Movement Alert｜Hubbell Falls 5.08% in Regular Trading, Q3 Beat and Raised Full-Year Outlook Fail to Lift Shares

Market Focus10-28 01:35

On October 28, Hubbell fell 5.08% in Regular Trading, trading near $436.2 per share, with turnover of $387 million.

The move followed the company’s latest quarterly release: third-quarter adjusted EPS was $5.91 versus a $5.75 market expectation, while revenue reached $1.872 billion, above the $1.849 billion consensus. Net sales rose about 25% year over year, including 11% organic growth and 13% from acquisitions.

Management also lifted full-year adjusted EPS guidance to $20.40-$20.60 from $20.25-$20.55 and projected full-year sales growth of 18% to 19%. Although both results and guidance were ahead of expectations, the stock still came under pressure in the session following the announcement.

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