May. 1 at 11:38 AM
$HUBB Hubbell reports Q1 adjusted EPS
$3.50, consensus
$3.72
Reports Q1 revenue
$1.365B, consensus
$1.39B. "Our results in the first quarter were driven by continued strong operating performance in our Electrical Solutions segment and a return to organic growth in Grid Infrastructure, offset by anticipated softness in Grid Automation and the impact of higher cost inflation" said Gerben Bakker, Chairman, President and CEO. continued, "Electrical Solutions organic growth of 5% was driven by strength in datacenter markets, as well as continued execution on our segment unification strategy to drive outgrowth through innovation and commercial alignment.
Execution on this strategy also continued to drive operating margin expansion and adjusted operating profit growth in the quarter... As anticipated, Grid Automation sales were down double digits in the first quarter on challenging prior year comparisons. Operationally, while we continued to deliver favorable price realization and productivity across both segments, recent cost increases driven by raw material inflation and tariffs resulted in a net price/cost/productivity headwind in the first quarter."
