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.