SHELTON, Conn. (AP) — SHELTON, Conn. (AP) — Hubbell Inc. (HUBB) on Thursday reported first-quarter profit of $169.7 million.
On a per-share basis, the Shelton, Connecticut-based company said it had net income of $3.15. Earnings, adjusted for one-time gains and costs, were $3.50 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.73 per share.
The electrical products manufacturer posted revenue of $1.37 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $1.38 billion.
Hubbell expects full-year earnings in the range of $17.35 to $17.85 per share.
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