Shelton, CT, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) today announced that Gerben Bakker, Chairman and Chief Executive Officer, will appear at the Morgan Stanley 2026 Laguna Conference. The event will be webcast and is scheduled to begin at 10:45AM PT on Thursday, September 17, 2026.
The live audio of the event will be available and can be accessed by visiting Hubbell's Investor Relations section. You can also access this information by going to www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu. The audio will be archived 24 hours after the event and can be accessed by going to www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu, then selecting "Past Events".
About the Company
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.
Callan Family Office LLC purchased a new position in Hubbell Inc (NYSE:HUBB – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,994 shares of the industrial products company’s stock, valued at approximately $1,043,000.
Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Hubbell during the 2nd quarter valued at about $2,455,986,000. Bank of New York Mellon Corp purchased a new position in Hubbell in the second quarter worth about $783,142,000. Wellington Management Group LLP raised its holdings in Hubbell by 140.4% in the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after buying an additional 1,468,701 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Hubbell in the second quarter worth approximately $610,053,000. Finally, Boston Partners lifted its stake in shares of Hubbell by 37.8% in the fourth quarter. Boston Partners now owns 1,015,118 shares of the industrial products company’s stock worth $452,675,000 after buying an additional 278,649 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Insider Buying and Selling at Hubbell In other news, VP Nero Jonathan M. Del sold 547 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total value of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. This trade represents a 15.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.63% of the stock is owned by insiders.
Hubbell Price Performance HUBB opened at $466.72 on Tuesday. The company’s 50-day simple moving average is $495.45 and its two-hundred day simple moving average is $498.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. The stock has a market capitalization of $24.66 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.30 and a beta of 0.90. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50. Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $4.93 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, analysts predict that Hubbell Inc will post 20.41 EPS for the current year.
Hubbell Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell’s dividend payout ratio is presently 33.63%.
Analyst Upgrades and Downgrades A number of equities research analysts have recently commented on HUBB shares. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Robert W. Baird started coverage on shares of Hubbell in a report on Thursday. They issued an “outperform” rating and a $550.00 price objective for the company. Wells Fargo & Company upped their price objective on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Finally, Stephens lifted their target price on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $553.89.
Check Out Our Latest Research Report on Hubbell
About Hubbell (Free Report)
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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Bank of New York Mellon Corp acquired a new stake in Hubbell Inc (NYSE:HUBB – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,496,831 shares of the industrial products company’s stock, valued at approximately $783,142,000. Bank of New York Mellon Corp owned about 2.83% of Hubbell at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in HUBB. Ballentine Partners LLC raised its position in shares of Hubbell by 1.9% during the 4th quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock worth $572,000 after purchasing an additional 24 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Hubbell by 2.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after buying an additional 24 shares during the last quarter. Quest Investment Management LLC grew its holdings in Hubbell by 1.3% during the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after buying an additional 25 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Hubbell by 1.1% during the fourth quarter. Gulf International Bank UK Ltd now owns 2,678 shares of the industrial products company’s stock worth $1,189,000 after buying an additional 28 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Hubbell by 1.7% during the first quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock worth $833,000 after buying an additional 28 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.
Hubbell Stock Down 1.1% Shares of NYSE HUBB opened at $470.45 on Friday. The stock has a fifty day moving average price of $496.03 and a 200 day moving average price of $498.62. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The company has a market cap of $24.85 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.33 and a beta of 0.90.
Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm posted $4.93 earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Research analysts anticipate that Hubbell Inc will post 20.41 EPS for the current fiscal year. Hubbell Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell’s payout ratio is presently 33.63%.
Analysts Set New Price Targets A number of research analysts have issued reports on HUBB shares. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Robert W. Baird set a $550.00 target price on shares of Hubbell in a research report on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $515.00 target price on shares of Hubbell in a research note on Tuesday, June 16th. Wells Fargo & Company increased their price target on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Barclays lifted their price objective on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.89.
Read Our Latest Analysis on Hubbell
Insider Buying and Selling at Hubbell In other news, VP Nero Jonathan M. Del sold 547 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president directly owned 2,933 shares in the company, valued at approximately $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.
Hubbell Company Profile (Free Report)
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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Hubbell Incorporated is now fully valued, but its premium is justified by durable secular tailwinds and strong growth visibility. HUBB benefits from grid modernization, electrification, data center demand, and transmission expansion, supporting high margins and superior returns on capital. Recent results show robust revenue and EPS growth, with management confident in continued momentum and raised FY2026 guidance to $20.25–$20.55 adjusted EPS.
Hubbell Incorporated (HUBB) Q2 2026 Earnings Call July 28, 2026 10:00 AM EDT
Company Participants
Daniel Innamorato - Director of Investor Relations
Gerben Bakker - President, CEO & Chairman
Joseph Capozzoli - Senior VP & CFO
Conference Call Participants
Jeffrey Sprague - Vertical Research Partners, LLC
Christopher Snyder - Morgan Stanley, Research Division
Charles Albert Dillard - Bernstein Institutional Services LLC, Research Division
Thomas Moll - Stephens Inc., Research Division
Christopher Glynn - Oppenheimer & Co. Inc., Research Division
Nigel Coe - Wolfe Research, LLC
Alexander Virgo - Evercore ISI Institutional Equities, Research Division
Neal Burk - UBS Investment Bank, Research Division
Brett Linzey - Mizuho Securities USA LLC, Research Division
Presentation
Operator
Thank you for standing by, and welcome to the Hubbell Inc. Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Dan Innamorato, Vice President, Investor Relations. Please go ahead, sir.
Daniel Innamorato
Director of Investor Relations
Thanks, operator. Good morning, everyone, and thank you for joining us. Earlier this morning, we issued a press release announcing our results for the second quarter of 2026. The press release and slides are posted to the Investors section of our website at hubbell.com.
I'm joined today by our Chairman, President and CEO, Gerben Bakker; and our CFO, Joe Capozzoli. Please note our comments this morning may include statements related to the expected future results of our company. These are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Please note the discussion of forward-looking statements in our press release and considered incorporated by reference into this call.
Additionally, comments may also include non-GAAP financial measures. Those measures are reconciled to the comparable GAAP measures, which are included in the press release and slides.
3 Sustainable Stocks Benefiting From the AI Energy SurgeHubbell NYSE: HUBB reported second-quarter 2026 results marked by double-digit sales, adjusted operating profit and adjusted earnings-per-share growth, citing demand in utility transmission and distribution markets as well as data centers. The company also raised its full-year outlook following the early-June close of its acquisition of NSI.
Second-quarter net sales rose 15% from a year earlier to $1.712 billion, including 10% organic growth and a 5-percentage-point contribution from acquisitions. Adjusted operating profit increased 13% to $409 million, while adjusted operating margin was 23.9%, modestly below the prior-year period. Adjusted diluted earnings per share increased 12% to $5.52.
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Hubbell, Rockwell stocks set to benefit from electrification boomChairman, President and CEO Gerben Bakker said the company is seeing continued strength in its order book as investment accelerates in data centers and utility transmission and distribution, or T&D, infrastructure. “Mega trends continue to accelerate, most notably in data center markets and load growth-related investment in utility T&D markets,” Bakker said.
NSI acquisition and capital plans Hubbell closed its previously announced acquisition of NSI in early June. Bakker said the acquired company adds electrical fittings through the Bridgeport Fittings brand, grounding and connector products through Polaris, and network-infrastructure exposure that can support Hubbell’s datacom, broadband and data-center businesses.
2 little known AI stocks are up more than 200% this year CFO Joe Capozzoli said the $3 billion purchase was financed through a combination of a term loan, bond offering and commercial paper. The transaction increased Hubbell’s pro forma net debt-to-EBITDA leverage to about 2.9 times.
NSI is expected to add about $0.20 to adjusted earnings per share in 2026 and about $0.80 in 2027, Capozzoli said. The company is targeting sales synergies of 2% to 3% over the next three years through channel and vertical-market penetration, along with cost synergies of about 3% to 5% from combined operations, supply chains, IT systems and back-office capabilities.
Hubbell plans to invest in capacity and productivity while continuing dividend growth and modest share repurchases. It also intends to pay down a significant portion of acquisition-related debt over the next 24 to 30 months, according to Capozzoli.
Utility Solutions demand builds Utility Solutions generated second-quarter sales of $1.026 billion, up 10% year over year, including 6% organic growth and 4% growth from acquisitions. Adjusted operating profit rose 10% to $263 million, with margins slightly higher than the prior-year period.
The company’s grid infrastructure business grew 7% organically, led by double-digit growth in distribution markets. Transmission and substation sales also increased, and management expects double-digit growth in those markets for the full year as larger projects ramp in the second half and capacity investments come online.
Utility Solutions recorded a first-half book-to-bill ratio of about 1.2 times. Bakker said orders were broad-based across T&D markets, with particular strength in transmission and substation projects tied to load growth and data-center development. He added that some transmission and substation orders are now being booked into 2027.
Management said its first 765-kilovolt project is expected to begin shipping in 2027, while 550-kilovolt projects are expected to ship during the second half of 2026. Bakker said project quoting in transmission and substation has approximately doubled over the past couple of years.
Grid automation returned to year-over-year growth during the quarter, aided by protection and controls products. Revenue from meters and advanced metering infrastructure grew sequentially, while orders supported expectations for further recovery in the second half and into 2027.
Electrical Solutions led by data centers Electrical Solutions posted $686 million in second-quarter sales, up 25% from a year earlier. Organic sales grew 18%, supported by data-center, light-industrial and non-residential markets. Data-center sales increased about 65% during the quarter, driven by added capacity, product introductions and content gains, management said.
NSI contributed $35 million in sales during its partial month of ownership in June, representing roughly 7 percentage points of segment growth. Hubbell said early order activity and customer response have been favorable.
Electrical Solutions adjusted operating profit increased 18% to $146 million. Its adjusted operating margin declined 130 basis points to 21.2%, as higher inflation and restructuring-related investments offset volume growth, pricing, productivity and NSI’s profit contribution. Capozzoli said the company expects Electrical Solutions margins to return to year-over-year expansion in both the third and fourth quarters.
Hubbell said it implemented broad pricing actions in April and additional price increases in July. Capozzoli said the company now expects roughly 3 to 4 percentage points of price realization for the full year, compared with an initial expectation of 2 points, as it responds to higher inflation.
Guidance raised for 2026 Hubbell raised its full-year sales growth outlook to 16% to 18%, from 8% to 11%. The updated forecast includes expected organic growth of 9% to 11%, up from a prior range of 6% to 9%, plus an additional five percentage points of acquisition contribution from NSI.
Utility Solutions organic growth is projected at 7% to 9%. Electrical Solutions organic growth is projected at 12% to 14%. Full-year data-center sales are expected to grow approximately 50%. Adjusted operating margin is projected at 23.1% to 23.4%, representing 40 to 70 basis points of year-over-year expansion. Adjusted diluted EPS is projected at $20.25 to $20.55, up from prior guidance of $19.30 to $19.85. The outlook includes expected net interest expense of $170 million related to the NSI financing and a full-year adjusted tax rate of 22% to 22.5%. Hubbell expects third-quarter tax rates of about 24% due to the timing of discrete items.
The company expects approximately 90% free-cash-flow conversion of adjusted net income in 2026. Second-quarter free cash flow was $213 million, while first-half free cash flow totaled $259 million, up 12% year over year. Management said elevated capital expenditures, acquisition costs and working-capital needs are expected to keep conversion near 90% over the next several years as it expands capacity.
About Hubbell (NYSE:HUBB)Hubbell Incorporated NYSE: HUBB is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company's offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Hubbell (HUBB - Free Report) came out with quarterly earnings of $5.52 per share, beating the Zacks Consensus Estimate of $5.31 per share. This compares to earnings of $4.93 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.96%. A quarter ago, it was expected that this electrical products manufacturer would post earnings of $3.87 per share when it actually produced earnings of $3.93, delivering a surprise of +1.55%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Hubbell, which belongs to the Zacks Manufacturing - Electrical Utilities industry, posted revenues of $1.71 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.67%. This compares to year-ago revenues of $1.48 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Hubbell shares have added about 12.1% since the beginning of the year versus the S&P 500's gain of 8.3%.
What's Next for Hubbell?While Hubbell has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Hubbell was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $5.59 on $1.82 billion in revenues for the coming quarter and $19.98 on $6.78 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Electrical Utilities is currently in the top 4% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Industrial Products sector, Terex (TEX - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.
This machinery products maker is expected to post quarterly earnings of $1.25 per share in its upcoming report, which represents a year-over-year change of -16.1%. The consensus EPS estimate for the quarter has been revised 1.7% higher over the last 30 days to the current level.
Terex's revenues are expected to be $2.14 billion, up 43.7% from the year-ago quarter.
Hubbell (HUBB - Free Report) reported $1.71 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 15.3%. EPS of $5.52 for the same period compares to $4.93 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.68 billion, representing a surprise of +1.67%. The company delivered an EPS surprise of +3.96%, with the consensus EPS estimate being $5.31.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Hubbell performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Electrical Solutions: $686 million versus the three-analyst average estimate of $639.09 million. The reported number represents a year-over-year change of +25%.Net Sales- Utility Solutions: $1.03 billion versus the three-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +9.7%.Adjusted operating income- Utility Solutions: $262.8 million versus the three-analyst average estimate of $270 million.Adjusted operating income- Electrical Solutions: $145.7 million compared to the $137.77 million average estimate based on three analysts.View all Key Company Metrics for Hubbell here>>>
Shares of Hubbell have returned -3.3% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Q2 diluted EPS of $4.52; adjusted diluted EPS of $5.52 (up 12% y/y)Q2 net sales +15% (organic +10%; M&A +5%)Q2 operating margin 20.4%; adjusted operating margin 23.9% (down 50 bps y/y)FY 2026 diluted EPS expected range of $17.25-$17.55; raising adj. diluted EPS to $20.25-$20.55 SHELTON, CT. (July 28, 2026) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the second quarter ended June 30, 2026.
"Hubbell delivered strong performance in the second quarter, with double digit growth in sales, adjusted operating profit and adjusted earnings per share" said Gerben Bakker, Chairman, President and CEO.
Mr. Bakker continued, "Our strong positions in attractive end markets, as well as continued execution on our strategy, are demonstrated by our strong second quarter and first half financial results. Megatrends in grid modernization, load growth and datacenter investment drove 10% organic growth in the second quarter, with visible demand strength across utility and electrical markets. Operationally, we are managing inflation effectively through price and productivity actions while investing in capacity expansion to serve our customers in high growth areas and deploying capital to further upgrade our portfolio in high growth and margin areas within our core."
Mr. Bakker concluded, "Strong first half order trends provide visibility to our second half outlook, and we are increasing our full year outlook to reflect double digit growth in organic sales, adjusted operating profit and adjusted earnings per share at the midpoint of our range."
Certain terms used in this release, including “net debt”, “free cash flow”, “organic net sales”, “organic net sales growth”, “restructuring-related costs”, “Adjusted EBITDA”, and certain other “adjusted” measures, are defined under the section entitled “Non-GAAP Definitions.” See page 11 for more information.
SECOND QUARTER FINANCIAL HIGHLIGHTS
The comments and year-over-year comparisons in this segment review are based on second quarter results in 2026 and 2025.
Utility Solutions segment net sales in the second quarter of 2026 increased 10% to $1,026 million compared to $936 million reported in the second quarter of 2025. Organic net sales increased approximately 6% in the quarter compared to the second quarter 2025. Grid Infrastructure net sales increased approximately 12% and Grid Automation net sales increased approximately 1%. Segment operating income in the second quarter of 2026 was $234 million, or 22.8% of net sales, compared to $218 million, or 23.3% of net sales, in the same period of 2025. Adjusted operating income was $263 million, or 25.6% of net sales, in the second quarter of 2026 as compared to $239 million, or 25.5% of net sales, in the same period of the prior year. Changes in operating income and operating margin were primarily due to volume growth, the impact of acquisitions and favorable price and productivity, partially offset by higher cost inflation, raw material costs and tariffs.
Electrical Solutions segment net sales in the second quarter of 2026 increased 25% to $686 million compared to $549 million reported in the second quarter of 2025. Organic net sales increased 18% in the quarter, while acquisitions added 6.5%. Segment operating income in the second quarter of 2026 was $115 million, or 16.7% of net sales, compared to $118 million, or 21.5% of net sales, in the same period of 2025. Adjusted operating income was $146 million, or 21.2% of net sales, in the second quarter of 2026 as compared to $124 million, or 22.5% of net sales, in the same period of the prior year. Changes in operating income and operating margin were driven primarily by volume growth, the impact of acquisitions and favorable price realization and productivity, partially offset by higher cost inflation, raw material costs, tariffs and restructuring investment.
Adjusted diluted EPS in the second quarter 2026 excluded $0.56 of amortization of acquisition-related intangible assets and $0.44 of transaction, integration, and separation costs. Adjusted diluted EPS in the second quarter 2025 excluded $0.36 of amortization of acquisition-related intangible assets and $0.01 of transaction, integration, & separation costs.
During the second quarter, the Company acquired all of the issued and outstanding equity of NSI Electrical Buyer, Inc. ("NSI Industries"), a leading provider of electrical fittings, connectors, components and wire management products, for approximately $3.0 billion, using net proceeds from borrowings under a new unsecured term loan facility in an aggregate principal amount of $900 million, the issuance of $1.9 billion aggregate principal amount of senior notes and issuances of commercial paper.
Net cash provided by operating activities was $250 million in the second quarter of 2026 versus net cash provided by operating activities of $261 million in the 2025 period. Free cash flow was $213 million in the second quarter of 2026 versus $221 million in the comparable period of 2025.
SUMMARY & OUTLOOK
For the full year 2026, Hubbell anticipates total sales growth of 16-18% including organic sales growth of 9-11%. Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.25 to $17.55 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.25 to $20.55. For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.50 per share. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy.
The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of 22.0% to 22.5% and include approximately $20 million of anticipated restructuring and related investment. The Company expects full year 2026 free cash flow conversion of approximately 90% on adjusted net income.
CONFERENCE CALL
Hubbell will conduct an earnings conference call to discuss its second quarter 2026 financial results today, July 28, 2026 at 10:00 a.m. ET. A live audio of the conference call will be available and can be accessed by visiting Hubbell's "Investor Relations - Events/Presentations" section of www.hubbell.com. Audio replays will also be available at the conclusion of the call by visiting www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu.
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 statements generally relate to our expectations and beliefs regarding our financial results, condition and outlook, projections of future performance, anticipated growth and end markets, changes in operating results, market conditions and economic conditions, expected capital resources, liquidity, financial performance, pension funding and results of operations, plans, strategies, opportunities, developments and productivity initiatives, competitive positioning, and trends in particular markets or industries. In addition, statements related to our outlook for 2026 and beyond, and all statements set forth in the “Summary & Outlook” section above, as well as other statements that are not strictly historic in nature, are forward-looking. These statements may be identified by the use of forward-looking words or phrases such as “believe”, “expect”, “anticipate”, “intend”, “depend”, “plan”, “estimated”, “predict”, “target”, “should”, “could”, “may”, “subject to”, “continues”, “growing”, “prospective”, “forecast”, “projected”, “purport”, “might”, “if”, “contemplate”, “potential”, “pending”, “goals”, “scheduled”, “will”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or the Company’s achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the impact of and substantial uncertainty regarding the duration of existing and newly announced trade tariffs, import quotas or other trade actions, restrictions or measures taken by the United States, China, Mexico, the United Kingdom, member states of the European Union, and other countries, including the recent and ongoing potential changes in U.S. trade policies, that may be made by the current or a future presidential administration and changes in trade policies in other countries made in response to changes in the U.S. trade policies; the timing of and eligibility for anticipated International Emergency Economic Power Act (IEEPA) tariff refunds; the general impact of inflation on our business, including the impact on raw materials costs, elevated interest rates and increased energy costs and our ability to implement and maintain pricing actions that we have taken to cover higher costs and protect our margin profile; economic and business conditions in particular industries, markets or geographic regions, as well the potential for macro-economic effects of the U.S. government federal deficit, and continued inflation, a significant economic slowdown, stagflation or recession; effects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to fluctuating rates of foreign currency exchange on inventory purchases; supply chain disruptions and availability,
costs and quantity of raw materials, purchased components, energy and freight; changes in demand for our products, market conditions, product quality, or product availability adversely affecting sales levels; ability to effectively develop and introduce new products; changes in markets or competition adversely affecting realization of price increases; continued softness in the heavy industrial and residential markets of Electrical Solutions; failure to achieve projected levels of efficiencies, and maintain cost savings and cost reduction measures, including those expected as a result of our lean initiatives and strategic sourcing plans; failure to comply with import and export laws; changes relating to impairment of our goodwill and other intangible assets; inability to access capital markets or failure to maintain our credit ratings; changes in expected or future levels of operating cash flow, indebtedness and capital spending; regulatory issues, and extensive worldwide changes to the taxation of multinational enterprises, including global minimum tax rules under the Organisation for Economic Co-operation and Development’s Pillar Two initiative and potential modifications to corporate taxation by the U.S. government, including adjustments to tax rates, deduction limitations, cross-border tax provisions, and administrative guidance; a major disruption in one or more of our manufacturing or distribution facilities or headquarters, including the impact of plant consolidations and relocations; changes in our relationships with, or the financial condition or performance of, key distributors and other customers, agents or business partners which could adversely affect our results of operations; impact of productivity improvements on lead times, quality and delivery of product; anticipated future contributions and assumptions including increases in interest rates and changes in plan assets with respect to pensions and other retirement benefits, as well as pension withdrawal liabilities; adjustments to product warranty accruals in response to claims incurred, historical experiences and known costs; unexpected costs or charges, certain of which might be outside of our control; changes in strategy due to economic conditions or other conditions outside of our control affecting anticipated future global product sourcing levels; ability to carry out future acquisitions and strategic investments in our core businesses as well as the acquisition related costs; the ability to successfully manage and integrate acquired businesses, such as the acquisitions of NSI Electrical Buyer, Inc. (the NSI Industries business), Alliance USAcqCo 2, Inc. (the Ventev business), Nicor, Inc. (the Nicor business), and Power Rose Acquisition, Inc. (the DMC Power business), as well as the failure to realize expected synergies and benefits anticipated when we make an acquisition due to potential adverse reactions or changes to business or employee relationships resulting from completion of the transaction, competitive responses to the transaction, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of an acquired business, diversion of management’s attention from ongoing business operations and opportunities, and litigation relating to the transaction; the impact of certain divestitures, including the benefits and costs of the sale of the residential lighting business;
the ability to effectively implement Enterprise Resource Planning systems without disrupting operational and financial processes; the ability of government customers to meet their financial obligations; political unrest and military actions in foreign countries, including the conflicts in Ukraine and the Middle East and trade tensions with China, as well as the impact on world markets and energy supplies and prices resulting therefrom, including the U.S.-Israel-Iran conflict, which has had substantial effects on global trade, the energy markets and the financial markets; the impact of potential natural disasters or additional public health emergencies on our financial condition and results of operations; failure of information technology systems, cybersecurity breaches, cyber threats, malware, phishing attacks, break-ins and similar events resulting in unauthorized disclosure of confidential information or disruptions or damage to information technology systems that could cause interruptions to our operations or adversely affect our internal control over financial reporting; incurring significant and/or unexpected costs to avoid, manage, defend and litigate intellectual property matters; future repurchases of common stock under our common stock repurchase program; changes in accounting principles, interpretations, or estimates; failure to comply with any laws and regulations, including those related to data privacy and information security, environmental laws and those relating to conflict-free minerals; the outcome of environmental, legal and tax contingencies or costs compared to amounts provided for such contingencies, including contingencies or costs with respect to pension withdrawal liabilities; improper conduct by any of our employees, agents or business partners that damages our reputation or subjects us to civil or criminal liability; our ability to hire, retain and develop qualified personnel; and other factors described in our Securities and Exchange Commission filings, including in the “Business”, “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Forward-Looking Statements” and “Quantitative and Qualitative Disclosures about Market Risk” sections in our Annual Report on Form 10-K for the year ended December 31, 2025, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Any such forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements. The Company disclaims any duty to update any forward-looking statement, all of which are expressly qualified by the foregoing, other than as required by law.
About the Company
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.
References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management believes these adjusted operating measures provide useful information regarding our underlying performance from period to period and an understanding of our results of operations without regard to items we do not consider a component of our core operating performance. Adjusted operating measures are non-GAAP measures, and include adjusted operating income, adjusted operating margin, adjusted net income attributed to Hubbell Incorporated, adjusted net income available to common shareholders, adjusted earnings per diluted share, and Adjusted EBITDA. These non-GAAP measures exclude, where applicable:
Amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization associated with those acquisitions. The intangible assets associated with our business acquisitions arise from the allocation of the purchase price using the acquisition method of accounting in accordance with Accounting Standards Codification 805, “Business Combinations.” These assets consist primarily of customer relationships, developed technology, trademarks and tradenames, and patents, as reported in Note 6—Goodwill and Other Intangible Assets, under the heading “Total Definite-Lived Intangibles,” within the Company’s audited Consolidated Financial Statements set forth in its Annual Report on Form 10-K for fiscal year ended December 31, 2025. The Company believes that the exclusion of these non-cash expenses because we believe it (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of our results with the results of other companies as the amortization expense associated with these assets may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although we exclude amortization of these acquired intangible assets and inventory step-up from our non-GAAP results, we believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted net income attributable to Hubbell Incorporated. Transaction, integration, and separation costs associated with our business acquisitions and divestitures. The effect that acquisitions and divestitures may have on our results can fluctuate significantly based on the timing, size, and number of transactions, and therefore result in significant volatility in the costs to complete transactions and integrate or separate the businesses. Transaction costs are primarily professional services and other fees incurred to complete the transactions recognized within operating income, as well as $7.2 million of bridge financing costs in connection with the transactions recognized within interest expense. Integration and separation costs are the internal and external incremental costs directly relating to these activities for the acquired or divested business. The acquisition and integration of NSI, DMC Power and the acquisitions and disposition completed by the Company in the fourth quarter of 2023 resulted in a significant increase in transaction, integration and separation costs. As a result, we believe excluding such costs relating to these transactions provides useful and more comparable information for investors to better assess our operating performance from period to period.Gains or losses on disposition of a business. The Company excludes these gains or losses because we believe they enhance management's and investors' ability to analyze underlying business performance and facilitates comparisons of our financial results over multiple periods. In the second quarter of 2025 the Company recognized a $0.4 million pre-tax loss on the disposition of a product line in the Electrical Solutions segment.Income tax effects of the above adjustments, which are calculated using the statutory tax rate, taking into consideration the nature of the item and the relevant taxing jurisdiction, unless otherwise noted. Adjusted EBITDA is a non-GAAP measure that excludes the items noted above and also excludes the Other income (expense), net, Interest expense, net, and Provision for income taxes captions of the Condensed Consolidated Statement of Income, as well as depreciation and amortization expense.
Net debt (defined as total debt less cash and investments) to total capital is a non-GAAP measure that we believe is a useful measure for evaluating the Company's financial leverage and the ability to meet its funding needs.
Free cash flow is a non-GAAP measure that we believe provides useful information regarding the Company's ability to generate cash without reliance on external financing. In addition, management uses free cash flow to evaluate the resources available for investments in the business, strategic acquisitions and further strengthening the balance sheet.
In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. GAAP, which are primarily severance and employee benefits, asset impairments, accelerated depreciation, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. We also incur restructuring-related costs, which are costs associated with our business transformation initiatives, including the consolidation of back-office functions and streamlining our processes, and certain other costs and gains associated with restructuring actions. We refer to these costs on a combined basis as "restructuring and related costs", which is a non-GAAP measure.
Organic net sales, a non-GAAP measure, represents Net sales according to U.S. GAAP, less Net sales from acquisitions and divestitures during the first twelve months of ownership or divestiture, respectively, less the effect of fluctuations in Net sales from foreign currency exchange. The period-over-period effect of fluctuations in Net sales from foreign currency exchange is calculated as the difference between local currency Net sales of the prior period translated at the current period exchange rate as compared to the same local currency Net sales translated at the prior period exchange rate. We believe this measure provides management and investors with a more complete understanding of the underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and foreign currency, as these activities can obscure underlying trends. When comparing Net sales growth between periods excluding the effects of acquisitions, business dispositions and currency exchange rates, those effects are different when comparing results for different periods. For example, because Net sales from acquisitions are considered inorganic from the date we complete an acquisition through the end of the first year following the acquisition, Net sales from such acquisitions are reflected as organic net sales thereafter.
There are limitations to the use of non-GAAP measures. Non-GAAP measures do not present complete financial results. We compensate for this limitation by providing a reconciliation between our non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported GAAP financial results, and should be viewed in conjunction with the most comparable GAAP financial measures and the provided reconciliations thereto. We believe, however, that these non-GAAP financial measures, when viewed together with our GAAP results and related reconciliations, provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.
Reconciliations of each of these non-GAAP measures to the most directly comparable GAAP measure can be found in the tables below. When we provide our expectations for organic net sales, adjusted effective tax rate, adjusted diluted EPS and free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures (expected net sales, effective tax rate, diluted EPS and net cash flows provided by operating activities) generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, certain financing costs, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.
HUBBELL INCORPORATED
Condensed Consolidated Statement of Income
(unaudited)
(in millions, except per share amounts)
Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net sales$ 1,711.8 $ 1,484.3 $ 3,228.5 $ 2,849.5 Cost of goods sold 1,098.8 932.2 2,110.2 1,854.8 Gross profit 613.0 552.1 1,118.3 994.7 Selling & administrative expenses 264.4 215.8 505.9 428.0 Operating income 348.6 336.3 612.4 566.7 Operating income as a % of Net sales 20.4 % 22.7 % 19.0 % 19.9 %Loss on disposition of business — (0.4 ) — (0.4 )Interest expense, net (39.1 ) (14.5 ) (61.1 ) (28.3 )Other expense, net (5.8 ) (6.2 ) (11.2 ) (11.5 )Total other expense, net (44.9 ) (21.1 ) (72.3 ) (40.2 )Income before income taxes 303.7 315.2 540.1 526.5 Provision for income taxes 61.5 69.7 114.9 116.5 Net income 242.2 245.5 425.2 410.0 Less: Net income attributable to noncontrolling interest (1.8 ) (1.3 ) (3.0 ) (2.6 )Net income attributable to Hubbell Incorporated$ 240.4 $ 244.2 $ 422.2 $ 407.4 Earnings Per Share: Basic earnings per share$ 4.54 $ 4.58 $ 7.96 $ 7.62 Diluted earnings per share $ 4.52 $ 4.56 $ 7.93 $ 7.58 HUBBELL INCORPORATED
Condensed Consolidated Balance Sheet
(unaudited)
(in millions)
June 30, 2026 December 31, 2025ASSETS Cash and cash equivalents$ 378.6 $ 482.5 Short-term investments 16.1 15.4 Accounts receivable (net of allowances of $17.0 and $13.9) 1,150.9 856.9 Inventories, net 1,267.5 1,083.8 Other current assets 197.2 155.4 TOTAL CURRENT ASSETS 3,010.3 2,594.0 Property, plant and equipment, net 902.4 841.2 Investments 103.7 98.4 Goodwill 4,354.1 3,060.8 Other intangible assets, net 3,189.9 1,394.3 Other long-term assets 285.8 240.1 TOTAL ASSETS$ 11,846.2 $ 8,228.8 LIABILITIES AND EQUITY Short-term debt$ 568.7 $ 289.1 Accounts payable 650.5 570.5 Accrued salaries, wages and employee benefits 117.1 115.4 Accrued insurance 84.9 83.0 Other accrued liabilities 449.3 450.7 TOTAL CURRENT LIABILITIES 1,870.5 1,508.7 Long-term debt 4,803.9 2,036.3 Deferred tax liabilities 816.0 420.1 Other non-current liabilities 432.8 405.8 TOTAL LIABILITIES 7,923.2 4,370.9 Hubbell Incorporated Shareholders' Equity 3,911.9 3,847.9 Noncontrolling interest 11.1 10.0 TOTAL EQUITY 3,923.0 3,857.9 TOTAL LIABILITIES AND EQUITY$ 11,846.2 $ 8,228.8 HUBBELL INCORPORATED
Condensed Consolidated Statement of Cash Flows
(unaudited)
(in millions)
Six Months Ended June 30, 2026 2025 Cash Flows From Operating Activities Net income attributable to Hubbell$ 422.2 $ 407.4 Depreciation and amortization 127.8 95.2 Deferred income taxes (8.9) (18.4)Stock-based compensation expense 21.9 20.7 Loss on disposition of business — 0.4 Loss (gain) on sale of assets 1.5 (1.3)Changes in assets and liabilities, net of acquisitions Accounts receivable, net (167.1) (140.4)Inventories, net (79.2) (15.1)Accounts payable 68.0 (11.9)Current liabilities (36.9) (21.9)Other assets and liabilities, net (18.4) (0.5)Contributions to defined benefit pension plans (1.4) (21.4)Other, net 6.9 5.2 Net cash provided by operating activities 336.4 298.0 Cash Flows From Investing Activities Capital expenditures (77.6) (65.9)Acquisition of businesses, net of cash acquired (3,005.7) (73.2)Proceeds from disposal of business, net of cash — 2.6 Purchases of available-for-sale investments (12.9) (15.5)Proceeds from sales of available-for-sale investments 8.3 5.4 Other, net 1.3 6.0 Net cash used in investing activities (3,086.6) (140.6)Cash Flows From Financing Activities Issuance of long-term debt 2,787.5 — Borrowing of short-term debt, net 279.6 277.7 Payment of dividends (150.4) (140.9)Debt issuance costs (19.9) — Repurchase of common shares (203.5) (225.0)Other, net (41.6) (29.3) Net cash provided (used in) by financing activities 2,651.7 (117.5)Effect of foreign exchange rate changes on cash and cash equivalents (1.2) 13.1 (Decrease) increase in cash, cash equivalents and restricted cash (99.7) 53.0 Cash and cash equivalents, beginning of year 482.5 329.1 Restricted cash, included in other assets, beginning of year 1.8 2.5 Less: Restricted cash, included in other assets 6.0 2.0 Cash and cash equivalents, end of quarter$ 378.6 $ 382.6 HUBBELL INCORPORATED
Earnings Per Share
(unaudited)
(in millions, except per share amounts)
Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Change 2026 2025 ChangeNet income attributable to Hubbell (GAAP measure)$ 240.4 $ 244.2 (2) % $ 422.2 $ 407.4 4 %Amortization of acquisition-related intangible assets 39.1 25.2 72.5 49.9 Transaction, integration & separation costs 28.0 0.7 31.5 1.1 Loss on disposition of business — 0.4 — 0.4 Subtotal$ 307.5 $ 270.5 $ 526.2 $ 458.8 Income tax effects 13.8 6.2 22.6 12.1 Adjusted net income$ 293.7 $ 264.3 11 % $ 503.6 $ 446.7 13 % Numerator: Net income attributable to Hubbell (GAAP measure)$ 240.4 $ 244.2 $ 422.2 $ 407.4 Less: Earnings allocated to participating securities (0.3) (0.4) (0.5) (0.7) Net income available to common shareholders (GAAP measure) [a]$ 240.1 $ 243.8 (2) % $ 421.7 $ 406.7 4 % Adjusted net income $ 293.7 $ 264.3 $ 503.6 $ 446.7 Less: Earnings allocated to participating securities (0.4) (0.5) (0.7) (0.8) Adjusted net income available to common shareholders [b]$ 293.3 $ 263.8 11 % $ 502.9 $ 445.9 13 % Denominator: Average number of common shares outstanding [c] 52.9 53.2 53.0 53.4 Potential dilutive shares 0.2 0.3 0.2 0.3 Average number of diluted shares outstanding [d] 53.1 53.5 53.2 53.7 Earnings per share (GAAP measure): Basic [a] / [c]$ 4.54 $ 4.58 $ 7.96 $ 7.62 Diluted [a] / [d]$ 4.52 $ 4.56 (1) % $ 7.93 $ 7.58 5 % Adjusted earnings per diluted share [b] / [d]$ 5.52 $ 4.93 12 % $ 9.45 $ 8.31 14 % HUBBELL INCORPORATED
Segment Information
(unaudited)
(in millions)
Three Months Ended June 30, 2026 2025 ChangeNet income$ 242.2 $ 245.5 (1) %Provision for income taxes 61.5 69.7 Interest expense, net 39.1 14.5 Other expense, net 5.8 6.2 Depreciation and amortization 67.6 48.3 Loss on disposition of business — 0.4 Subtotal 174.0 139.1 Adjusted EBITDA $ 416.2 $ 384.6 8 % Six Months Ended June 30, 2026 2025 ChangeNet income$ 425.2 $ 410.0 4 %Provision for income taxes 114.9 116.5 Interest expense, net 61.1 28.3 Other expense, net 11.2 11.5 Depreciation and amortization 127.8 95.2 Loss on disposition of business — 0.4 Subtotal 315.0 251.9 Adjusted EBITDA $ 740.2 $ 661.9 12 % HUBBELL INCORPORATED
Restructuring and Related Costs Included in Consolidated Results
(unaudited)
(in millions, except per share amounts)
Three Months Ended June 30, 2026 2025 2026 2025 2026 2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$ 1.5 $ 2.8 $ — $ — $ 1.5 $ 2.8 Restructuring related costs 0.8 1.2 1.7 (0.7) 2.5 0.5 Restructuring and related costs (non-GAAP measure) $ 2.3 $ 4.0 $ 1.7 $ (0.7) $ 4.0 $ 3.3 Six Months Ended June 30, 2026 2025 2026 2025 2026 2025 Costs of goods sold S&A expense TotalRestructuring costs (GAAP Measure)$ 6.1 $ 4.4 $ 0.7 $ 0.1 $ 6.8 $ 4.5 Restructuring related costs 1.9 2.5 1.9 (0.2) 3.8 2.3 Restructuring and related costs (non-GAAP measure) $ 8.0 $ 6.9 $ 2.6 $ (0.1) $ 10.6 $ 6.8 Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Restructuring and related costs included in Cost of goods sold (non-GAAP measure) Utility Solutions$ 0.2 $ 2.7 $ 0.9 $ 4.1 Electrical Solutions 2.1 1.3 7.1 2.8 Total$ 2.3 $ 4.0 $ 8.0 $ 6.9 Restructuring and related costs included in Selling & administrative expenses (non-GAAP measure) Utility Solutions$ — $ — $ — $ 0.1 Electrical Solutions 1.7 (0.7) 2.6 (0.2)Total$ 1.7 $ (0.7) $ 2.6 $ (0.1) Impact on Income before income taxes (non-GAAP measure)$ 4.0 $ 3.3 $ 10.6 $ 6.8 Impact on Net income available to Hubbell common shareholders (non-GAAP measure) 3.0 2.5 8.0 5.2 Impact on Diluted earnings per share (non-GAAP measure)$ 0.06 $ 0.05 $ 0.15 $ 0.10 HUBBELL INCORPORATED
Additional Non-GAAP Financial Measures
(unaudited)
(in millions)
Ratios of Total Debt to Total Capital and Net Debt to Total Capital
June 30, 2026 December 31, 2025Total Debt (GAAP measure)$ 5,372.6 $ 2,325.4 Total Hubbell Shareholders’ Equity 3,911.9 3,847.9 Total Capital$ 9,284.5 $ 6,173.3 Total Debt to Total Capital (GAAP measure) 58 % 38 %Less: Cash and Investments$ 498.4 $ 596.3 Net Debt (non-GAAP measure)$ 4,874.2 $ 1,729.1 Net Debt to Total Capital (non-GAAP measure) 52 % 28 % Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Flow Reconciliation
Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net cash provided by operating activities (GAAP measure)$ 249.8 $ 260.6 $ 336.4 $ 298.0 Less: Capital expenditures (37.0) (39.9) (77.6) (65.9)Free cash flow (non-GAAP measure)$ 212.8 $ 220.7 $ 258.8 $ 232.1
Hubbell (NYSE:HUBB – Get Free Report) is expected to release its Q2 2026 results before the market opens on Tuesday, July 28th. Analysts expect Hubbell to announce earnings of $5.39 per share and revenue of $1.6620 billion for the quarter. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Interested persons may review the information on the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Tuesday, July 28, 2026 at 10:00 AM ET.
Hubbell (NYSE:HUBB – Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.06. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 earnings per share. On average, analysts expect Hubbell to post $20 EPS for the current fiscal year and $22 EPS for the next fiscal year.
Hubbell Stock Performance Shares of NYSE HUBB opened at $485.33 on Friday. Hubbell has a 1 year low of $403.82 and a 1 year high of $565.50. The firm has a market cap of $25.64 billion, a P/E ratio of 28.67, a PEG ratio of 2.43 and a beta of 0.89. The stock has a fifty day moving average price of $488.26 and a two-hundred day moving average price of $496.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58.
Analyst Upgrades and Downgrades Several analysts have recently weighed in on the company. Barclays upped their price objective on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Stephens lifted their target price on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. UBS Group restated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company raised their price objective on shares of Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $554.38.
Check Out Our Latest Stock Analysis on Hubbell
Institutional Inflows and Outflows A number of institutional investors and hedge funds have recently bought and sold shares of HUBB. Pacer Advisors Inc. boosted its position in shares of Hubbell by 16.1% during the 4th quarter. Pacer Advisors Inc. now owns 5,001 shares of the industrial products company’s stock valued at $2,221,000 after acquiring an additional 695 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Hubbell by 16.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,668 shares of the industrial products company’s stock worth $741,000 after purchasing an additional 234 shares in the last quarter. Corient Private Wealth LLC raised its position in Hubbell by 10.2% in the fourth quarter. Corient Private Wealth LLC now owns 7,544 shares of the industrial products company’s stock worth $3,350,000 after purchasing an additional 697 shares in the last quarter. Alpine Woods Capital Investors LLC raised its position in Hubbell by 79.2% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 1,541 shares of the industrial products company’s stock worth $684,000 after purchasing an additional 681 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Hubbell by 173.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,051 shares of the industrial products company’s stock worth $6,684,000 after purchasing an additional 9,544 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.
About Hubbell (Get Free Report)
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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Shelton, CT, July 24, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Hubbell Incorporated (NYSE:HUBB) today declared a regular quarterly dividend of $1.42 per share on the Company's common stock. The dividend will be paid on September 15, 2026 to shareholders of record on August 31, 2026.
Hubbell (HUBB - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on July 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis electrical products manufacturer is expected to post quarterly earnings of $5.31 per share in its upcoming report, which represents a year-over-year change of +7.7%.
Revenues are expected to be $1.67 billion, up 12.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.61% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Hubbell?For Hubbell, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.62%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Hubbell will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Hubbell would post earnings of $3.87 per share when it actually produced earnings of $3.93, delivering a surprise of +1.55%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Hubbell appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
California Public Employees Retirement System lowered its holdings in shares of Hubbell Inc (NYSE:HUBB – Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 101,455 shares of the industrial products company’s stock after selling 1,697 shares during the period. California Public Employees Retirement System owned about 0.19% of Hubbell worth $49,788,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in HUBB. Wellington Management Group LLP grew its stake in shares of Hubbell by 140.4% during the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after buying an additional 1,468,701 shares during the last quarter. State Street Corp increased its holdings in shares of Hubbell by 1.8% in the fourth quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock worth $1,022,593,000 after buying an additional 40,623 shares during the period. Geode Capital Management LLC lifted its stake in shares of Hubbell by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock valued at $608,704,000 after acquiring an additional 10,898 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Hubbell by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,214,236 shares of the industrial products company’s stock valued at $539,257,000 after acquiring an additional 60,071 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Hubbell by 0.8% during the 4th quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company’s stock valued at $507,356,000 after acquiring an additional 9,202 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Analysts Set New Price Targets HUBB has been the topic of several recent research reports. Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group reissued a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Barclays raised their target price on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company lifted their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $554.38.
Get Our Latest Report on Hubbell
Hubbell Stock Down 0.7% HUBB stock opened at $485.43 on Tuesday. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The firm has a market cap of $25.65 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.46 and a beta of 0.89. The business has a 50 day moving average of $488.31 and a 200 day moving average of $496.00.
Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.87 by $0.06. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $3.50 EPS. Hubbell’s revenue for the quarter was up 11.1% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. On average, research analysts forecast that Hubbell Inc will post 19.86 EPS for the current fiscal year.
Hubbell Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 29th. Hubbell’s dividend payout ratio is 33.55%.
About Hubbell (Free Report)
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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Key Takeaways U.S. manufacturing rebounded in 2H as industrial production and factory output strengthened on AI demand. MSM, AIT, HUBB and TRMB are highlighted as stocks positioned to benefit from the manufacturing recovery. Easing inflation and potential Fed rate cuts could provide additional support for manufacturing activity. The U.S. manufacturing sector has been making a steady rebound despite inflationary pressures. Robust demand for manufactured goods has been giving the sector a boost after months of struggle.
This has primarily been a year of comeback for the manufacturing sector. After a solid first quarter, the sector showed signs of further growth in the second quarter.
Given the positive sentiment, it would be ideal to invest in four stocks from the manufacturing sector — MSC Industrial Direct Co., Inc. (MSM - Free Report) , Applied Industrial Technologies, Inc. (AIT - Free Report) , Hubbell Incorporated (HUBB - Free Report) and Trimble Inc. (TRMB - Free Report) — that we have detailed below.
Industrial Production GrowsU.S. industrial production grew 0.1% in June after rising at a similar pace in the previous month, the Federal Reserve reported on Friday. Year over year, industrial production increased 1.1% in June. Moreover, industrial production grew 4% in the second quarter.
Manufacturing output remained unchanged in June after increasing 0.1% in the previous month. Year over year, manufacturing output jumped 1.1% in June. In the second quarter, manufacturing output jumped a solid 4.7%, the fastest pace in five years.
The jump in the second quarter follows a 1.4% jump in the first quarter.
The solid performance by the sector comes as companies continue to spend heavily on AI, driving manufacturing activity. Production of computers and peripherals jumped a solid 9.2% in June from the year-ago levels and 7.2% in the second quarter.
Production of motor vehicles and parts rose 0.7% sequentially in June. Output of semiconductors and related electronic components climbed 0.5% month over month and 10.2% from the year-ago levels.
Mining production edged up 0.4% in June after increasing 1.1% in the prior month.
Big tech companies have been investing aggressively in AI, which has been boosting demand. This has been driving the domestic manufacturing output. The Federal Reserve has been contemplating raising interest rates after inflation jumped, following the U.S.-Iran war that broke out in late February.
However, inflation eased substantially in June after hostilities between the two warring nations came to a halt. The consumer price index (CPI) fell 0.4% sequentially in June, after increasing 0.5% in May. Year over year, CPI fell to 3.5% in June. The decline follows a reading of 4.2% in May. The monthly decline in CPI was the biggest since April 2020.
The Federal Reserve could not adopt a wait-and-watch policy and hold back its plans for rate cuts if inflation continues to ease in the near term. This could help the manufacturing sector and the broader economy.
4 Industrial Products Stocks With UpsideMSC Industrial DirectMSC Industrial Direct Co., Inc. is one of the premier distributors of Metalworking and maintenance, repair and operations (“MRO”) supplies to industrial customers throughout the United States. MSM distributes approximately 590,000 industrial products from approximately 3,000 suppliers to approximately 350,000 customers.
MSC Industrial Direct’s expected earnings growth for the current year is 18.9%. The Zacks Consensus Estimate for next year's earnings has improved 2.5% over the past 60 days. Currently, HLIO has a Zacks Rank #1.
Applied Industrial TechnologiesApplied Industrial Technologies, Inc. is a distributor of value-added industrial products — including engineered fluid power components, bearings, specialty flow control solutions, power transmission products and miscellaneous industrial supplies. AIT’s products are mainly sold to original equipment manufacturers and MRO customers in Australia, North America, Singapore and New Zealand.
Applied Industrial Technologies’ expected earnings growth for the current year is 5.8%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. AIT currently has a Zacks Rank #2.
Hubbell Incorporated Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. HUBB’s products include plugs, receptacles, connectors, lighting fixtures, high-voltage test and measurement equipment, and voice and data signal processing components.
Hubbell Incorporated’s expected earnings growth for the current year is 9.1%. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the past 60 days. HUBB currently carries a Zacks Rank #2.
TrimbleTrimble Inc. is a leading technology solutions provider that addresses the needs of building, civil and infrastructure construction, geospatial, survey and mapping, natural resources, utilities, transportation, and government end-markets. Asset owners, general and specialty contractors, engineers and designers, surveyors, energy and utility companies, trucking companies and drivers, as well as state, federal, and municipal governments are TRMB’s primary customers.
Trimble’s expected earnings growth for the current year is 12.6%. The Zacks Consensus Estimate for next year’s earnings has improved 0.3% over the past 60 days. TRMB has a Zacks Rank #2 at present.
Shelton, CT, July 13, 2026 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) today announced it will release its second quarter 2026 financial results prior to the opening of the market on July 28th, 2026. 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 and selecting "Investors" from the options at the bottom of the page and then "Press Releases" from the drop-down menu.
The live audio of the conference call and accompanying materials will also be available and can be accessed by visiting Hubbell's Events and Presentations section. You can also access this information by going to www.hubbell.com and selecting "Investors" from the options at the bottom of the page and then "Events/Presentations" from the drop-down menu.
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.
Should You Consider Hubbell?The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Hubbell (HUBB - Free Report) holds a #2 (Buy) at the moment and its Most Accurate Estimate comes in at $5.35 a share 25 days away from its upcoming earnings release on August 4, 2026.
By taking the percentage difference between the $5.35 Most Accurate Estimate and the $5.32 Zacks Consensus Estimate, Hubbell has an Earnings ESP of +0.62%. Investors should also know that HUBB is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
HUBB is one of just a large database of Industrial Products stocks with positive ESPs. Another solid-looking stock is RBC Bearings (RBC - Free Report) .
RBC Bearings, which is readying to report earnings on August 7, 2026, sits at a Zacks Rank #3 (Hold) right now. Its Most Accurate Estimate is currently $3.45 a share, and RBC is 28 days out from its next earnings report.
For RBC Bearings, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $3.39 is +1.77%.
Because both stocks hold a positive Earnings ESP, HUBB and RBC could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
Hubbell (HUBB - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Hubbell basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Hubbell imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for HubbellFor the fiscal year ending December 2026, this electrical products manufacturer is expected to earn $19.83 per share, which is unchanged compared with the year-ago reported number.
Analysts have been steadily raising their estimates for Hubbell. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.2%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Hubbell to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Hubbell (HUBB - Free Report) , which belongs to the Zacks Manufacturing - Electrical Utilities industry, could be a great candidate to consider.
When looking at the last two reports, this electrical products manufacturer has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 1.09%, on average, in the last two quarters.
For the most recent quarter, Hubbell was expected to post earnings of $3.87 per share, but it reported $3.93 per share instead, representing a surprise of 1.55%. For the previous quarter, the consensus estimate was $4.7 per share, while it actually produced $4.73 per share, a surprise of 0.64%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Hubbell. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Hubbell has an Earnings ESP of +0.62% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Hubbell Inc. earns a 'Buy' rating, positioned at the core of grid modernization and electrification, serving critical infrastructure needs for data centers and utilities. HUBB trades at a premium (~27.3x 2026 EPS), justified by robust secular demand, high margins (Utility Solutions: 24.1%, Electrical Solutions: 20.2%), and disciplined capital allocation. Secular tailwinds—data center growth, utility T&D spending, and grid bottlenecks—support high-single to low-double-digit EPS growth beyond 2026, with upside if grid interconnects accelerate.
Hubbell (HUBB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Board of Directors of Hubbell Incorporated (NYSE:HUBB) today declared a regular quarterly dividend of $1.42 per share on the Company's common stock. The dividend will be paid on June 15, 2026 to shareholders of record on May 29, 2026.
Four industrial stocks, Stanley Black, Illinois Tool, Parker-Hannifin and Hubbell. are poised to beat Q1 earnings, driven by strong end-market demand and pricing gains.
Get a deeper insight into the potential performance of Hubbell (HUBB) for the quarter ended March 2026 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.
Hubbell (HUBB) came out with quarterly earnings of $3.93 per share, beating the Zacks Consensus Estimate of $3.87 per share. This compares to earnings of $3.5 per share a year ago.
While the top- and bottom-line numbers for Hubbell (HUBB) give a sense of how the business performed in the quarter ended March 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Shelton, CT, May 04, 2026 (GLOBE NEWSWIRE) -- Hubbell to Acquire NSI Industries A leading manufacturer of electrical fittings, connectors, components and wire management products serving industrial, infrastructure and commercial end markets Complementary product offerings enhance Hubbell's Electrical Solutions portfolio Attractive financial profile expected to be accretive to Hubbell and HES adjusted operating margins and long-term organic growth $3.0 billion transaction to be financed with cash on hand and debt; purchase price represents ~15.5x anticipated 2026 EBITDA Anticipate adjusted EPS accretion in 2026 Hubbell Incorporated (NYSE: HUBB) today announced it has entered into a definitive agreement to acquire NSI Industries, a portfolio company of Sentinel Capital Partners and a leading provider of electrical fittings, connectors, components and wire management products, for $3.0 billion in cash, subject to customary adjustments. “We are excited to add a high growth business in NSI to Hubbell's Electrical Solutions portfolio,” said Gerben Bakker, Chairman, President and CEO.
Hubbell agreed to acquire NSI Industries for $3 billion, aiming to increase its offerings of critical infrastructure to its electrical and utility customers.
Transformation to a Pure-Play Electrical Platform Drives Value Creation NEW YORK, May 6, 2026 /PRNewswire/ -- Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced it has signed a definitive agreement to sell NSI Industries, a leading manufacturer and supplier of branded electrical products, to Hubbell Incorporated (NYSE: HUBB) for $3.0 billion. NSI is a category-leading provider of branded replenishment electrical power components serving industrial, infrastructure, and commercial end markets.
Hubbell shows strong operational momentum and continues to execute on accretive M&A, but valuation constrains my enthusiasm. Q1 results featured 8% organic revenue growth and improved margins, yet margin concerns and muted EPS guidance growth hit short-term sentiment. NSI Industries acquisition is highly synergistic, likely boosting EBITDA margins to 26%-27% over the next two to three years.
Shelton, CT, May 28, 2026 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) today announced that Gerben Bakker, Chairman and Chief Executive Officer, will appear at the Wells Fargo Industrials Conference. The event will be webcast and is scheduled to begin at 9:30AM CDT on Tuesday, June 9, 2026.
Shelton, CT, June 02, 2026 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) (“Hubbell” or the “Company”) today announced that it has successfully priced an offering (the “offering”) of an aggregate principal amount of $1.9 billion of senior notes, consisting of $500 million aggregate principal amount of 4.650% senior notes due 2031, $700 million aggregate principal amount of 4.900% senior notes due 2033 and $700 million aggregate principal amount of 5.150% senior notes due 2036 (collectively, the “notes”).
Value Creation Resulted from Pure-Play Transformation of the Business NEW YORK, June 9, 2026 /PRNewswire/ -- Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced the sale of NSI Industries, a leading manufacturer and supplier of branded electrical products, to Hubbell Incorporated (NYSE: HUBB) for $3.0 billion. Sentinel acquired NSI in November 2024.
Shelton, CT, June 09, 2026 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) (“Hubbell”) today announced that it has completed its acquisition of NSI Industries, a leading provider of electrical fittings, connectors, components and wire management products. Hubbell financed the acquisition and related transactions with net proceeds from borrowings under a new unsecured term loan facility in an aggregate principal amount of $900 million, the issuance of $1.9 billion aggregate principal amount of senior notes and issuances of commercial paper.
NSI Industries is a leading manufacturer and supplier of over 15,000 branded electrical products that are sold to over 2,000 distributors in North America. NSI Industries includes well-respected brands such as Bridgeport fittings, Polaris connectors and Tork timers. NSI Industries is headquartered in Huntersville, North Carolina.
About Hubbell
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.
Contact:
Dan InnamoratoHubbell Incorporated40 Waterview DriveP.O. Box 1000Shelton, CT 06484(475) 882-4000
