Hubbell beats 4Q profit forecasts
Hubbell tops 4Q profit expectations, misses revenue forecasts
SHELTON, Conn. (AP) _ Hubbell Inc. (HUBB) on Tuesday reported fourth-quarter earnings of $64.4 million.
On a per-share basis, the Shelton, Connecticut-based company said it had net income of $1.16. Earnings, adjusted for restructuring costs, were $1.35 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The electrical products manufacturer posted revenue of $854.2 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $857.7 million.
For the year, the company reported profit of $293 million, or $5.24 per share. Revenue was reported as $3.51 billion.
Hubbell shares have climbed 1 percent since the beginning of the year. The stock has climbed 33 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HUBB at https://www.zacks.com/ap/HUBB
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Keywords: Hubbell, Earnings Report
