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Hubbell Incorporated (NYSE: HUBB) is a leading global manufacturer of high-quality electrical and electronic products designed for diverse residential, commercial, industrial, and utility applications. Based in Shelton, Connecticut, Hubbell achieved revenues of $4.6 billion in 2019, and continues to innovate and grow, reaching $5.4 billion in revenues for 2023.
The company operates through two primary segments: Utility Solutions Segment and Electrical Solutions Segment. The Utility Solutions Segment, which generates the majority of Hubbell’s revenue, focuses on transmission and distribution products, utility communication and controls, and other related solutions. The Electrical Solutions Segment offers a broad range of electrical and electronic products, including wiring devices, lighting controls, and power management solutions.
Hubbell's comprehensive product portfolio serves critical areas of the U.S. electrical supply chain, from transmission and distribution to end markets in commercial, industrial, and residential spaces. The company's commitment to quality, reliability, and efficiency has solidified its reputation, ensuring the safe operation of vital infrastructure worldwide.
Recent achievements highlight Hubbell's strategic focus on grid modernization and electrification. In December 2023, Hubbell announced the sale of its Residential Lighting business to Kingswood Capital Management for $131 million. This divestiture aligns with Hubbell’s approach to creating a focused portfolio with strong growth and margin potential.
Furthermore, Hubbell's recent financial performance underscores its robust market position. The third quarter of 2023 showcased solid demand across transmission markets and improvements in industrial segments, particularly renewables and datacenters. Despite softer telecom and residential markets, Hubbell's strategic inventory management and enhanced supply chain dynamics have driven sequential growth.
Hubbell's forward-looking strategies and operational excellence are geared towards maintaining its leadership in the industry. With a clear vision for the future, Hubbell continues to execute its growth plans, ensuring it remains a key player in the electrification and energy infrastructure sectors.
Hubbell Incorporated (NYSE: HUBB) has announced it will release its fourth quarter 2024 financial results before market opening on February 4th, 2025. The company will host an Analysts' Conference Call at 10:00 AM ET to discuss the results, which will be accessible via webcast.
The full press release and accompanying materials will be available on Hubbell's corporate website under the Press Release section and through the Investors portal. Hubbell, with 2023 revenues of $5.4 billion, is a leading manufacturer of utility and electrical solutions that enable customers to operate critical infrastructure.
Hubbell Incorporated (NYSE: HUBB) announced the election of Garrick J. Rochow to its Board of Directors, effective November 19, 2024. Rochow, currently President and CEO of CMS Energy and Consumers Energy Company, brings extensive utility industry experience to Hubbell's board. His appointment increases the board size to ten directors, with nine being independent. Rochow's 20-plus year career at CMS includes executive roles in operations, distribution, customer operations, and energy delivery. He holds a bachelor's degree in environmental engineering and an MBA from Western Michigan University.
Hubbell (HUBB) reported strong Q3 2024 results with adjusted diluted EPS of $4.49, up 14% year-over-year. Net sales increased 5%, driven by 6% from M&A while organic sales declined 1%. The company achieved an operating margin of 21.1% and adjusted operating margin of 23.2%, expanding 180 basis points year-over-year. Utility Solutions segment saw 11% sales growth to $933 million, while Electrical Solutions segment sales decreased to $510 million. The company raised its 2024 adjusted EPS guidance to $16.35-$16.55 and expects total sales growth of approximately 6% for the full year.
Hubbell Incorporated (NYSE:HUBB) announced an 8% increase in its common stock dividend rate. The new annual payment will be $5.28 per share ($1.32 quarterly), up from the previous $4.88 per share ($1.22 quarterly). The dividend is payable on December 16, 2024, to shareholders of record on November 29, 2024. The company, which manufactures utility and electrical solutions, reported 2023 revenues of $5.4 billion.
Hubbell Incorporated (NYSE: HUBB) has announced it will release its third quarter 2024 financial results before the market opens on October 29, 2024. The company will host an Analysts' Conference Call to discuss the results at 10:00 AM ET on the same day. The full press release and accompanying materials will be available on Hubbell's corporate website under the Press Release section and the Events and Presentations section.
Investors can access this information by visiting www.hubbell.com and selecting 'Investors' from the options at the bottom of the page, then choosing either 'Press Releases' or 'Events/Presentations' from the drop-down menu. Hubbell Incorporated is a leading manufacturer of utility and electrical solutions, enabling customers to operate critical infrastructure. The company reported revenues of $5.4 billion in 2023.
Hubbell Incorporated (NYSE: HUBB) has announced that its Chairman, President, and CEO, Gerben Bakker, will present at the Morgan Stanley annual Laguna Conference on September 13, 2024, at 7:30AM PT. The event will be webcast live and accessible through Hubbell's Investor Relations section on their website. Hubbell, a leading manufacturer of utility and electrical solutions, reported revenues of $5.4 billion in 2023.
The presentation will be archived 24 hours after the event and can be accessed through the company's website. Hubbell's solutions play a important role in enabling customers to operate critical infrastructure reliably and efficiently, energizing economies and electrifying communities both in front of and behind the meter.
Hubbell Incorporated (NYSE: HUBB) reported strong second quarter 2024 results, with diluted EPS of $3.94 and adjusted diluted EPS of $4.37. Net sales increased by 6% (2% organic growth, 5% from M&A). The company achieved an operating margin of 20.7% and an adjusted operating margin of 22.8%, up 40 basis points year-over-year.
Highlights include:
- Electrical Solutions segment saw robust organic growth and margin expansion
- Utility Solutions segment growth driven by acquisitions and strong performance in transmission/substation infrastructure
- Full-year 2024 outlook raised: diluted EPS of $14.30-$14.60; adjusted diluted EPS of $16.20-$16.50
- Free cash flow of $206 million in Q2 2024
- Full-year 2024 total sales growth projected at 7-8%, with organic growth of approximately 3%
Hubbell Incorporated (NYSE:HUBB), a leading manufacturer of utility and electrical solutions, has declared a regular quarterly dividend of $1.22 per share on its common stock. The dividend will be paid on September 16, 2024 to shareholders of record as of August 30, 2024. This announcement demonstrates Hubbell's commitment to returning value to its shareholders.
Hubbell, with its corporate headquarters in Shelton, CT, reported revenues of $5.4 billion in 2023. The company specializes in providing critical infrastructure solutions that enable customers to operate reliably and efficiently, both in front of and behind the meter, energizing economies and electrifying communities.
Hubbell Incorporated (NYSE: HUBB) has announced it will release its second quarter 2024 financial results before the market opens on July 30, 2024. The company will host an Analysts' Conference Call at 10:00 AM ET to discuss the results. Investors can access the full press release and live audio of the conference call on Hubbell's corporate website under the Investors section.
Hubbell is a leading manufacturer of utility and electrical solutions, enabling customers to operate critical infrastructure. The company reported revenues of $5.4 billion in 2023. Hubbell's solutions play a important role in electrifying economies and energizing communities. The company's corporate headquarters is located in Shelton, CT.
Hubbell (NYSE: HUBB) is hosting its 2024 Investor Day at the New York Stock Exchange on June 4, 2024, starting at 8:30am ET.
Senior management will outline the Company's strategic plans for growth, margin expansion, and free cash flow generation and deployment.
Live audio and materials from the event are available on Hubbell's website under the Investors section, with an archive accessible 24 hours post-event.
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