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Sep 30, 2022
Hubbell Q3 2022 Earnings Report
Reported strong Q3 2022 results with significant operating margin expansion and operating profit growth.
Key Takeaways
Hubbell reported a strong third quarter with net sales up 21% and organic sales up 20%. Diluted EPS was $2.78, and adjusted diluted EPS was $3.08. The company raised its full-year EPS guidance to $9.10-$9.30 and adjusted diluted EPS to $10.25-$10.45.
Q3 diluted EPS of $2.78; adjusted diluted EPS of $3.08
Q3 net sales +21% (organic +20%)
Operating margin expansion of 200 bps; adjusted operating margin expansion of 190 bps
Raised FY22 diluted EPS to $9.10-$9.30; adjusted diluted EPS of $10.25-$10.45
Revenue by Segment
Forward Guidance
For the full year 2022, Hubbell anticipates diluted earnings per share in the range of $9.10-$9.30 and anticipates adjusted diluted earnings per share in the range of $10.25-$10.45. Hubbell anticipates full year 2022 total sales growth of +18-19% and organic net sales growth of +17-18%, as compared to full year 2021.
Positive Outlook
- Full year 2022 total sales growth of +18-19%
- Organic net sales growth of +17-18%
- Net M&A contributing +1% to full year sales growth
- Net M&A contributing approximately $0.10 of full year Adjusted EPS
- Full year 2022 free cash flow conversion of approximately 90% of adjusted net income
Challenges Ahead
- Anticipates amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.05 for the full year
- Anticipates approximately $0.10 due to a pension settlement charge
- Anticipates accelerated investments in the fourth quarter of 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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