April 30 (Reuters) - Electrical equipment maker Hubbell

on Tuesday reported a better-than-expected profit for

the first quarter, bolstered by strong demand from utilities for

its smart meters and control devices used in power grids.

Hubbell has benefited from the electrification and

modernization of the U.S. power grid. The improved availability

of semiconductors that are used in its communication and control

devices also helped boost sales.

Sales at Hubbell's utility segment, which made up 61% of

total revenues in 2023, increased 14% from a year earlier.

The Connecticut-based company reported a first-quarter

adjusted profit of $3.60 per share, above analysts' average

expectations of $3.58 per share, according to LSEG data.

Revenue rose 8.8% to about $1.4 billion, slightly above

estimates of $1.39 billion.

Hubbell maintained its 2024 adjusted profit per share

forecast of $16 to $16.50.

(Reporting by Kannaki Deka in Bengaluru; Editing by Devika

Syamnath)