Hubbell Inc has reported good operating results for the year ending 31 December 2018.
Net sales were $4.5 billion, an increase of 22 percent over 2017. Operating income less costs related to an acquisition came in at $607 million, a 17 percent gain on the $526 million reported in the same period of 2017.
Q4 was particularly strong, said David G. Nord, Hubbell’s Chairman, President and CEO. “All major end markets once again expanded and we saw notable strength in core industrial, outside-plant-telecommunications, and gas distribution. Lighting markets were stronger than initially anticipated, primarily driven by strength in Residential.”
As for the fiuture: “Looking forward, we are increasing our investment in footprint consolidation to accelerate benefits from operational efficiencies and cost reduction … We are taking aggressive and decisive actions today to position Hubbell to outperform.”