Hubbell Reiterated FY24 Adj EPS of $16.00-$16.50 Vs. $16.43 Est, 8%-10% Sales Growth YoY Vs. $5.8B Est, Organic Net Sales Growth 3%-5% YoY
Portfolio Pulse from Benzinga Newsdesk
Hubbell projects FY24 Adjusted EPS of $16.00-$16.50, aligning with a $16.43 estimate, and forecasts 8%-10% sales growth YoY, versus a $5.8B estimate. The company expects organic net sales growth of 3%-5% YoY. Adjusted EPS factors out amortization of acquisition-related intangible assets, a loss on the residential lighting business disposition, and transaction costs. Hubbell also anticipates acquisitions net of divestitures to contribute 5% to sales growth, with a diluted EPS of $14.10-$14.60 after adjustments, aiming for a full year 2024 free cash flow of approximately $800 million.
April 30, 2024 | 11:35 am
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Hubbell projects FY24 Adjusted EPS of $16.00-$16.50, closely matching the $16.43 estimate, and anticipates 8%-10% sales growth YoY against a $5.8B estimate, with organic net sales growth of 3%-5% YoY.
Hubbell's reaffirmation of its FY24 financial outlook, including Adjusted EPS and sales growth, directly impacts investor sentiment and stock performance. The alignment of its Adjusted EPS forecast with analyst estimates and the projected sales growth indicate a positive outlook for the company's financial health and operational efficiency. This news is likely to be viewed favorably by investors, potentially leading to a positive short-term impact on HUBB's stock price.
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