In the latest market close, Hubbell (HUBB) reached $417.08, with a +1.1% movement compared to the previous day. This change lagged the S&P 500's 1.11% gain on the day. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.24%.The electrical products manufacturer's shares have seen an increase of 4.99% over the last month, surpassing the Industrial Products sector's gain of 4.27% and the S&P 500's gain of 0.48%.The investment community will be closely monitori ...

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, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-2958 HUBBELL INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Conn ...

Part I - Financial Information [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Unaudited financial statements for Q3 and nine months ended September 30, 2023, reflect strong growth in sales, net income, and operating cash flow Condensed Consolidated Statements of Income | Indicator | Q3 2023 ($M) | Q3 2022 ($M) | YoY Change | Nine Months 2023 ($M) | Nine Months 2022 ($M) | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | 1,375.8 | 1,316.2 | +4.5% | 4,027.1 | 3,728.3 | +8.0% | | **Gross Profit** | 487.4 | 398.5 | +22.3% | 1,431.9 | 1,104.8 | +29.6% | | **Operating Income** | 276.3 | 203.6 | +35.7% | 812.9 | 537.1 | +51.3% | | **Net Income from Continuing Operations** | 200.1 | 150.3 | +33.1% | 588.8 | 388.4 | +51.6% | | **Diluted EPS from Continuing Operations** | $3.70 | $2.78 | +33.1% | $10.89 | $7.16 | +52.1% | Condensed Consolidated Balance Sheets | Balance Sheet Item | Sep 30, 2023 ($M) | Dec 31, 2022 ($M) | Change ($M) | | :--- | :--- | :--- | :--- | | **Total Current Assets** | 2,318.4 | 2,021.4 | +297.0 | | **Total Assets** | 5,768.3 | 5,402.6 | +365.7 | | **Total Current Liabilities** | 1,071.4 | 1,088.5 | -17.1 | | **Long-Term Debt** | 1,439.7 | 1,437.9 | +1.8 | | **Total Liabilities** | 3,017.8 | 3,032.0 | -14.2 | | **Total Equity** | 2,750.5 | 2,370.6 | +379.9 | Condensed Consolidated Statements of Cash Flows | Cash Flow Activity (Nine Months Ended Sep 30) | 2023 ($M) | 2022 ($M) | Change ($M) | | :--- | :--- | :--- | :--- | | **Net cash provided by operating activities** | 535.3 | 393.8 | +141.5 | | **Net cash (used in) provided by investing activities** | (161.4) | 92.6 | -254.0 | | **Net cash used in financing activities** | (241.7) | (340.3) | +98.6 | | **Increase in cash and cash equivalents** | 132.5 | 80.1 | +52.4 | - The significant decrease in cash from investing activities is primarily due to the **$332.8 million** in proceeds from the disposal of a business in 2022, which did not recur in 2023[12](index=12&type=chunk) - The decrease in cash used for financing activities was mainly driven by a reduction in common share acquisitions, which were **$30.0 million** in 2023 compared to **$150.0 million** in 2022[12](index=12&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail significant business changes including divestitures, acquisitions, and revenue disaggregation, with a focus on the Utility Solutions segment - On February 1, 2022, the Company completed the sale of the Commercial and Industrial Lighting business (C&I Lighting business), which is presented as a discontinued operation[15](index=15&type=chunk)[20](index=20&type=chunk) - In Q2 2023, the Company acquired EI Electronics LLC ("EIG") for a cash purchase price of approximately **$60 million**. EIG is reported in the Utility Solutions segment[23](index=23&type=chunk) - As of September 30, 2023, the Company had approximately **$240 million** of unsatisfied performance obligations for long-term contracts, primarily within the Utility Solutions segment, expected to be recognized over the next two years[34](index=34&type=chunk) - Subsequent events include the acquisition of Balestro for **~$89 million** on October 27, 2023, and an agreement to acquire Systems Control for **$1.1 billion**, both to be part of the Utility Solutions segment[100](index=100&type=chunk)[101](index=101&type=chunk)[102](index=102&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q3 2023 results to demand for grid modernization, leading to significant margin expansion and increased operating cash flow [Results of Operations – Third Quarter of 2023 vs 2022](index=31&type=section&id=Results%20of%20Operations%20%E2%80%93%20Third%20Quarter%20of%202023%20vs%202022) - Q3 2023 net sales increased **4.5%** to **$1,375.8 million**. Organic net sales grew **3.5%**, driven by a mid-single-digit increase in price realization partially offset by a low-single-digit decrease in volume[126](index=126&type=chunk)[128](index=128&type=chunk) - Gross profit margin increased by **510 basis points** to **35.4%** in Q3 2023 from **30.3%** in Q3 2022, primarily due to favorable price realization, improved productivity, and modestly lower material costs[117](index=117&type=chunk)[129](index=129&type=chunk) - Operating income rose **35.7%** to **$276.3 million**, with operating margin expanding to **20.1%** from **15.5%** in the prior-year quarter[117](index=117&type=chunk) - Adjusted operating income, a non-GAAP measure, increased to **$294.7 million** (**21.4%** margin) from **$224.4 million** (**17.0%** margin) in Q3 2022[125](index=125&type=chunk) [Segment Results – Third Quarter of 2023 vs 2022](index=35&type=section&id=Segment%20Results%20%E2%80%93%20Third%20Quarter%20of%202023%20vs%202022) | Segment | Q3 2023 Net Sales ($M) | YoY Change | Q3 2023 Operating Margin | YoY Change (bps) | | :--- | :--- | :--- | :--- | :--- | | **Utility Solutions** | 837.9 | +8.2% | 22.3% | +550 | | **Electrical Solutions** | 537.9 | -0.7% | 16.6% | +300 | - Utility Solutions segment sales growth was driven by a **6.9%** increase in organic net sales, reflecting strong price realization that offset a slight volume decrease due to channel inventory normalization[135](index=135&type=chunk) - Electrical Solutions segment sales saw a slight decline, with a **1.2%** organic decrease as weakness in residential and commercial markets outweighed strength in industrial, renewables, and datacenter verticals[138](index=138&type=chunk) [Results of Operations – Nine Months 2023 vs 2022](index=37&type=section&id=Results%20of%20Operations%20%E2%80%93%20Nine%20Months%202023%20vs%202022) - For the first nine months of 2023, net sales increased **8.0%** to **$4,027.1 million**. Organic net sales grew **6.2%**, driven by a high-single-digit increase in price realization[143](index=143&type=chunk)[144](index=144&type=chunk) - Gross profit margin for the nine-month period expanded by **600 basis points** to **35.6%**, driven by favorable pricing, productivity, and lower material costs[141](index=141&type=chunk)[145](index=145&type=chunk) - Operating income for the nine months grew **51.3%** to **$812.9 million**, with operating margin reaching **20.2%** compared to **14.4%** in the prior-year period[141](index=141&type=chunk) [Segment Results – Nine Months 2023 vs 2022](index=40&type=section&id=Segment%20Results%20%E2%80%93%20Nine%20Months%202023%20vs%202022) | Segment | Nine Months 2023 Net Sales ($B) | YoY Change | Nine Months 2023 Operating Margin | YoY Change (bps) | | :--- | :--- | :--- | :--- | :--- | | **Utility Solutions** | 2.5 | +13.7% | 23.0% | +770 | | **Electrical Solutions** | 1.6 | +0.2% | 15.8% | +260 | - Utility Solutions segment's strong nine-month performance was driven by a **12.6%** organic sales increase, reflecting robust demand for grid modernization and upgrades[152](index=152&type=chunk) - Electrical Solutions segment's flat nine-month sales reflect a **2.5%** organic sales decline, as volume decreases in residential and commercial markets were offset by acquisitions and price realization[155](index=155&type=chunk) [Financial Condition, Liquidity and Capital Resources](index=42&type=section&id=Financial%20Condition,%20Liquidity%20and%20Capital%20Resources) - Cash from operations for the nine months ended Sep 30, 2023, increased to **$535.3 million** from **$393.8 million** in the prior year, primarily due to higher net income[158](index=158&type=chunk) - The company invested **$60 million** in the acquisition of EIG and **$103.8 million** in capital expenditures during the first nine months of 2023[159](index=159&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk) - The company repurchased **$30.0 million** of its common stock in the first nine months of 2023, compared to **$150.0 million** in the same period of 2022[160](index=160&type=chunk)[168](index=168&type=chunk) - The company maintains a **$750 million** revolving credit facility, which was undrawn as of September 30, 2023. The Total Debt to Total Capital ratio improved to **35%** from **38%** at year-end 2022[170](index=170&type=chunk)[172](index=172&type=chunk)[177](index=177&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no significant changes in its exposure to market risks, including foreign currency, material prices, and interest rates, during the first nine months of 2023 - There have been no significant changes in the Company's exposure to market risks (foreign currency, material prices, interest rates) during the first nine months of 2023[187](index=187&type=chunk) [Item 4. Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation by management, the CEO and CFO concluded that as of September 30, 2023, the Company's disclosure controls and procedures were effective at the reasonable assurance level[190](index=190&type=chunk) - No changes in internal control over financial reporting occurred during the most recent quarter that have materially affected, or are reasonably likely to materially affect, these controls[191](index=191&type=chunk) Part II - Other Information [Item 1A. Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to its risk factors from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes in the Company's risk factors from those disclosed in the Annual Report on Form 10-K for the year ended December 31, 2022[193](index=193&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2023, the company repurchased common stock, with **$376.7 million** remaining available under authorized repurchase programs as of September 30, 2023 Unregistered Sales of Equity Securities and Use of Proceeds | Period | Shares Purchased (000s) | Average Price Paid | Total Cost ($M) | | :--- | :--- | :--- | :--- | | **Q3 2023 Total** | 32 | $311.62 | ~10.0 | - As of September 30, 2023, the company had **$376.7 million** remaining under its share repurchase authorizations, which includes **$76.7 million** under the 2020 program and the full **$300 million** under the October 2022 program[197](index=197&type=chunk) [Item 5. Other Information](index=51&type=section&id=Item%205.%20Other%20Information) During Q3 2023, no director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement - During Q3 2023, no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement"[199](index=199&type=chunk) [Item 6. Exhibits](index=52&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and financial statements in Inline XBRL format

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, 2023 ☐ 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 Incorporated (NYSE:HUBB) Q2 2023 Results Conference Call July 25, 2023 10:00 AM ET Company Participants Dan Innamorato - Vice President of Investor Relations Gerben Bakker - Chairman, President and CEO Bill Sperry - Executive Vice President and CFO Conference Call Participants Tommy Moll - Stephens Josh Pokrzywinski - Morgan Stanley Nigel Coe - Wolfe Research Joe O'Dea - Wells Fargo Steve Tusa - JPMorgan Chris Snyder - UBS Christopher Glynn - Oppenheimer Operator Good morning, and thank you for stan ...

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 March 31, 2023 ☐ 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 06-0 ...

Hubbell Incorporated (NYSE:HUBB) Q1 2023 Earnings Conference Call April 25, 2023 10:00 AM ET Company Participants Dan Innamorato - Vice President, Investor Relations Gerben Bakker - Chairman, President & Chief Executive Officer Bill Sperry - Executive Vice President & Chief Financial Officer Conference Call Participants Jeffrey Sprague - Vertical Research Steve Tusa - JPMorgan Tommy Moll - Stephens Josh Pokrzywinski - Morgan Stanley Joe O'Dea - Wells Fargo Nigel Coe - Wolfe Research Chris Snyder - UBS Chris ...

Notable strength in renewables and T&D datacenter / telcom verticals strong Net sales ~flat sequentially versus 4Q22 Price | Material positive Lower y/y volumes Strong execution and margin expansion HES Growth Spotlight: Renewables Vertical Investing in vertical market salesforce as part of HES segment unification strategy Deepened relationships with EPCs, developers and distributors to become full solutions provider Playbook for strategic growth vertical markets (datacenter, telcom, EV and battery storage) ...

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, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 or organization) (I.R.S. Employer I ...

Hubbell Incorporated (NYSE:HUBB) Q4 2022 Earnings Conference Call January 31, 2023 10:00 AM ET Company Participants Dan Innamorato - Director, Investor Relations Gerben Bakker - Chairman, President and Chief Executive Officer Bill Sperry - Executive Vice President and Chief Financial Officer Conference Call Participants Jeff Sprague - Vertical Research Partners Steve Tusa - JPMorgan Tommy Moll - Stephens Josh Pokrzywinski - Morgan Stanley Brad Lindsey - Mizuho Nigel Coe - Wolfe Research Christopher Glynn - ...