HUBB - Why Electrical Solutions Provider Hubbell Shares Are Up Today | Benzinga
Hubbell Inc (NYSE:HUBB) shares are soaring Tuesday following its better-than-expected fourth-quarter FY23 results.
The company reported net sales of $1.35 billion, beating the consensus of $1.32 billion.
Utility Solutions segment net sales increased 13% Y/Y to $811 million, with Utility T&D Components rising around 4% Y/Y and Utility Communications and Controls growing 48% Y/Y.
Electrical Solutions segment net sales increased 6% to $534 million in the quarter.
Gross profit increased to $456.2 million from $366.8 million a year ago. ...