IMAGE COURTESY HUBBELLElectrical components manufacturer Hubbell today released the financial results for the 2024 fourth quarter.
The electrical solutions segment, which includes such marine products as shore power components, reported net sales of $487 million for the quarter, a year-over-year decline of $47 million. Segment operating income was $92 million compared with $83 million in the year-ago quarter. Adjusted operating income was $97 million, up from $88 million a year ago.
“Hubbell delivered double-digit growth in operating profit, earnings per share and free cash flow in the fourth quarter,” chairman, president and CEO Gerben Bakker said in a statement. “While organic growth was below our expectations in the quarter, continued operational execution resulted in significant margin expansion, and we delivered earnings per share ahead of our prior outlook range.”
Hubbell anticipates total sales growth and organic sales growth of 4% to 5% for all segments in 2025. It also expects GAAP diluted earnings per share from continuing operations in the range of $16 to $16.50 and adjusted diluted earnings per share from continuing operations in the range of $17.35 to $17.85.
