Hubbell Inc. (HUBB), a prominent manufacturer of electrical and electronic products, reported a rise in fourth-quarter profit exceeding market expectations while providing a promising fiscal outlook for 2025 anticipating year-over-year growth. Contrarily, the quarterly revenues saw a slight decline, falling short of Wall Street predictions.
Before the market opened on the NYSE, Hubbell's shares were down 7% at $380.00.
Looking forward to the full year 2025, Hubbell projects earnings per share from continuing operations in the $16.00 to $16.50 range, with adjusted earnings per share expected to fall between $17.35 and $17.85. This falls slightly short of analysts’ average forecast of $17.70 per share, which usually omits special items.
For fiscal 2024, Hubbell reported earnings of $14.37 per share with adjusted figures at $16.57 per share. The company also forecasts a total and organic sales growth of 4% to 5% for fiscal 2025.
Gerben Bakker, the Chairman, President, and CEO, stated, "We are confident in our ability to deliver on our initial 2025 outlook, which anticipates continued attractive growth in net sales, operating margin, operating profit, and free cash flow. Our outlook aligns with our long-term financial framework, which we believe will result in differentiated performance for our shareholders in 2025 and beyond."
During the fourth quarter, Hubbell reported earnings of $197.0 million, or $3.64 per share, compared to $171.0 million or $3.16 per share in the previous year. Adjusted earnings amounted to $221.8 million or $4.10 per share, slightly above analyst expectations of $4.02 per share.
Revenue for the period decreased by 0.8% to $1.334 billion, down from $1.345 billion in the previous year, not meeting the Street’s expectation of $1.41 billion for the quarter.
