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

Hubbell Inc

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CIK: 48898 Ticker: HUBB

Exhibit 99.1
 g667334img1a01a02.jpg        
 
 
 
 
 
 
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 2018 compared to $1.58 in the comparable period of 2017(1).

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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Inside Hubbell Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Income
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss - Changes In Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss - Reclassifications (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation
Basis Of Presentation - Schedule Of New Accounting Pronouncements And Changes (Details)
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Business Acquisitions
Business Acquisitions - Narrative (Details)
Business Acquisitions - Pro-Forma Nonrecurring Adjustments (Details)
Business Acquisitions - Schedule Of Preliminary Purchase Price Allocation To Identified Intangible Assets Acquired (Details)
Business Acquisitions - Summary Of Preliminary Estimate Of The Assets Acquired And Liabilities Assumed (Details)
Business Acquisitions - Summary Of Pro Forma Information (Details)
Business Acquisitions (Tables)
Commitments And Contingencies
Commitments And Contingencies Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurement
Fair Value Measurement - Cash Flow Hedging Relationships (Details)
Fair Value Measurement - Financial Assets And Liabilities By Hierarchy Level (Details)
Fair Value Measurement (Tables)
Fair Value Measurement - Narrative (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net - Narrative (Details)
Goodwill And Intangible Assets, Net - Other Intangible Assets (Details)
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Changes In Goodwill (Details)
Guarantees
Guarantees (Details)
Guarantees (Tables)
Inventories, Net
Inventories, Net (Details)
Inventories, Net (Tables)
Long Term Debt And Financing Arrangements
Long Term Debt And Financing Arrangements - Narrative (Details)
Long Term Debt And Financing Arrangements - Schedule Of Long Term Debt (Details)
Long Term Debt And Financing Arrangements (Tables)
Other Accrued Liabilities
Other Accrued Liabilities (Details)
Other Accrued Liabilities (Tables)
Other Non-Current Liabilities
Other Non-Current Liabilities (Details)
Other Non-Current Liabilities (Tables)
Pension And Other Benefits
Pension And Other Benefits - Narrative (Details)
Pension And Other Benefits (Details)
Pension And Other Benefits (Tables)
Restructuring Costs And Other
Restructuring Costs And Other - By Segment (Details)
Restructuring Costs And Other - Reserve (Details)
Restructuring Costs And Other - Summary Of Costs (Details)
Restructuring Costs And Other (Tables)
Restructuring Costs And Other - Narrative (Details)
Revenue
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Revenue (Tables)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Total Equity
Total Equity - Changes In Equity (Details)
Total Equity - Composition Of Equity (Details)
Total Equity (Tables)
Ticker: HUBB
CIK: 48898
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-18-012833
Submitted to the SEC: Wed Oct 24 2018 8:16:23 AM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Electronic Components And Accessories

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