Hubbell Inc

HUBB

Equity

ISIN US4435106079 / Valor 30890825

New York Stock Exchange, Inc (2024-11-20)

USD 445.58-1.50%

Hubbell Inc
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About company

Hubbell Incorporated, with a history stretching back to the late 19th century, has established itself as a key player in the development and manufacturing of electrical and electronic products for a wide range of applications. Founded during the industrial revolution by Harvey Hubbell, the company initially focused on tooling and equipment to meet the burgeoning demand for assembly and manufacturing machinery. The advent of commercial electric power and the invention of the light bulb opened new avenues for innovation, leading to Hubbell's early patents for the “pull chain lamp socket” and “separable plug and receptacle.” Today, Hubbell continues to prioritize growth and innovation, producing high-quality, dependable products for businesses, manufacturers, utilities, and homeowners. The company operates with a strong support system, including knowledgeable customer care teams and a network of distributors and retailers. These partnerships are crucial for delivering Hubbell's products to the market, ensuring sales support, local inventory, and expertise for the end consumer. This collaborative approach has been instrumental in supporting Hubbell's sustained growth and its ability to meet the evolving needs of its customer base.

Summarized from source with an LLMView SourceSector: Technology

Second Quarter Earnings

Hubbell Inc. reported its second quarter 2024 financial results, revealing a diluted EPS of $3.94 and an adjusted diluted EPS of $4.37. This indicates a strong performance for the quarter.

Net Sales Growth

For the second quarter of 2024, Hubbell Inc. achieved a 6% increase in net sales. This growth was driven by a 2% organic increase and a 5% boost from net mergers and acquisitions.

Operating Margins

Hubbell Inc. reported an operating margin of 20.7% for the second quarter of 2024. The adjusted operating margin stood at 22.8%, reflecting a 40 basis points year-over-year improvement.

Dividend Declaration

On July 26, 2024, Hubbell Inc.'s Board of Directors declared a regular quarterly dividend of $1.22 per share. This dividend will be paid on September 16, 2024, to shareholders of record as of August 30, 2024.

Full-Year Outlook

Hubbell Inc. has raised its full-year 2024 outlook following the strong second quarter results. The company anticipates continued growth and improved financial performance for the remainder of the year.

Summarized from source with an LLMView Source

Key figures

48.2%1Y

112%3Y

205%5Y

Performance

28.8%1Y

28.7%3Y

31.8%5Y

Volatility