Hubbell Incorporated reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company's net sales were $918 million, an increase of 7% compared to the $854 million reported in the same period of 2016. Operating income was $123 million, or 13.4% of net sales, as compared to $108 million, or 12.6% of net sales, in the same period of 2016. Net income attributable to the company was $20 million as compared to $64 million reported in the same period of 2016. Adjusted net income, which excludes U.S. tax reform and Aclara transaction costs from 2017 as well as restructuring and related costs in both periods, was $85 million in the fourth quarter of 2017, compared to $75 million in the same period of 2016. Earnings per diluted share were $0.37, compared to $1.16 in the fourth quarter of 2016. Adjusted earnings per diluted share were $1.54 compared to $1.35 in the same period of 2016. Net cash provided from operating activities was $150 million. Free cash flow was $124 million in the fourth quarter of 2017 against of $120 million reported in the comparable period of 2016. Income before income taxes were $111.9 million compared to $97.9 million a year ago.

For the full year of 2017, the company's net sales were $3.7 billion, an increase of 5% compared to the full year 2016. Operating income was $504 million compared to $478 million for the comparable period of 2016. Excluding restructuring and related costs and Aclara transaction costs, adjusted operating income was $534 million compared to $513 million in the same period of 2016. Net income attributable to the company was $243 million compared to the $293 million reported in 2016. Earnings per diluted share were $4.39 for 2017 and $5.24 for 2016. Excluding restructuring and related costs in both years, as well as Aclara transaction costs, U.S. Tax Reform, and refinancing costs in 2017, adjusted earnings per diluted share were up 5% to $5.93, compared to $5.66 in the same period of 2016. Net cash provided from operating activities was $379 million compared to $411 million reported in 2016. Free cash flow was $299 million compared to $344 million reported in 2016. Income before income taxes were $443.1 million compared to $430.4 million a year ago.

For the full year 2018, the company expects end market growth of approximately 2% to 4% in the aggregate and acquisitions, including the Aclara acquisition, assuming a first quarter 2018 close, to contribute approximately 15% to net sales. This end market outlook includes growth of 3% to 5% for oil and gas; 2% to 4% for Electrical T&D, Industrial and Residential; and 1% to 3% for non-residential markets. The company expects 2018 reported diluted earnings per share in the range of $6.10 to $6.50 and adjusted diluted earnings per share in the range of $6.95 to $7.35.