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Sep 30, 2023
Hubbell Q3 2023 Earnings Report
Hubbell reported strong earnings growth driven by margin expansion and effective execution on price, cost, and productivity.
Key Takeaways
Hubbell's Q3 2023 results showed a 5% increase in net sales and significant margin expansion. The company's performance reflects continued execution off of a strong first half in 2023.
Q3 diluted EPS from continuing operations was $3.70; adjusted diluted EPS from continuing operations was $3.95.
Q3 net sales increased by 5% (organic +4%, acquisitions +1%).
Operating margin expansion of 460 bps; adjusted operating margin expansion of 440 bps.
FY23 diluted EPS from continuing operations is expected to be $14.00-$14.25; adjusted diluted EPS of $15.00-$15.25.
Forward Guidance
Hubbell anticipates full year 2023 total sales growth of approximately 8% and organic net sales growth of approximately 7%, as compared to full year 2022. The Company anticipates net M&A contributing +1% to full year sales growth. The Company continues to expect full year 2023 free cash flow to be greater than $700 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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