HUBB - Hubbell rises 4% on guiding EPS and revenue above street expectations

Hubbell (HUBB) +4% on beating estimates on top and bottom line. The company beats street consensus by 26 cents and revenue by $70M. The company reported GAAP EPS of $1.88 and Adj. EPS of $2.12. Adjusted EPS excludes $0.24 of amortization of acquisition-related intangible assets. Revenue of $1.16B, up 21% on both strong price traction and volume growth. Price realization of 12% continued to accelerate sequentially offsetting inflationary headwinds, and price/material turned positive in the quarter. Volumes grew sequentially and year-over-year. Revenue breakdown: Q1 electrical solutions net sales increased 19% Y/Y to $504M. Q1 utility solutions increased 22% Y/Y to $652M, led by 23% increase in organic net sales and dispositions reducing sales by 1% Free cash flow was a $35.8M.   FY22 Outlook: GAAP EPS in the range of $8.00-$8.40 and expects adjusted EPS of $9.00-$9.40 (excludes $1.00 amortization of acquisition-related intangible assets) vs. $9.09 consensus. Total sales growth and organic net sales growth of 11-13% vs.

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Hubbell rises 4% on guiding EPS and revenue above street expectations