financetom
Business
financetom
/
Business
/
Hubbell beats quarterly profit estimates, driven by demand in utilities unit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hubbell beats quarterly profit estimates, driven by demand in utilities unit
Feb 4, 2025 8:55 AM

Feb 4 (Reuters) - Electrical equipment maker Hubbell

beat estimates for fourth-quarter profit on Tuesday,

helped by strong demand in its utility segment for devices used

in power grids.

Hubbell, which manufactures and sells electrical and utility

solutions, has benefitted from ongoing upgrades to the U.S.

power grid system.

Sales in the company's utilities solutions unit rose 4.4% to

$847.1 million.

The Shelton, Connecticut-based company reported an adjusted

profit of $4.10 per share for the quarter ended Dec. 31,

compared with analysts' average estimates of $4.02 per share,

according to data compiled by LSEG.

Its revenue fell about 1% year-on-year to $1.33 billion,

compared with an estimate of $1.41 billion, due to weakness in

grid automation and electrical business.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Sector Update: Consumer
Sector Update: Consumer
May 26, 2025
08:58 AM EDT, 05/12/2025 (MT Newswires) -- Consumer stocks edged higher pre-bell Monday as the Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) advanced by 5.3% recently. Scale AI, which counts Amazon ( AMZN ) among its investors, plans to establish a presence in Saudi Arabia by year-end as...
Chegg to lay off 22% of workforce as AI tools shake up edtech industry
Chegg to lay off 22% of workforce as AI tools shake up edtech industry
May 26, 2025
May 12 (Reuters) - Chegg ( CHGG ) said on Monday it would lay off about 22% of its workforce, or 248 employees, to cut costs and streamline its operations as students increasingly turn to AI-powered tools such as ChatGPT over traditional edtech platforms. The company, an online education firm that offers textbook rentals, homework help and tutoring, has been...
Seagate Technology to Offer $400 Million in Senior Notes in Private Placement
Seagate Technology to Offer $400 Million in Senior Notes in Private Placement
May 26, 2025
08:58 AM EDT, 05/12/2025 (MT Newswires) -- Seagate Technology ( STX ) said Monday it plans to offer $400 million in senior notes due 2030 through a private placement to qualified institutional buyers. The company said it also issued a notice of conditional full redemption for all outstanding 4.875% senior notes due 2027. The redemption will be executed at 100%...
Copyright 2023-2026 - www.financetom.com All Rights Reserved