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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 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.
Hubbell Incorporated (NYSE: HUBB) reported a Q1 diluted EPS of $2.73 and adjusted diluted EPS of $3.60. Q1 net sales increased by 9% (organic +2%; net M&A +6%). Operating margin decreased by 310 bps year-over-year, with adjusted operating margin down by 100 bps. The company anticipates FY24 diluted EPS of $14.10-$14.60 and reaffirms adj. diluted EPS of $16.00-$16.50. Hubbell had a solid start in 2024 with strong organic growth in Electrical Solutions and continued strength in Utility Solutions. However, Telcom markets were weak in the quarter. The company's first quarter results position them well to achieve their reaffirmed 2024 outlook.
Hubbell Incorporated, a leading manufacturer of utility and electrical solutions, declared a regular quarterly dividend of $1.22 per share on its common stock. The dividend will be paid on June 17, 2024, to shareholders of record on May 31, 2024. With 2023 revenues of $5.4 billion, Hubbell plays a vital role in energizing economies and electrifying communities.
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