Hubbell Inc (HUBB) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Hubbell Inc
Ticker: HUBB CIK: 48898

Exhibit 99.1




Date:	October 23, 2018	NEWS RELEASE

		Hubbell Incorporated 40 Waterview Drive Shelton, CT 06484 475-882-4000

HUBBELL REPORTS THIRD QUARTER RESULTS;

NET SALES OF $1.18 BILLION AND EARNINGS PER DILUTED SHARE OF $2.06, ADJUSTED EARNINGS PER DILUTED SHARE OF $2.22⁽¹⁾


•	Q3 net sales up 24% (acquisitions +19%, organic +5%)


•	Q3 diluted EPS of $2.06; adjusted diluted EPS of $2.22⁽¹⁾


◦	Includes legacy intangible asset amortization ($0.12)


◦	Adjusted excludes Aclara acquisition-related costs ($0.16)


•	Q3 free cash flow up 113% to $164 million


•	Raise full year diluted EPS guidance to $6.40-$6.50; adjusted diluted EPS $7.20-$7.30⁽¹⁾

SHELTON, CT. (October 23, 2018) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the third quarter ended September 30, 2018.

Net sales in the third quarter of 2018 were $1.18 billion, an increase of 24% compared to the $951 million reported in the third quarter of 2017. Operating income in the quarter was $164 million as compared to $150 million in the same period of 2017. Excluding Aclara acquisition-related costs (which affected only the 2018 period), operating income was $174 million in the third quarter of 2018⁽¹⁾. The effective tax rate in the quarter of 19.5% benefited from adjustments related to U.S. Tax Reform and compares to 33.0% in the third quarter of 2017. Net income attributable to Hubbell in the third quarter of 2018 was $114 million compared to $81 million reported in the comparable period of 2017. Earnings per diluted share for the third quarter of 2018 were $2.06 compared to $1.47 reported in the third quarter of 2017. Adjusted earnings per diluted share were $2.22 in the third quarter of 2018compared to $1.58 in the comparable period of 2017⁽¹⁾.

The following information was filed by Hubbell Inc (HUBB) on Tuesday, October 23, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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