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2020 guidance was withdrawn due to the uncertainty related to the COVID-19 pandemic.

Total Revenue

$1.09B

Previous year: $1.09B