By Denny Jacob
Hubbell reported an increase in fourth-quarter profit despite sales declining slightly.
The maker of utility and electrical products logged net income of $197 million, or $3.64 a share, from $171 million, or $3.16 a share, a year earlier.
Stripping out certain one-time items, earnings came in at $4.10a share. Analysts polled by FactSet expected $4.02 a share.
Sales ticked down $1.33 billion from $1.35 billion. Analysts polled by FactSet expected $1.41 billion.
"While organic growth was below our expectations in the quarter, continued operational execution resulted in significant margin expansion and we delivered earnings per share ahead of our prior outlook range," said Chief Executive Gerben Bakker.
For 2025, Hubbell forecast sales growth in the range of 4% and 5% as well as adjusted earnings per-share between $17.35 and $17.85. Analysts polled by FactSet expected adjusted earnings of $17.75 a share.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 04, 2025 08:04 ET (13:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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