Hubbell falls on mixed Q1 results

Hubbell

30/04/2024 16:22

** Electrical equipment maker Hubbell's shares  HUBB.N  fall
7% to $378.66
    ** HUBB reports Q1 profit slightly above analysts'
estimates, on strong demand from utilities for its smart meters
and control devices used in power grids
    ** Posts adjusted EPS of $3.60 per share, below $3.61 a year
ago, but above estimates of $3.58 - LSEG data
    ** Co reiterates 2024 adjusted EPS forecast range of $16 to
$16.50
    ** Q1 revenue rises ~9% to about $1.4 bln, marginally above
estimates of $1.39 bln
    ** Stock up ~15% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))