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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) reported strong first-quarter results for 2023, showing a diluted EPS from continuing operations of $3.37 and an adjusted diluted EPS of $3.61. Net sales increased by 11%, with organic growth at 10%. The operating margin expanded by 700 basis points, with adjusted operating margin growth of 680 basis points. The company raised its FY23 diluted EPS forecast to $12.00-$12.50 and adjusted EPS to $13.00-$13.50.
Utility Solutions experienced robust demand, with net sales rising 20% to $782 million, while Electrical Solutions remained flat at $504 million. Hubbell expects total sales growth of 8-10% and organic net sales growth of 7-9% for the full year.
Hubbell Incorporated (NYSE: HUBB) has declared a quarterly dividend of $1.12 per share on its common stock. This dividend, payable on June 15, 2023, is set for shareholders on record as of May 31, 2023. The company reported revenues of $4.9 billion in 2022, emphasizing its role as a leading manufacturer in the electrical and utility solutions sector.
Hubbell's products are essential for the reliable and efficient operation of critical infrastructure, supporting energy delivery both in front of and behind the meter. The corporate headquarters is located in Shelton, CT.
Hubbell Incorporated (NYSE: HUBB) announced it will release its first quarter 2023 financial results on April 25, 2023, prior to market opening. Following this, a webcast of the Analysts' Conference Call will take place at 10:00 AM ET to discuss the results. This information will be available on Hubbell's corporate website in the Press Release section. For investors, a live audio of the conference and related materials will be accessible via the Events and Presentations section of the website. In 2022, Hubbell reported revenues of $4.9 billion, emphasizing its role as a key manufacturer of utility and electrical solutions that ensure the safe, reliable, and efficient operation of critical infrastructure.
Hubbell announced its fourth quarter and full year 2022 financial results, reporting Q4 diluted EPS from continuing operations of $2.27 and adjusted diluted EPS of $2.60. Net sales grew 11% year-over-year, with organic growth at 10%. For full year 2022, diluted EPS from continuing operations was $9.43, while adjusted EPS reached $10.62. Looking ahead, Hubbell projects 2023 diluted EPS between $10.00-$10.50, with adjusted EPS of $11.00-$11.50. The company anticipates 5-7% total sales growth and strong demand in Utility Solutions despite a softening in Electrical Solutions.
The Board of Directors of Hubbell Incorporated (NYSE:HUBB) has declared a quarterly dividend of $1.12 per share, payable on March 15, 2023, to shareholders of record by February 28, 2023. This reflects the company's commitment to returning value to its investors. Hubbell, a leading manufacturer of utility and electrical solutions, recorded $4.2 billion in revenue for 2021, highlighting its capacity to support critical infrastructure. The corporate headquarters is located in Shelton, CT.
Hubbell Incorporated (NYSE: HUBB) announced it will release its fourth quarter 2022 financial results before the market opens on January 31, 2023. Following the announcement, an Analysts' Conference Call will be held at 10:00 AM ET to discuss the results. Investors can find the full press release on Hubbell's corporate website under the Press Releases section. With 2021 revenues of $4.2 billion, Hubbell is known for its utility and electrical solutions that support critical infrastructure across communities.
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