Hubbell reports Q2 adjusted EPS $4.93, consensus $4.40

Reports Q2 revenue $1.484B, consensus $1.51B. “Hubbell (HUBB) delivered double digit adjusted earnings per share growth in the second quarter, driven by strong organic growth in Grid Infrastructure and Electrical Solutions, as well as year-over-year margin expansion” said Gerben Bakker, Chairman, President and CEO. Bakker continued, “In our Utility Solutions segment, Grid Infrastructure achieved 7% organic growth in the quarter. Demand for substation and transmission products remains robust as utility customers invest to accommodate load growth, and distribution markets returned to growth in the quarter. Grid Automation sales were down double digits in the quarter, driven by weak meters and AMI project activity, while protection and controls products continued to contribute solid growth. In Electrical Solutions, 4% organic growth was driven by strength in datacenter markets. Execution on our segment unification strategy continues to drive growth through innovation and commercial alignment, along with operating efficiencies and margin expansion. Operationally, price and productivity exceeded cost inflation across both segments in the quarter.”