Stock Track | Hubbell Stock Plunges After Sales Outlook Cut Despite Earnings Beat

Stock Track10-29

Shares of Hubbell Inc. (HUBB) plummeted nearly 6% on Monday after the electrical equipment maker reported mixed third-quarter results and lowered its full-year sales growth outlook, overshadowing an earnings beat and raised profit forecast.

The Connecticut-based company reported adjusted earnings of $4.49 per share for the third quarter, exceeding analysts' expectations of $4.46. However, revenue of $1.44 billion fell short of the $1.48 billion consensus estimate.

While Hubbell raised its fiscal 2024 adjusted earnings per share guidance to a range of $16.35 to $16.55, up from its previous forecast of $16.20 to $16.50, it lowered its total sales growth outlook to around 6% from its prior view of 7% to 8% growth. The reduced sales outlook appeared to weigh on investor sentiment, triggering the steep sell-off in Hubbell's shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1161418700?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-29 21:33","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1161418700","market":"hk","top_or_hot":-1,"title":"Stock Track | Hubbell Stock Plunges After Sales Outlook Cut Despite Earnings Beat","media":"Stock Track","content":"<p>Shares of Hubbell Inc. (HUBB) plummeted nearly 6% on Monday after the electrical equipment maker reported mixed third-quarter results and lowered its full-year sales growth outlook, overshadowing an earnings beat and raised profit forecast.</p>\n\n<p>The Connecticut-based company reported adjusted earnings of $4.49 per share for the third quarter, exceeding analysts' expectations of $4.46. However, revenue of $1.44 billion fell short of the $1.48 billion consensus estimate.</p>\n\n<p>While Hubbell raised its fiscal 2024 adjusted earnings per share guidance to a range of $16.35 to $16.55, up from its previous forecast of $16.20 to $16.50, it lowered its total sales growth outlook to around 6% from its prior view of 7% to 8% growth. The reduced sales outlook appeared to weigh on investor sentiment, triggering the steep sell-off in Hubbell's shares.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Hubbell Stock Plunges After Sales Outlook Cut Despite Earnings Beat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Hubbell Stock Plunges After Sales Outlook Cut Despite Earnings Beat\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-29 21:33 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Hubbell Inc. (HUBB) plummeted nearly 6% on Monday after the electrical equipment maker reported mixed third-quarter results and lowered its full-year sales growth outlook, overshadowing an ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HUBB","symbol_name":"哈勃集团","start_time":0,"source_url":"","article_id":"1161418700","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1161418700","pubTimestamp":1730208834,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Hubbell Inc.  plummeted nearly 6% on Monday after the electrical equipment maker reported mixed third-quarter results and lowered its full-year sales growth outlook, overshadowing an earnings beat and raised profit forecast.The Connecticut-based company reported adjusted earnings of $4.49 per share for the third quarter, exceeding analysts' expectations of $4.46. However, revenue of $1.44 billion fell short of the $1.48 billion consensus estimate.While Hubbell raised its fiscal 2024 ad","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HUBB":"哈勃集团"},"translate_title":"尽管盈利超出预期，但销售前景下调后，哈贝尔股价暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HUBB":1},"content_text":"Shares of Hubbell Inc. (HUBB) plummeted nearly 6% on Monday after the electrical equipment maker reported mixed third-quarter results and lowered its full-year sales growth outlook, overshadowing an earnings beat and raised profit forecast.\nThe Connecticut-based company reported adjusted earnings of $4.49 per share for the third quarter, exceeding analysts' expectations of $4.46. However, revenue of $1.44 billion fell short of the $1.48 billion consensus estimate.\nWhile Hubbell raised its fiscal 2024 adjusted earnings per share guidance to a range of $16.35 to $16.55, up from its previous forecast of $16.20 to $16.50, it lowered its total sales growth outlook to around 6% from its prior view of 7% to 8% growth. The reduced sales outlook appeared to weigh on investor sentiment, triggering the steep sell-off in Hubbell's shares.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1161418700"}