HUBBELL INC

Listed Company

HUBBCIK 0000048898NYSELarge AcceleratedElectronic Components & AccessoriesConnecticutFY ends Dec 31

Period

FY 2025

Revenue

$5.84B

Net Income

$887.10M

Total Assets

$8.23B

Equity

$3.85B

Shares Out

53.16M

Op. Cash Flow

$1.03B

Business

HUBBELL INC presents itself as a manufacturer of electrical and utility solutions that enable reliable operation of energy and critical infrastructure. It offers transmission, distribution, substation, telecommunications, meter and grid monitoring equipment, smart meters, protection and control devices, wiring and rough‑in products, connectors, grounding products, industrial controls, and other electrical equipment. The company operates through two reporting segments: Utility Solutions and Electrical Solutions. Its products are manufactured and sourced globally and distributed via distributors, direct utility sales, wholesalers, contractors, OEMs, retailers, home centers and online channels.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	5,845	5,629	5,373	4,948	4,194
Cost of goods sold	3,781	3,723	3,496	3,476	3,043
Gross profit	2,064	1,906	1,877	1,472	1,152
Selling & administrative expenses	855	813	850	763	619
Operating income	1,209	1,093	1,027	709	532
Loss on disposition of business (Note 3)	−400,000	−5	0	0	−7
Interest expense, net	−64	−74	−37	−50	—
Other expense, net	−25	−7	−19	5	5
Total other expense	−90	−86	−55	−52	−73
Income before income taxes	1,119	1,007	972	657	459
Provision for income taxes	227	222	215	140	88
Net income	892	785	758	—	—
Less: Net income attributable to noncontrolling interest	−5	−6	−6	−6	−6
Net income attributable to Hubbell Incorporated	887	779	751	546	400
Basic earnings per share (USD per share)	16.63	14.49	13.98	10.13	7.33
Diluted earnings per share (USD per share)	16.54	14.39	13.89	10.07	7.28

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	483	329	336	441	286
Short-term investments	15	16	13	14	9
Accounts receivable (net of allowances of $13.9 and $11.3)	857	756	785	742	675
Inventories, net	1,084	1,010	833	741	662
Other current assets	155	147	130	84	67
Total Current Assets	2,594	2,258	2,167	2,021	1,879
Property, Plant, and Equipment, net	841	727	653	528	460
Investments	98	85	76	66	69
Goodwill	3,061	2,501	2,533	1,971	1,871
Other intangible assets, net	1,394	1,080	1,196	670	682
Other long-term assets	240	198	197	147	144
TOTAL ASSETS	8,229	6,848	7,081	5,403	5,282
Short-term debt	289	125	117	5	10
Accounts payable	571	542	564	530	533
Accrued salaries, wages and employee benefits	115	146	174	144	95
Accrued insurance	83	89	79	76	73
Other accrued liabilities	451	372	365	334	263
Total Current Liabilities	1,509	1,274	1,323	1,089	1,065
Long-term Debt	2,036	1,443	2,023	1,438	1,436
Other Non-Current Liabilities	826	720	661	506	521
TOTAL LIABILITIES	4,371	3,437	4,025	3,032	3,041
Commitments and Contingencies (see Note 15)	—	—	—	—	—
Common stock - Authorized 200,000,000 shares, outstanding 53,253,805 and 53,759,976 shares	600,000	600,000	600,000	600,000	600,000
Additional paid-in capital	6	3	6	0	0
Retained earnings	4,156	3,780	3,183	2,706	2,560
Accumulated other comprehensive loss	−315	−387	−312	−345	−331
Total Hubbell Incorporated Shareholders Equity	3,848	3,396	2,877	2,361	2,230
Noncontrolling interest	10	14	12	10	11
TOTAL EQUITY	3,858	3,411	2,889	2,371	2,241
TOTAL LIABILITIES AND EQUITY	8,229	6,848	6,914	5,403	5,282

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	206	212	150	149	149
Deferred income taxes	11	2	−19	−28	9
Stock-based compensation	33	31	27	25	18
Loss on sale of assets	1	1	3	4	−5
(Increase) decrease in accounts receivable	−68	22	−2	−67	−125
Increase in inventories	−32	−24	−31	−67	−139
Increase (decrease) in accounts payable	6	−14	13	−15	195
Increase (decrease) in current liabilities	33	−24	−5	108	28
Changes in other assets and liabilities, net	5	15	2	13	−15
Contributions to qualified defined benefit pension plans	−41	−1	−20	−13	−100,000
Other, net	−16	−18	5	3	3
Net cash provided by operating activities	1,030	991	881	—	—
Capital expenditures	−155	−180	−166	−129	−90
Acquisitions, net of cash acquired	−958	6	−1,212	−177	100,000
Proceeds from disposal of business, net of cash	3	123	0	333	9
Purchases of available-for-sale investments	−25	−21	−25	−34	−11
Proceeds from sales of available-for-sale investments	17	16	22	23	12
Other, net	25	−2	800,000	2	9
NET CASH USED IN INVESTING ACTIVITIES	−1,095	−59	−1,380	—	—
Issuance of long-term debt	1,000	0	600	0	299
Payment of long-term debt	−400	−600	0	—	—
Issuance of short-term debt	164	23	100	0	8
Payment of short-term debt	−300,000	0	−2	−5	−152
Payment of dividends	−287	−267	−246	−230	−217
Debt issuance cost	−9	0	−2	0	−5
Acquisition of common shares	−225	−40	−30	−182	−11
Other	−39	−39	−32	−21	−40
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	204	−923	389	−437	−433
Effect of foreign currency exchange rate changes on cash and cash equivalents	14	−16	7	−9	−3
Increase (decrease) in cash, cash equivalents, and restricted cash	153	−8	−104	154	30

Filings

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