Shelton, CT, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) today announced it will release its fourth quarter 2024 financial results prior to the opening of the market on February 4th, 2025. The Company will then webcast its Analysts' Conference Call to discuss the results at 10:00 AM ET. The full text of the press release announcing the results will be posted on Hubbell's corporate website under the Press Release section. You can also access this information by going to www.hubbell.c ...

Following my last report on Hubbell Incorporated (NYSE: HUBB ) in October '23 [rated buy] the sock is +43% on the combination of asset factors, earnings power and multiples expansion. The stock now sells at 27x fwd earnings and ~5x the net tangible + intangible assets required toEquity strategist [Bernard Holdings]. Objective view on the directional bias of markets. Technical expertise bridges the complex relationships between value drivers, capital flows and price action. Partners are represented over the ...

Shelton, CT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Hubbell Incorporated (NYSE: HUBB) announces the election of Garrick J. Rochow as a Director of the company effective November 19, 2024.  This addition to the Hubbell Board brings the total number of Directors to ten, of which nine are independent. Hubbell’s Chairman, President and CEO, Gerben Bakker said, “On behalf of the Board of Directors, I am pleased to welcome Garrick to Hubbell.  His leadership and deep understanding of the util ...

Company Performance - Hubbell reported quarterly earnings of $4.49 per share, exceeding the Zacks Consensus Estimate of $4.47 per share, and up from $3.95 per share a year ago, representing an earnings surprise of 0.45% [1] - The company posted revenues of $1.44 billion for the quarter ended September 2024, which was 2.60% below the Zacks Consensus Estimate, but an increase from $1.38 billion year-over-year [2] - Over the last four quarters, Hubbell has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Performance - Hubbell shares have increased approximately 36.7% since the beginning of the year, outperforming the S&P 500's gain of 22.1% [3] - The current Zacks Rank for Hubbell is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $4.01 on revenues of $1.44 billion, and for the current fiscal year, it is $16.43 on revenues of $5.77 billion [7] - The outlook for the Manufacturing - Electrical Utilities industry, where Hubbell operates, is currently in the top 41% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]

[Q3 2024 Performance Highlights](index=1&type=section&id=HUBBELL%20REPORTS%20THIRD%20QUARTER%202024%20RESULTS) Hubbell reported strong Q3 2024 results with increased adjusted EPS and operating margins, driven by strategic market strengths Q3 2024 Key Financial Metrics | Metric | Q3 2024 Value | Year-over-Year Change | | :--- | :--- | :--- | | Diluted EPS | $4.05 | +9% | | Adjusted Diluted EPS | $4.49 | +14% | | Net Sales (in millions) | $1,442.6 | +5% | | Organic Net Sales | - | -1% | | Net M&A Impact on Sales | - | +6% | | Operating Margin | 21.1% | +100 bps | | Adjusted Operating Margin | 23.2% | +180 bps | - The company raised its full-year 2024 adjusted diluted EPS outlook to a range of **$16.35-$16.55**, while setting the GAAP diluted EPS outlook at **$14.20-$14.40**[2](index=2&type=chunk) - CEO Gerben Bakker highlighted strong operating performance, with strength in Utility Solutions' transmission and grid control markets and Electrical Solutions' datacenter and renewables verticals, partially offset by weakness in telcom markets and inventory normalization in utility distribution[3](index=3&type=chunk)[4](index=4&type=chunk) [Segment Performance Review](index=3&type=section&id=THIRD%20QUARTER%20FINANCIAL%20HIGHLIGHTS) Hubbell's segments showed mixed performance, with Utility Solutions growing through acquisitions and Electrical Solutions achieving organic growth despite divestitures [Utility Solutions Segment](index=3&type=section&id=Utility%20Solutions%20segment) The Utility Solutions segment reported an 11% increase in net sales, primarily driven by a 15% contribution from acquisitions which more than offset a 4% organic sales decline, achieving year-over-year expansion in adjusted operating margin to 25.3% due to effective price/cost management and acquisition impacts Utility Solutions Segment Performance | Metric | Q3 2024 (in millions) | Q3 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $933 | $838 | +11% | | Organic Net Sales | - | - | -4% | | Acquisition Impact | - | - | +15% | | Operating Income | $211 | $187 | +12.7% | | Adjusted Operating Income | $236 | $201 | +17.6% | | Adjusted Operating Margin | 25.3% | 24.0% | +130 bps | - Performance was led by strength in Grid Infrastructure (net sales **+15%**) and Grid Automation (net sales **+4%**), reflecting utility investments in load growth and renewable energy integration[4](index=4&type=chunk)[8](index=8&type=chunk) [Electrical Solutions Segment](index=3&type=section&id=Electrical%20Solutions%20segment) The Electrical Solutions segment saw a 5% decrease in net sales, as a divestiture reduced sales by 8%, yet delivered strong underlying performance with 3% organic sales growth driven by datacenter and renewables verticals, with significant expansion in both GAAP and adjusted operating margins due to volume growth, price/cost management, and portfolio transformation Electrical Solutions Segment Performance | Metric | Q3 2024 (in millions) | Q3 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $510 | $538 | -5% | | Organic Net Sales | - | - | +3% | | Divestiture Impact | - | - | -8% | | Operating Income | $93 | $90 | +3.7% | | Adjusted Operating Income | $99 | $94 | +5.3% | | Adjusted Operating Margin | 19.4% | 17.5% | +190 bps | - The strong operating performance was primarily driven by volume growth, effective price/cost/productivity management, and favorable mix from portfolio transformation efforts[4](index=4&type=chunk)[9](index=9&type=chunk) [Cash Flow and EPS Adjustments](index=3&type=section&id=Cash%20Flow%20and%20EPS%20Adjustments) The company generated strong cash flow in the third quarter, with both operating cash flow and free cash flow increasing year-over-year, and Q3 2024 adjusted diluted EPS of $4.49 excludes $0.44 per share in charges, primarily from the amortization of acquisition-related intangible assets Cash Flow Summary | Cash Flow Metric | Q3 2024 (in millions) | Q3 2023 (in millions) | | :--- | :--- | :--- | | Net Cash from Operating Activities | $227 | $194 | | Free Cash Flow | $189 | $159 | - Adjusted diluted EPS for Q3 2024 excludes **$0.40** for amortization of acquisition-related intangible assets and **$0.04** for transaction, integration, and separation costs[10](index=10&type=chunk) [Full Year 2024 Outlook](index=4&type=section&id=SUMMARY%20%26%20OUTLOOK) Hubbell updated its full-year 2024 financial outlook, projecting increased adjusted diluted EPS and continued sales growth Full Year 2024 Financial Outlook | 2024 Full Year Outlook | Range / Value | | :--- | :--- | | Diluted EPS | $14.20 - $14.40 | | Adjusted Diluted EPS (Raised) | $16.35 - $16.55 | | Total Sales Growth | ~6% | | Organic Net Sales Growth | ~1% | | Net M&A Contribution to Sales | ~5% | | Free Cash Flow (in millions) | ~$800 | - The Adjusted EPS outlook excludes approximately **$1.75** per share for amortization of acquisition-related intangible assets, a **$0.22** loss on the disposition of the residential lighting business, and **$0.17** of transaction-related costs[13](index=13&type=chunk) - The outlook is based on an anticipated adjusted tax rate of **22.0% to 22.5%** and includes about **$0.35** per share of restructuring and related investment costs[15](index=15&type=chunk) [Financial Statements and Reconciliations](index=12&type=section&id=Financial%20Statements%20and%20Reconciliations) This section provides detailed consolidated financial statements and reconciliations of non-GAAP measures to their GAAP equivalents [Condensed Consolidated Financial Statements](index=12&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The consolidated financial statements detail the company's financial position and performance, showing net sales growth to **$4.3 billion** and **$559 million** in cash from operating activities for the nine months ended September 30, 2024, with a reduction in total debt compared to year-end 2023 [Statement of Income](index=12&type=section&id=Condensed%20Consolidated%20Statement%20of%20Income) The statement of income presents the company's revenues, costs, and net income for the reported periods Condensed Consolidated Statement of Income | (in millions) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $1,442.6 | $1,375.8 | $4,294.2 | $4,027.1 | | Gross Profit | $497.1 | $487.4 | $1,453.5 | $1,431.9 | | Operating Income | $303.8 | $276.3 | $833.5 | $812.9 | | Net Income Attributable to Hubbell | $219.4 | $200.1 | $580.8 | $588.8 | [Balance Sheet](index=13&type=section&id=Condensed%20Consolidated%20Balance%20Sheet) The balance sheet provides a snapshot of the company's assets, liabilities, and equity at specific points in time Condensed Consolidated Balance Sheet | (in millions) | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $435.7 | $336.1 | | Total Current Assets | $2,319.1 | $2,167.2 | | Goodwill | $2,523.5 | $2,533.4 | | Total Assets | $6,935.0 | $6,914.0 | | Total Debt (Short & Long-term) | $1,931.5 | $2,140.6 | | Total Liabilities | $3,706.2 | $4,024.7 | | Total Equity | $3,228.8 | $2,889.3 | [Statement of Cash Flows](index=14&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) The statement of cash flows details the sources and uses of cash from operating, investing, and financing activities Condensed Consolidated Statement of Cash Flows | (in millions) | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $558.8 | $535.3 | | Net cash provided by (used in) investing activities | $20.0 | $(161.4) | | Net cash used by financing activities | $(476.4) | $(241.7) | [Non-GAAP Reconciliations](index=15&type=section&id=Non-GAAP%20Reconciliations) This section provides detailed reconciliations from GAAP results to the non-GAAP measures used by management, including Adjusted EPS, Organic Net Sales, and free cash flow [Earnings Per Share (EPS) Reconciliation](index=15&type=section&id=Earnings%20Per%20Share) This reconciliation details adjustments made to GAAP diluted EPS to arrive at the non-GAAP adjusted diluted EPS Earnings Per Share Reconciliation | (in millions, except per share) | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | Diluted EPS (GAAP) | $4.05 | $3.70 | +9% | | Amortization of acq. intangibles (in millions) | $28.1 | $18.4 | - | | Transaction, integration & separation costs (in millions) | $2.9 | - | - | | Adjusted Diluted EPS (Non-GAAP) | $4.49 | $3.95 | +14% | [Organic Net Sales Growth Reconciliation](index=17&type=section&id=Organic%20Net%20Sales%20Growth) This reconciliation illustrates the impact of acquisitions, divestitures, and foreign currency on net sales growth Organic Net Sales Growth Reconciliation | Q3 2024 vs Q3 2023 | Hubbell Inc. | Utility Solutions | Electrical Solutions | | :--- | :--- | :--- | :--- | | Net Sales Growth (GAAP) | +4.9% | +11.3% | -5.3% | | Impact of Acquisitions | +9.4% | +15.3% | 0.0% | | Impact of Divestitures | -3.3% | 0.0% | -8.5% | | Foreign Currency Exchange | -0.2% | -0.2% | -0.2% | | **Organic Net Sales Growth (Non-GAAP)** | **-1.0%** | **-3.8%** | **+3.4%** | [Debt and Liquidity Metrics](index=20&type=section&id=Debt%20and%20Liquidity%20Metrics) This section presents key metrics related to the company's debt levels, leverage, and cash flow generation - The company improved its leverage profile, with the Net Debt to Total Capital ratio decreasing to **27%** at the end of Q3 2024, down from **34%** at the end of 2023[61](index=61&type=chunk) Free Cash Flow Calculation | (in millions) | Nine Months Ended Sep 30, 2024 | | :--- | :--- | | Net cash provided by operating activities | $558.8 | | Less: Capital expenditures | $(112.4) | | **Free cash flow (non-GAAP)** | **$446.4** | [Other Information](index=5&type=section&id=Other%20Information) This section provides important context regarding non-GAAP definitions, forward-looking statements, and investor communication details [Non-GAAP Definitions](index=9&type=section&id=NON-GAAP%20DEFINITIONS) This section defines the non-GAAP financial measures used in the report, such as 'adjusted' operating metrics, 'organic net sales', and 'free cash flow', explaining their purpose in understanding underlying business performance - Key exclusions from GAAP measures to arrive at 'adjusted' non-GAAP metrics include amortization of intangible assets from business acquisitions, transaction, integration, and separation costs related to M&A, and gains or losses from the disposition of a business, such as the residential lighting business[25](index=25&type=chunk)[26](index=26&type=chunk) - Organic net sales is a non-GAAP measure that excludes the impact of acquisitions and divestitures for the first twelve months, as well as the effects of foreign currency fluctuations, to show underlying operational trends[33](index=33&type=chunk) [Forward-Looking Statements](index=6&type=section&id=FORWARD-LOOKING%20STATEMENTS) This section contains standard safe harbor language, cautioning that statements about future expectations are subject to numerous risks and uncertainties that could cause actual results to differ materially - Identified risks include geopolitical conditions, economic slowdowns, inflation, interest rates, ability to manage costs, trade tariffs, and the successful integration of acquired businesses like EI Electronics and Systems Control[19](index=19&type=chunk)[21](index=21&type=chunk) [Conference Call Information](index=5&type=section&id=CONFERENCE%20CALL) Hubbell announced it will host an earnings conference call on October 29, 2024, at 10:00 a.m. ET to discuss the third-quarter results, with a live audio webcast and replay available - The conference call to discuss Q3 2024 results is scheduled for **October 29, 2024, at 10:00 a.m. ET**, with access via the company's website[17](index=17&type=chunk)

Financial Performance - Q3 2024 diluted EPS of $4 05, adjusted diluted EPS of $4 49, up 14% YoY [1] - Q3 2024 net sales increased 5% YoY, with organic sales down 1% and net M&A contributing 6% [1] - Q3 2024 operating margin at 21 1%, adjusted operating margin at 23 2%, up 180 bps YoY [1] - Full-year 2024 diluted EPS outlook raised to $14 20-$14 40, adjusted diluted EPS outlook raised to $16 35-$16 55 [1][4] Segment Performance - Utility Solutions segment Q3 2024 net sales increased 11% YoY to $933M, with organic sales down 4% and acquisitions adding 15% [3] - Utility Solutions segment Q3 2024 operating income at $211M (22 6% margin), adjusted operating income at $236M (25 3% margin) [3] - Electrical Solutions segment Q3 2024 net sales decreased to $510M, with organic sales up 3% and divestiture reducing sales by 8% [3] - Electrical Solutions segment Q3 2024 operating income at $93M (18 3% margin), adjusted operating income at $99M (19 4% margin) [3] Cash Flow & Balance Sheet - Q3 2024 net cash from operating activities at $227M, free cash flow at $189M [3] - Full-year 2024 free cash flow expected to be approximately $800M [4] - Total debt to total capital ratio at 38% as of September 30, 2024, down from 43% at December 31, 2023 [33] Market Trends & Strategy - Utility customers investing in transmission, substation, and grid protection to accommodate load growth and renewable energy integration [2] - Telecom markets remained weak in Q3 2024, while utility distribution markets reflected customer inventory normalization [2] - Company positioned to benefit from grid modernization and electrification megatrends [2]

Shelton, CT, Oct. 25, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Hubbell Incorporated (NYSE:HUBB) today declared a 8% increase in its common stock dividend rate. The new annual payment of $5.28 per share, or $1.32 per quarter, compares to the former rate of $4.88 per share, or $1.22 per quarter. The dividend will be paid on December 16, 2024 to shareholders of record on November 29, 2024. Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate ...

The upcoming report from Hubbell (HUBB) is expected to reveal quarterly earnings of $4.47 per share, indicating an increase of 13.2% compared to the year-ago period. Analysts forecast revenues of $1.48 billion, representing an increase of 7.7% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a compan ...

Core Viewpoint - The market anticipates Hubbell (HUBB) will report a year-over-year increase in earnings driven by higher revenues when it releases its quarterly results for the period ending September 2024, with the earnings report expected on October 29, 2024 [1] Earnings Expectations - Hubbell is projected to post quarterly earnings of $4.47 per share, reflecting a year-over-year increase of +13.2% [2] - Revenues are expected to reach $1.48 billion, representing a 7.7% increase from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has been revised 0.47% lower over the last 30 days, indicating a reassessment by analysts [3] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Hubbell is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.92%, suggesting a bullish outlook on earnings prospects [4][6] - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [5] Historical Performance - In the last reported quarter, Hubbell exceeded the expected earnings of $4.23 per share by delivering $4.37, resulting in a surprise of +3.31% [7] - Over the past four quarters, Hubbell has beaten consensus EPS estimates three times [7] Conclusion - Hubbell is positioned as a compelling candidate for an earnings beat, although other factors should also be considered when evaluating the stock ahead of its earnings release [8]

Shelton, CT, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) today announced it will release its third quarter 2024 financial results prior to the opening of the market on October 29, 2024. The Company will then webcast its Analysts' Conference Call to discuss the results at 10:00 AM ET. The full text of the press release announcing the results will be posted on Hubbell's corporate website under the Press Release section. You can also access this information by going to www.hubbell.com a ...