Yahoo Finance Earnings To Watch: Hubbell (HUBB) Reports Q2 Results Tomorrow
Electrical and electronic products company Hubbell (NYSE:HUBB) will be reporting earnings tomorrow before the bell. Here's what you need to know.
Hubbell beat analysts' revenue expectations by 1.4% last quarter, reporting revenues of $1.40 billion, up 8.8% year on year. It was an ok quarter for the company, with a narrow beat of analysts' earnings estimates.
Is Hubbell a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Hubbell's revenue to grow 8.6% year on year to $1.48 billion, in line with the 8.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.21 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hubbell has missed Wall Street's revenue estimates three times over the last two years.
Looking at Hubbell's peers in the electrical systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Whirlpool's revenues decreased 16.8% year on year, meeting analysts' expectations, and Allegion reported revenues up 5.8%, topping estimates by 1.1%. Whirlpool traded up 2.9% following the results while Allegion was also up 4.4%.
Read our full analysis of Whirlpool's results here and Allegion's results here.
There has been positive sentiment among investors in the electrical systems segment, with share prices up 10.9% on average over the last month. Hubbell is up 2.2% during the same time and is heading into earnings with an average analyst price target of $415.4 (compared to the current share price of $367.09).
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