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Hubbell(HUBB) - 2020 Q4 - Annual Report
2021-02-11 13:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DOCUMENTS INCORPORATED BY REFERENCE Commission File Number 1-2958 HUBBELL INCORPORATED (Exact name of registrant as specified in its charter) Connecticut 06-0397030 (State or other jurisdiction of incorporation ...
Hubbell(HUBB) - 2020 Q4 - Earnings Call Transcript
2021-02-02 20:17
Financial Data and Key Metrics Changes - Organic sales declined by 7% in Q4 2020, with adjusted operating margins at 13.4%, down 60 basis points year-over-year [17][18][19] - Free cash flow generation reached $560 million, reflecting a 12% increase over 2019 levels [11][34] - Earnings per share decreased by 8%, influenced by favorable non-operating factors [22] Business Line Data and Key Metrics Changes - Electrical Solutions segment saw a 10% decline in sales, with significant impacts from harsh and hazardous areas and C&I lighting [24][25] - Utility Solutions segment experienced a 1% decline in overall sales to $479 million, with Power Systems business growing mid-single digits [29][30] - Aclara faced double-digit declines due to project delays, but is expected to maintain mid-single-digit growth in 2021 [30][50] Market Data and Key Metrics Changes - The utility T&D components market is expected to grow by 2% to 4%, driven by grid modernization and renewable energy integration [48] - Industrial markets are anticipated to return to growth, contributing 3% to 5%, while residential markets are expected to remain strong [51] - Non-residential markets are projected to face continued softness, with a balanced exposure between new construction and renovation [52] Company Strategy and Development Direction - The company is focused on operational transformation and footprint optimization to achieve sustainable savings and future benefits [13] - Investments in acquisitions and capital deployment are aimed at enhancing shareholder value, with three acquisitions totaling $236 million closed in Q4 2020 [36][39] - The company is strategically aligned around electrification and grid modernization, positioning itself to address critical infrastructure challenges [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth in 2021 while maintaining operating discipline and managing costs [16][54] - The company anticipates a balanced growth trajectory, with a total sales growth forecast of 6% to 8% for 2021 [54] - Management highlighted the importance of monitoring commodity prices and adjusting pricing strategies accordingly [120][121] Other Important Information - The company has set multi-year goals to reduce water consumption and greenhouse gas emissions by 10% [46] - A new sustainability website has been launched to provide details on ESG initiatives and expanded disclosures [47] Q&A Session Summary Question: Understanding the underlying incrementals in the bridge - Management confirmed that the underlying incrementals are expected to be in the 30% to 40% range, exclusive of restructuring benefits [67] Question: Price cost impact and commodity inflation coverage - Management indicated that price increases may not fully cover anticipated commodity inflation, necessitating ongoing adjustments [68][69] Question: Aclara's guidance and expected recovery - Management acknowledged that Aclara's performance may remain negative in Q1 but expects a rebound by Q2 [70] Question: Acquisition multiples and growth expectations - The company spent 10.5x trailing EBITDA on recent acquisitions, with expectations of mid to high single-digit growth for these investments [77][78] Question: Non-residential market progression - Management noted that new construction is expected to decline in high single digits, while MRO could see mid-single-digit growth [94] Question: Clarification on tariff credits and clean comps - Management clarified that 2020 is not a clean comp due to tariff refunds and exclusions affecting the net tariff rate [101]
Hubbell(HUBB) - 2020 Q4 - Earnings Call Presentation
2021-02-02 16:55
Fourth Quarter 2020 Earnings Call February 2, 2021 Forward Looking Statements and Non-GAAP Measures Forward Looking Statements Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements about expectations regarding our financial results, condition and outlook, anticipated end markets, near-term volume, continued opportunity for operational improvement, our ongoing operational transformatio ...
Hubbell(HUBB) - 2020 Q3 - Quarterly Report
2020-10-28 12:27
Back to Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 1-2958 HUBBELL INCORPORATED (Exact name of registrant as specified in its charter) Connecticut ...
Hubbell(HUBB) - 2020 Q3 - Earnings Call Transcript
2020-10-27 18:11
Hubbell Incorporated (NYSE:HUBB) Q3 2020 Results Conference Call October 27, 2020 10:00 AM ET Company Participants Jason Pan - Investor Relations Gerben Bakker - Chief Executive Officer Bill Sperry - Chief Financial Officer David Nord - Chairman Conference Call Participants Jeffrey Sprague - Vertical Research Partners Charles Tusa - JPMorgan Chase Nigel Coe - Wolfe Research Deepa Raghavan - Wells Fargo Security Joshua Pokrzywinski - Morgan Stanley Christopher Glynn - Oppenheimer & Company Christopher Snyder ...
Hubbell(HUBB) - 2020 Q2 - Earnings Call Transcript
2020-08-02 07:10
Hubbell Incorporated (NYSE:HUBB) Q2 2020 Earnings Conference Call July 30, 2020 10:00 AM ET Company Participants Dan Innamorato - Director, IR Dave Nord - Chairman and CEO Gerben Bakker - President and COO Bill Sperry - EVP and CFO Conference Call Participants Jeffrey Sprague - Vertical Research Steve Tusa - JPMorgan Deepa Raghavan - Wells Fargo Securities Operator Thank you for standing by, and welcome to the Second Quarter 2020 Results Call. [Operator Instructions] Please be advised that today's conferenc ...
Hubbell(HUBB) - 2020 Q2 - Earnings Call Presentation
2020-07-31 22:34
Second Quarter 2020 Earnings Call July 30, 2020 Forward Looking Statements Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements about expectations regarding our financial results, condition and outlook, anticipated end markets, nearterm volume, continued opportunity for operational improvement, our ability to drive consistent and differentiated performance, the impact of our high qua ...
Hubbell(HUBB) - 2020 Q2 - Quarterly Report
2020-07-31 12:42
Back to Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 1-2958 HUBBELL INCORPORATED (Exact name of registrant as specified in its charter) Connecticut 06-03 ...
Hubbell(HUBB) - 2020 Q1 - Earnings Call Transcript
2020-05-02 20:43
Hubbell, Inc. (NYSE:HUBB) Q1 2020 Results Conference Call April 30, 2020 10:00 AM ET Company Participants Dan Innamorato - Director, IR Dave Nord - Chairman and CEO Gerben Bakker - President and COO Bill Sperry - EVP and CFO Conference Call Participants Jeff Sprague - Vertical Research Steve Tusa - JP Morgan Nigel Coe - Wolfe Research Deepa Raghavan - Wells Fargo Robert McCarthy - Stephens Christopher Glynn - Oppenheimer Operator Ladies and gentlemen, thank you for standing by, and welcome to First Quarter ...
Hubbell(HUBB) - 2020 Q1 - Quarterly Report
2020-05-01 12:19
Back to Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 40 Waterview Drive Shelton, CT 06484 (Address of principal executive offices) (Zip Code) FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 1-2958 HUB ...