HUBB - Hubbell reports Q4 mixed earnings; initiates FY23 outlook
- Hubbell press release ( NYSE: HUBB ): Q4 Non-GAAP EPS of $2.60 beats by $0.20 .
- Revenue of $1.22B (+10.9% Y/Y) misses by $20M .
- Outlook: For the full year 2023, Hubbell anticipates total sales growth of 5-7% and organic sales growth of 4-6% vs. estimated growth of 4.77% Y/Y. Acquisitions are anticipated to contribute approximately 1% to total sales growth.
- FY 2023 diluted EPS from continuing operations expected range of $10.00-$10.50; adjusted diluted EPS of $11.00-$11.50 vs. consensus of $11.16.
- The Company expects full year 2023 free cash flow conversion of 90 to 95% of adjusted net income.
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Hubbell reports Q4 mixed earnings; initiates FY23 outlook