Power equipment maker Hubbell raises annual profit forecast on strong data center demand

Reuters
2025/07/29
Power equipment maker Hubbell raises annual profit forecast on strong data center demand

July 29 (Reuters) - Electrical equipment maker Hubbell HUBB.N raised its full-year profit forecast on Tuesday, betting on strong demand for products used by data centers needed for artificial intelligence.

The development of data centers is a crucial step in building key infrastructure required for tackling complex tasks employed by generative AI.

The Connecticut-based company, which makes and sells products including wiring and lighting systems, expects 2025 adjusted profit to be between $17.65 and $18.15 per share, compared with its earlier forecast of $17.35 to $17.85 per share.

Net sales in its electrical solutions segment, which sells wiring devices and other electrical products, rose 4% during the second quarter, "driven by strength in data center markets".

Its utility solutions segment posted net sales increase of 1%. That was aided by 7% growth in the power grid infrastructure end-markets, which offset a decline in sales for grid automation products during the quarter.

The company's total net sales for quarter ended June 30 was $1.48 billion, up 2.2% from a year earlier. Analysts on average estimated $1.51 billion, according to data compiled by LSEG.

It posted an adjusted profit of $4.93 per share, compared with the estimate of $4.41 per share.

(Reporting by Aishwarya Jain and Aatreyee Dasgupta in Bengaluru; Editing by Shilpi Majumdar)

((Aishwarya.Jain@thomsonreuters.com))

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10