Hubbell Inc. (NYSE:HUBB) Q1 2019 Earnings Conference Call Transcript

Apr 30, 2019 • 10:00 am ET


Hubbell Inc. (NYSE:HUBB) Q1 2019 Earnings Conference Call Transcript


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Good morning, ladies and gentlemen, my name is Jerome, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Quarter 2019 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

Now, it's my pleasure to hand the call over to your host, Ms. Maria Lee, Treasurer and Vice President, Investor Investor Relations.

The floor is yours.

Maria Ricciardone Lee

Great, thank you. Good morning everybody and thanks for joining us. I'm joined today by our Chairman, President and CEO, Dave Nord, and our Senior Vice President and CFO, Bill Sperry. Hubbell announced its first quarter results for 2019 this morning. The press release and earnings slide materials have been posted to the Investor section of our website at

Please note that our comments this morning may include statements related to the expected future results of our company and are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Therefore, please note the discussion of forward-looking statements in our press release and consider it incorporated by reference into this call.

In addition, comments may also include non-GAAP financial measures. Those measures are reconciled to the comparable GAAP measures, and are included in the press release and the earnings slide materials.

Now, let me turn the call over to, Dave.

David G. Nord

All right. Thanks Maria. Thanks everybody. Good morning. I know it's a busy, morning this morning. It appears that April 30th has become a very popular day from when we first decided to move. Our earnings out. (Technical Difficulty) and our ability to deliver differentiated results over the long term.

A couple of key items in the first quarter, let me talk to, and I'm on page three of the slide deck that we sent out. As mentioned, first and foremost , strong organic growth with end-markets steady growing modestly. Most of our end markets were up in the quarter, with particular strength in the industrial gas distribution and Electrical T&D. Importantly and one of the key topics we talked about, certainly for the second half of last year was around pricing, and our pricing actions continue to gain traction and we've turned the corner on price cost, which was a net positive for us in the quarter, after being a headwind throughout all of 2018.

We're actively managing price across the portfolio, and remain focused on competing in areas where we can offer differentiated value and earn attractive returns. This is particularly true, in lighting, where we're starting to see the hard work Kevin and his team has put into his business over the last several years, and really is starting to pay off.

True overall, but especially in lighting. As we said in the past, we remain disciplined and not chasing after low margin business and are comfortable with the trade-off that entails on the buying side, and you