Hubbell Incorporated (NYSE:HUBB) Q1 2024 Earnings Call Transcript

Bill Sperry: Yeah. I think you point out a good point that our distribution products, by and large, the lead times are quite normalized, very quick to be able to satisfy demand. Ultimately, products like transformers are still gapped out in terms of lead time. And so I think that makes project planning a little more difficult. And some of our products may suffer a little bit from that. But generally, we’re giving now good visibility, hitting on time promise dates. And I think our part is much more predictable than it had been 1.5 year or so ago. So — but I agree with you, there still are other long lead time products. And on the transmission side, it’s — we have some long lead time items too. So — but distribution, I think you’re right. It’s — our stuff is ready to go.

Joe O’Dea: Understood. Thanks a lot.

Operator: One moment for the next question. The next question comes from Scott Graham with Seaport Research Partners. Your line is open.

Scott Graham: Hey, good morning. Thanks for taking my question. I have one and one follow-up. On HUS, would it be fair to say second quarter sales volumes flat, or can they be up? And then obviously second half is up? And I have that follow-up.

Dan Innamorato: Yeah. So, Scott, we’re not giving quarterly guidance. I think the Slide 8 should give you good considerations of how we’re viewing it sequentially and how the comparisons play out in 2Q in the second half.

Scott Graham: No problem. Thank you. You made a comment in the HES slide on project activity. Could you elaborate on that a bit?

Bill Sperry: Just think there’s some big projects out there and things like chip plants and reshoring of large-scale industrial projects that are multi-year projects are products tend to go in mid and late cycle on that construction. And so, to us, that’s a great leading indicator as we see those projects get started. And we’re quite confident we’ll get our fair share of that mid- and late-cycle install components.

Scott Graham: Got it. Thank you.

Operator: I show no further questions at this time in the queue. I would like to turn the call back over to Dan for closing remarks.

Gerben Bakker: Great. I’ll take it from Dan. I appreciate everybody’s time, as Bill said, on a busy morning. We really look forward to spending time with you in June at our Investor Day, we’ll talk a lot more there about where our business is going in the next three years. And certainly, we’re excited about this — what we’ve been stating of building a profitable growth on this base that we’ve built and those are kind of the expectations you could have as we go into June. So thanks much, and we’ll see you soon.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.