Welcome to our dedicated page for Hubbell Incorporated news (Ticker: HUBB), a resource for investors and traders seeking the latest updates and insights on Hubbell Incorporated stock.
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) will release its Q2 2022 financial results on July 26, 2022, before market open. The company will host a conference call at 10:00 AM ET to discuss these results. Interested parties can access the press release on Hubbell's corporate website under the Press Release section. Live audio and materials from the call will also be available in the Events and Presentations section of the site. Audio replays will be accessible via phone and online until August 25, 2022. Hubbell reported revenues of $4.2 billion in 2021.
Hubbell Incorporated (NYSE: HUBB) held its 2022 Investor Day, outlining a long-term strategy emphasizing growth and margin expansion. The company anticipates double-digit adjusted EPS growth through 2025, forecasting 2022 adjusted EPS between $9.00 to $9.40 per share. Hubbell's leadership highlighted its strong positioning in utility and electrical solutions, capitalizing on trends in grid modernization. The presentation is available on its website, reinforcing its commitment to creating value for customers and shareholders.
Hubbell reported first-quarter 2022 earnings with a diluted EPS of $1.88 and adjusted EPS of $2.12, reflecting a 21% increase in net sales. The company raised its FY22 diluted EPS guidance to $8.00-$8.40, and adjusted EPS to $9.00-$9.40. Significant demand in Utility and Electrical Solutions segments drove sales growth, with organic sales increasing by 21%. Margins improved year-over-year despite ongoing supply chain challenges. Net cash used in operating activities was $14.4 million, contrasting with a positive cash flow from 2021. The company anticipates total sales growth of 11-13% for the year.
The Board of Directors of Hubbell Incorporated (NYSE: HUBB) declared a quarterly dividend of $1.05 per share on its common stock. This dividend is scheduled for payment on June 15, 2022, to shareholders of record by May 31, 2022. In 2021, Hubbell reported revenues of $4.2 billion and is recognized as a leading manufacturer of utility and electrical solutions. The company's operational footprint includes manufacturing facilities in both the United States and internationally.
Hubbell Incorporated (NYSE: HUBB) will announce its first quarter 2022 financial results on April 26, 2022, prior to market opening. Following the announcement, a conference call will be held at 10:00 AM ET to discuss the results. Interested parties can find the full press release on Hubbell's corporate website under the Press Release section. Access to the live audio and related materials will be available in the Events and Presentations section of the Investors page. Audio replays can be accessed via phone, the website, or as a podcast after the call.
Hubbell Incorporated (NYSE: HUBB) will hold an investor conference on June 7, 2022, from 8:30 AM to 12:00 PM ET. Senior management will present an overview of the company and its outlook to institutional investors and analysts. The event will take place at Convene, 530 Fifth Avenue, New York, NY, and will also be accessible via live audio on Hubbell's website. Materials will be archived 24 hours post-event. In 2021, Hubbell reported revenues of $4.2 billion, focusing on utility and electrical solutions.
Hubbell reported strong Q4 2021 results with a diluted EPS from continuing operations of $1.81 and net sales growth of 20%, attributed to price realization and acquisitions. The full year 2021 diluted EPS was $6.66, with a positive outlook for 2022, projecting diluted EPS of $7.75-$8.25. The Electrical Solutions segment saw a 22% sales increase, while Utility Solutions grew by 19%. Despite challenges like material inflation and supply chain disruptions, Hubbell anticipates continued growth driven by robust end markets.
Hubbell Incorporated (NYSE: HUBB) has successfully finalized the sale of its Commercial and Industrial Lighting business to GE Current, a Daintree company. This business specializes in LED lighting and control solutions tailored for commercial and industrial sectors. The sale reflects Hubbell's strategy to streamline operations and focus on core segments. In 2020, Hubbell recorded revenues of $4.2 billion, underscoring its position as a key player in utility and electrical solutions.
The Board of Directors of Hubbell (NYSE: HUBB) declared a quarterly dividend of $1.05 per share, payable on March 15, 2022, to shareholders on record by February 28, 2022.
With 2020 revenues of $4.2 billion, Hubbell is a leading manufacturer of reliable electrical and utility solutions and operates globally from its headquarters in Shelton, CT.
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