Hubbell
The 10-second takeaway
For the quarter ended June 30 (Q2), Hubbell met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. GAAP earnings per share grew.
Margins grew across the board.
Revenue details
Hubbell tallied revenue of $801.3 million. The six analysts polled by S&P Capital IQ anticipated revenue of $801.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $1.37. The eight earnings estimates compiled by S&P Capital IQ predicted $1.31 per share. GAAP EPS of $1.37 for Q2 were 6.2% higher than the prior-year quarter's $1.29 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 33.9%, 50 basis points better than the prior-year quarter. Operating margin was 16.5%, 50 basis points better than the prior-year quarter. Net margin was 10.2%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter's average estimate for revenue is $842.9 million. On the bottom line, the average EPS estimate is $1.62.
Next year's average estimate for revenue is $3.20 billion. The average EPS estimate is $5.44.
Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hubbell is outperform, with an average price target of $99.00.
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