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Mar 31, 2020
Hubbell Q1 2020 Earnings Report
Hubbell reported flat net sales with solid operating performance, driven by utility markets and strong free cash flow, while facing challenges from COVID-19 disruptions.
Key Takeaways
Hubbell's Q1 2020 earnings showed flat net sales and solid operating performance, driven by strong demand in utility markets. The company faced challenges from COVID-19 disruptions, which impacted earnings by approximately $0.10 per diluted share. Despite these headwinds, Hubbell maintained strong free cash flow and implemented cost management actions to navigate the uncertain environment.
Net sales remained flat year-over-year, with organic sales also flat.
Diluted EPS was reported at $1.37, and adjusted diluted EPS at $1.64, including restructuring and related investment costs.
Free cash flow for the quarter was $91 million, driven by working capital management.
2020 guidance was withdrawn due to the uncertainty related to the COVID-19 pandemic.
Hubbell
Hubbell
Forward Guidance
Due to uncertainty relating to COVID-19 pandemic, 2020 guidance was withdrawn.