Financial Performance - Net sales decreased by 1% year-over-year, from $2.237 billion to $2.204 billion[31] - Adjusted EBITDA decreased from $402 million to $336 million, a decrease of $66 million[31] - Adjusted EBITDA margin decreased by 270 basis points to 15.3%[31] - Adjusted EPS decreased by $0.18, from $0.60 to $0.42[31] - The company repurchased approximately 5.0 million shares at an average price of $22.26 per share, resulting in a 1.6% reduction in shares outstanding[34] Strategic Updates and Innovation - Waco, Texas recycled paperboard investment is on track for Q4 2025 startup[7] - Innovation Sales Growth reached $61 million in the quarter[7] - Volume increased by 1% year-over-year, while price decreased by 1% year-over-year[7] Guidance - Net Sales guidance revised to $8.4 billion to $8.6 billion[36] - Adjusted EBITDA guidance revised to $1.45 billion to $1.55 billion[36] - Capital Spending guidance revised to approximately $850 million[36]

July 29, 2025 Safe Harbor Statement Disclosures in this presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, those relating to future financial and operational results, market and broader economic conditions and guidance. Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," " ...

Financial Performance - Revenue increased to $140.6 million in Q2 2025, up from $138.1 million in Q2 2024 and $135.2 million in Q1 2025[8, 10] - Net income rose to $7.3 million in Q2 2025, compared to $4.7 million in Q2 2024 and $0.6 million in Q1 2025[10] - Adjusted EBITDA for Q2 2025 was $20.6 million, with an Adjusted EBITDA Margin of 14.7%[10, 12] - Free Cash Flow generation was $14.4 million in Q2 2025[6, 10] Segment Highlights - High-Specification Rigs segment revenue was $86.3 million in Q2 2025[15] - Processing Solutions & Ancillary Services segment revenue increased to $32.2 million in Q2 2025[20] - Wireline Services segment revenue rebounded to $22.1 million in Q2 2025[25] Capital Returns - The company repurchased 278,100 shares in Q2 2025 for $3.3 million at an average price of $12.01 per share[6] - $4.6 million of Free Cash Flow was returned to shareholders through dividends and repurchases in Q2 2025[6] - Since the program inception, a total of 3,603,900 shares have been repurchased, representing 16% of the company's outstanding shares[6] Liquidity - The company ended Q2 2025 with $120.1 million of liquidity, including $48.9 million of cash on hand[13]

Financial Performance & Outlook - The company anticipates 2025 organic growth of +4-6%[24] - The company is raising the 2025 adjusted EPS outlook range to $1765-$1815[30] - Second quarter adjusted diluted EPS increased by 11% year-over-year, from $444 to $493[12] - Second quarter organic net sales increased by 2%[12] Segment Results - Hubbell Utility Solutions (HUS) - HUS second quarter organic sales increased by 1%[15] - HUS second quarter adjusted operating profit increased by 7%[15] - Grid Infrastructure sales were $699 million, with a +7% organic increase[16] - Grid Automation sales were $237 million, with a -13% organic decrease[16] Segment Results - Hubbell Electrical Solutions (HES) - HES second quarter organic sales increased by 4%[20] - HES second quarter adjusted operating profit increased by 9%[20]

Financial Highlights - Fiscal Q4 2025 revenue grew by 2.8% year-over-year to $21.1 billion[9, 27] - Gross profit increased by 3.9% year-over-year to $4.0 billion[9, 27] - Adjusted EPS increased by 6.5% year-over-year to $1.48[9, 28] - International segment adjusted operating income grew by 20.1% year-over-year to $197 million[9, 41] - SYGMA's net sales increased by 5.9% year-over-year to $2.2 billion[44] Segment Performance - U S Foodservice (USFS) net sales increased by 2.4% year-over-year to $14.8 billion[37] - USFS local volume declined 1.5% year-over-year, showing a 200 basis point sequential improvement from Q3[9, 29, 39] - International sales increased by 3.6% year-over-year to $3.9 billion[41] - SYGMA's net sales increased by 5.9% year-over-year to $2.2 billion[44] Fiscal Year 2025 Results - Net sales increased by 3.2% year-over-year to $81.4 billion[47] - Gross profit increased by 2.5% year-over-year to $15.0 billion[47, 49] - Adjusted EBITDA increased by 2.4% year-over-year to $4.3 billion[49] - Adjusted EPS increased by 3.5% year-over-year to $4.46[49] Fiscal Year 2026 Guidance - Sales growth is projected to be between 3% and 5%[68] - Adjusted EPS growth is projected to be between 1% and 3%, but 5% to 7% excluding incentive compensation headwind[68]

Financial Performance - Adjusted sales were $1848 million, a 6% year-over-year increase[9] - Adjusted gross profit margin was 19.5%, up 232 bps year-over-year[9] - Adjusted EPS was $0.40, a 71% year-over-year increase[9] - The company generated approximately $290 million in free cash flow in Q2[52] Segment Performance - Off-Road Vehicle (ORV) North America retail sales increased by 1% year-over-year[33] - On Road North America Indian Motorcycle retail sales increased by low-double digits % year-over-year[40] - Marine sales increased by 16% year-over-year[42] Tariff Impact - The updated estimate for the 2025 tariff impact is $120-$130 million[19] - The company aims to reduce China spending to the U S by approximately 35% by year-end[22] Inventory and Outlook - Dealer inventory is down 13% year-over-year and down 16% excluding Snow and Youth[12] - Third quarter sales are expected to be between $16 billion to $18 billion[53]

2025 EARNINGS CALL Q2 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL INFORMATION Certain statements in this presentation relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements regarding revenues, costs and financial results for 2025 and beyond; our progress toward achievement of our Perfecta Program; demand for ...

Safe Harbor This Presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this Presentation are forward-looki ...

Earnings Presentation July 29, 2025 Forward-Looking Statements Forward-Looking Statements: Certain of the statements made in this release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions estimates, intentions, and future performance, including, without limitation, our intention to make share repurchases or ...

Second Quarter 2025 Earnings Call July 29, 2025 Forward-Looking Statements Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain "forward-looking statements" with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they con ...