Shelton, CT, June 07, 2022 (GLOBE NEWSWIRE) --
- Highlights long-term strategy for value creation
- Anticipates double-digit adjusted EPS growth through 2025
- Tracking to upper half of previously communicated outlook range for 2022 results
Hubbell Incorporated (NYSE: HUBB) is hosting its 2022 Investor Day today beginning at 8:30 a.m. ET. During the event, Hubbell leadership will provide details on the Company’s long-term strategy for growth and margin expansion, as well as cash flow generation and deployment. The Company will also provide an update on near-term trends, including an expectation to deliver 2022 adjusted EPS and diluted earnings per share within the upper half of its previously communicated outlook ranges of $9.00 to $9.40 per share and $8.00 to $8.40, respectively. Adjusted EPS, a non-GAAP measure, excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.00 per share for the full year. The Company believes Adjusted EPS is a useful measure of underlying performance in light of its acquisition strategy and core operations.
“Hubbell’s leading positions in front of and behind the meter strategically align our Utility Solutions and Electrical Solutions segments around attractive long-term trends in grid modernization and electrification,” said Gerben Bakker, Hubbell’s Chairman, President and Chief Executive Officer. “We believe that we are well positioned to generate long-term value for our customers through reliable and efficient critical infrastructure solutions, as well as for our shareholders through consistent growth, margin expansion, cash generation and capital deployment. Our leadership team looks forward to building on Hubbell’s 130+ year performance legacy to evolve for the future while sustaining our foundational strengths.”
Hubbell’s investor meeting, along with the corresponding presentation, can be accessed through the Investor section of Hubbell’s website at www.hubbell.com.
Forward Looking Statements
Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements about expectations regarding our financial results, condition and outlook, anticipated end markets, near-term volume, and continued opportunity for operational improvement. In addition, all statements regarding anticipated growth, changes in operating results, market conditions and economic conditions are forward-looking. These statements may be identified by the use of forward-looking words or phrases such as “believe”, “expectation”, “anticipate”, “tracking”, “should”, “could”, “may”, "subject to", “continues”, “growing”, “projected”, “if”, “potential”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or the Company’s achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: our ability to effectively execute our business plan in light of the ongoing and dynamic COVID-19 pandemic; the effectiveness of the actions that we take to address the effects of the COVID-19 pandemic; the outcome of contingencies or costs compared to amounts provided for such contingencies, including those with respect to pension withdrawal liabilities; achieving sales levels to meet revenue expectations; unexpected costs or charges, certain of which may be outside the Company’s control; the effects of trade tariffs, import quotas and other trade restrictions or actions taken by the U.S., U.K., and other countries, including changes in U.S. trade policies; changes in product sales prices and material costs; failure to achieve projected levels of efficiencies, cost savings and cost reduction measures, including those expected as a result of our lean initiatives and strategic sourcing plans; effects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to fluctuating rates of foreign currency exchange on inventory purchases; regulatory issues, changes in tax laws, or changes in geographic profit mix affecting tax rates and availability of tax incentives; general economic and business conditions as well as inflationary trends; the impact of and the ability to complete and integrate strategic acquisitions; the impact of certain divestitures, including the benefits and costs of, the recent sale of the Commercial and Industrial Lighting business to GE Current, a Daintree Company; the ability to effectively develop and introduce new products, expand into new markets and deploy capital; and other factors described in our Securities and Exchange Commission filings, including the "Business", "Risk Factors", “Forward-Looking Statements” and "Quantitative and Qualitative Disclosures about Market Risk" Sections in the Annual Report on Form 10-K for the year ended December 31, 2021 and Quarterly Reports on Form 10-Q.
About the Company
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2021 revenues of $4.2 billion, Hubbell solutions empower and energize communities in front of and behind the meter. The corporate headquarters is located in Shelton, CT.
40 Waterview Drive
PO Box 1000
Shelton, CT 06484