Shares of electrical and utility solutions provider Hubbell Incorporated (HUBB) are falling more than 9% Tuesday morning after the company’s third-quarter results fell short of analysts’ view.
Net income from continuing operations was $200.1 million or $3.70 per share, up from $150.3 million or $2.78 per share a year ago.
Excluding one-time items, earnings of $3.95 per share missed the average estimate of analysts polled by Thomson-Reuters of $4.05 per share.
Net sales increased to $1.376 billion from $1.316 billion a year ago, but below the consensus estimate of $1.39 billion.
HUBB, currently at $255.67, has traded in the range of $219.77-$340.06 in the last 1 year.
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