Here's some of what top execs of publicly traded electrical companies were saying about the outlook ahead in their most recent round of earnings releases. For a more comprehensive summary, go to electricalmarketing.com.
“Looking into 2011, Hubbell's largest served market, non-residential construction, is forecasted to decline modestly,” said Timothy Powers, chairman, president and CEO. “Within the non-residential market, public sector spending is likely to continue to benefit from the Federal stimulus plan. In addition, we expect to continue to realize the benefits of higher demand for our energy efficient products in the relight, renovation and building controls areas. The utility market is expected to grow with higher demand for our distribution products that maintain the infrastructure. We also expect increased spending on transmission projects as previously delayed projects begin in 2011. The industrial markets are expected to expand in the coming year with capacity utilization rates increasing and higher spending on oil and gas projects. The residential market is forecasted to improve; however, the recovery could be slow as the existing supply of inventory, including foreclosures, and high levels of unemployment are impediments to growth. So, overall, we expect our sales to increase modestly in 2011 compared to 2010.”
“We believe that the global economic recovery will continue in fiscal 2011,” said Keith Nosbusch, chairman and CEO. “We are starting to see signs that large capital project spending will improve, but timing remains somewhat uncertain.”
General Cable Corp.
“We remain cautious as economic data continues to be mixed, demand remains near historically low levels in many of our end-markets, value-added pricing continues to be challenged and the sustainability of certain demand patterns beyond year-end remain uncertain, particularly in developed markets,” said Greg Kenny, president and CEO.