1.29 for Q2 were 21% higher than the prior-year quarter's $1.07 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 33.4%, 100 basis points better than the prior-year quarter. Operating margin was 16.0%, 120 basis points better than the prior-year quarter. Net margin was 10.0%, 80 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $809.0 million. On the bottom line, the average EPS estimate is $1.44.
Next year's average estimate for revenue is $3.11 billion. The average EPS estimate is $4.97.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hubbell is outperform, with an average price target of $84.57.
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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.