Hubbell二季度业绩超预期并上调全年调整后EPS指引，但利润率压力拖累股价

Hubbell (HUBB) raised its full-year adjusted earnings outlook on Tuesday after reporting second-quarter revenue and profit that topped Wall Street expectations, but shares fell 6.1% as investors looked past the earnings beat and focused on margin pressure stemming from tariffs, inflation and acquisition-related costs.
Second-quarter revenue rose 15% to $1.71 billion, exceeding Wall Street's consensus estimate of $1.68 billion.
Adjusted earnings increased to $5.52 a share, topping analysts' expectation of $5.39 a share.
Net income fell to $240.4 million, or $4.52 a share, from $244.2 million, or $4.56 a share, a year earlier.
The company also increased its full-year adjusted earnings forecast to $20.25 to $20.55 a share, above Wall Street's consensus estimate of $19.99, while maintaining its forecast for GAAP earnings of $17.25 to $17.55 A share.
Investors, however, appeared more concerned about profitability than revenue growth. Adjusted operating margin narrowed by 50 basis points during the quarter, while Hubbell (HUBB) said higher inflation, tariffs and raw material costs continued to weigh on results despite pricing actions and productivity improvements. Margin pressure was particularly pronounced in the Electrical Solutions segment following the company's acquisition of NSI Industries.
"Hubbell delivered strong performance in the second quarter, with double digit growth in sales, adjusted operating profit and adjusted earnings per share," Chairman and Chief Executive Gerben Bakker said.
Utility solutions revenue increased 10% to $1.03 billion, supported by continued investment in grid infrastructure and grid automation. Electrical Solutions revenue climbed 25% to $686 million, helped by robust organic growth and contributions from acquisitions.
Companywide organic sales rose 10%, with management citing strong demand across utility and electrical markets driven by grid modernization, load growth and data center investment. Hubbell (HUBB) said pricing actions and productivity improvements helped offset inflation, tariffs and higher raw material costs while it continued expanding manufacturing capacity.
During the quarter, Hubbell (HUBB) completed its approximately $3 billion acquisition of NSI Industries, adding a portfolio of electrical fittings, connectors, wire management products and related electrical components that expands the company's electrical solutions business.
Hubbell (HUBB) manufactures a broad range of electrical infrastructure products under brands including Chance, Burndy, Killark, Raco, Bell and Wiegmann, serving utility, industrial and commercial customers.