Earnings Per Share
 
The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.
 
The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):
 202520242023
Numerator:   
Net income attributable to Hubbell Incorporated$887.1 $779.0 $751.4 
Less: Earnings allocated to participating securities(1.5)(1.5)(1.8)
Net income available to common shareholders$885.6 $777.5 $749.6 
Denominator:
Average number of common shares outstanding53.2 53.7 53.6 
Potential dilutive common shares0.3 0.3 0.4 
Average number of diluted shares outstanding53.5 54.0 54.0 
Earnings per share:
Basic earnings per share$16.63 $14.49 $13.98 
Diluted earnings per share$16.54 $14.39 $13.89 
 
The Company did not have any material anti-dilutive securities in 2025, 2024 or 2023.

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 13, 2025
2023Feb 8, 2024
2022Feb 9, 2023
2021Feb 11, 2022
2020Feb 11, 2021
2019Feb 14, 2020
2018Feb 15, 2019
2017Feb 15, 2018
2016Feb 16, 2017
2015Feb 18, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.