HUBBELL REPORTS THIRD QUARTER 2026 RESULTS
HUBBELL INC (HUBB) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Date: October 27, 2026 NEWS RELEASE Hubbell Incorporated 40 Waterview Drive Shelton, CT 06484 475-882-4000 HUBBELL REPORTS THIRD QUARTER 2026 RESULTS • Q3 diluted EPS of $4.94; adjusted diluted EPS of $5.91 (up 14% y/y) • Q3 net sales +25% (organ ic +11% ; M&A +13 %)
How this was made
The 30-second read
Why it matters
The earnings beat and raised guidance provide fresh material for traders to consider positioning ahead of the earnings call.
Market read
The earnings release and raised FY outlook are primary drivers for immediate market reaction.
What to watch
Potential cost‑inflation pressures and raw‑material price volatility could temper margin expansion.
Hubbell reports third quarter 2026 results with net sales up 25%, adjusted diluted EPS up 14%, and raised full-year adjusted EPS outlook.
Third-quarter net sales grew 25%, including 11.3% organic growth, adjusted operating income grew 33%, adjusted diluted EPS grew 14%, and free cash flow rose to $280.4 million. The company raised its full-year adjusted diluted EPS outlook to $20.40 to $20.60.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 net salesGAAP | $1.87B | – | 25 % |
| Q3 2026 organic net sales growthnon-GAAP | $ 169.3 million; 11.3 % | – | – |
| Q3 2026 impact of acquisitions on net salesother | $ 198.8 million; 13.2 % | – | – |
| Q3 2026 foreign currency exchange impact on net salesother | $ 2.0 million; 0.1 % | – | – |
| Q3 2026 cost of goods soldGAAP | $1.18B | – | – |
| Q3 2026 gross profitGAAP | $688.2M | – | – |
| Q3 2026 selling & administrative expensesGAAP | $279.5M | – | – |
| Q3 2026 operating incomeGAAP | $408.7M | – | 24 % |
| Q3 2026 operating marginGAAP | 21.8 % | – | -20 bps |
| Q3 2026 adjusted operating incomenon-GAAP | $476.8M | – | 33 % |
| Q3 2026 adjusted operating marginnon-GAAP | 25.5 % | – | +160 bps |
| Q3 2026 interest expense, netGAAP | $58M | – | – |
| Q3 2026 other expense, netGAAP | $5.4M | – | – |
| Q3 2026 income before income taxesGAAP | $345.3M | – | – |
| Q3 2026 provision for income taxesGAAP | $80.7M | – | – |
| Q3 2026 net incomeGAAP | $264.6M | – | – |
| Q3 2026 net income attributable to Hubbell IncorporatedGAAP | $262.5M | – | 3 % |
| Q3 2026 adjusted net incomenon-GAAP | $314.3M | – | 14 % |
| Q3 2026 basic earnings per shareGAAP | $ 4.96 | – | – |
| Q3 2026 diluted earnings per shareGAAP | $ 4.94 | – | 4 % |
| Q3 2026 adjusted earnings per diluted sharenon-GAAP | $ 5.91 | – | 14 % |
| Q3 2026 adjusted EBITDAnon-GAAP | $506.9M | – | 32 % |
| Q3 2026 net cash provided by operating activitiesGAAP | $322.6M | – | – |
| Q3 2026 capital expendituresGAAP | $42.2M | – | – |
| Q3 2026 free cash flownon-GAAP | $280.4M | – | – |
| Nine months 2026 net salesGAAP | $5.10B | – | 17 % |
| Nine months 2026 organic net sales growthnon-GAAP | $ 432.7 million; 9.9 % | – | – |
| Nine months 2026 operating incomeGAAP | $1.02B | – | 14 % |
| Nine months 2026 operating marginGAAP | 20.0 % | – | -60 bps |
| Nine months 2026 adjusted operating incomenon-GAAP | $1.19B | – | 22 % |
| Nine months 2026 adjusted operating marginnon-GAAP | 23.3 % | – | +90 bps |
| Nine months 2026 net income attributable to Hubbell IncorporatedGAAP | $684.7M | – | 3 % |
| Nine months 2026 diluted earnings per shareGAAP | $ 12.86 | – | 4 % |
| Nine months 2026 adjusted earnings per diluted sharenon-GAAP | $ 15.37 | – | 14 % |
| Nine months 2026 adjusted EBITDAnon-GAAP | $1.27B | – | 22 % |
| Nine months 2026 net cash provided by operating activitiesGAAP | $659M | – | – |
| Nine months 2026 free cash flownon-GAAP | $539.2M | – | – |
| September 30, 2026 total debtGAAP | $5.12B | – | – |
| September 30, 2026 net debtnon-GAAP | $4.66B | – | – |
| September 30, 2026 total debt to total capitalGAAP | 55 % | – | – |
| September 30, 2026 net debt to total capitalnon-GAAP | 51 % | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Utility Solutions Q3 2026Organic net sales growth was 4.9%. Grid Infrastructure net sales increased approximately 13% and Grid Automation net sales decreased approximately 4%. Volume growth, acquisitions, favorable price realization, productivity and a net tariff benefit were partly offset by higher cost inflation and raw material costs. | $1.03B | – | 9 % |
| Electrical Solutions Q3 2026Organic net sales growth was 22.0%; acquisitions contributed 29.1%. Growth was led by strong datacenter markets and bolstered by content gains and capacity expansion investments. | $844.7M | – | 51 % |
| Utility Solutions nine months 2026Organic net sales growth was 5.7%. | $3.00B | – | 10 % |
| Electrical Solutions nine months 2026Organic net sales growth was 17.2%; acquisitions contributed 12.3%. | $2.10B | – | 30 % |
Full year 2026 outlook
- Revenuetotal sales growth of 18-19%, including organic sales growth of 10-11%
- Tax rateadjusted tax rate of 22.0% to 22.5%
- NoteGAAP diluted earnings per share in the range of $17.30 to $17.50
- Noteadjusted diluted earnings per share in the range of $20.40 to $20.60
- NoteAdjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share
- NoteAdjusted EPS excludes transaction, integration, and separation costs, which the Company expects to be approximately $0.60 per share
- Noteinclude approximately $20 million of anticipated restructuring and related investment
- Notefull year 2026 free cash flow conversion of approximately 90% on adjusted net income
Capital returns
- Nine months ended September 30, 2026 payment of dividends: $ 225.4 million; 2025: $ 211.1 million.
- Nine months ended September 30, 2026 repurchase of common shares: $ 203.5 million; 2025: $ 225.0 million.
What drove it
- Company net sales increased 25%, with 11.3% organic net sales growth, a 13.2% acquisition contribution, and a 0.1% foreign currency exchange contribution.
- Electrical Solutions generated 22.0% organic net sales growth, led by strong datacenter markets, content gains and capacity expansion investments.
- Utility Solutions generated 4.9% organic net sales growth, led by distribution, transmission and substation markets.
- Adjusted operating margin expanded 160 bps to 25.5%, while management cited volume growth, acquisitions, favorable price realization, productivity and a net tariff benefit.
- Orders and end market demand remained strong, driving continued backlog build in the quarter.
Concerns
- GAAP operating margin was 21.8%, down 20 bps year over year, despite adjusted operating margin expansion.
- Q3 interest expense, net was $ 58.0 million, compared with $ 13.6 million in the prior-year period.
- Total debt was $ 5,120.2 million and net debt was $ 4,664.7 million as of September 30, 2026, compared with $ 2,325.4 million and $ 1,729.1 million, respectively, at December 31, 2025.
- Electrical Solutions GAAP operating margin was 19.8%, down 10 bps year over year; the company cited higher cost inflation and raw material costs as partial offsets to operating-income gains.
- The company identified continued softness in the heavy industrial and residential markets of Electrical Solutions among its forward-looking risks.
What to watch
- Execution against full-year total sales growth guidance of 18-19% and organic sales growth guidance of 10-11%.
- Electrical Solutions datacenter demand, content gains, capacity expansion investments, and contribution from acquisitions.
- Utility Solutions demand across distribution, transmission and substation markets, together with backlog development.
- The effect of tariffs, anticipated additional IEEPA tariff refunds, price realization, cost inflation and raw material costs on margins.
- Acquisition integration and the associated amortization, transaction, integration and separation costs.
- Free cash flow conversion of approximately 90% on adjusted net income and leverage following $ 3,005.7 million of acquisitions, net of cash acquired.
Balance sheet and cash flow
- Cash and cash equivalents as of September 30, 2026: $ 334.5 million; December 31, 2025: $ 482.5 million.
- Short-term investments as of September 30, 2026: $ 20.5 million; December 31, 2025: $ 15.4 million.
- Total assets as of September 30, 2026: $ 11,898.3 million; December 31, 2025: $ 8,228.8 million.
- Short-term debt and current portion of long-term debt as of September 30, 2026: $ 613.8 million; December 31, 2025: $ 289.1 million.
- Long-term debt as of September 30, 2026: $ 4,506.4 million; December 31, 2025: $ 2,036.3 million.
- Nine months ended September 30, 2026 capital expenditures: $ 119.8 million; 2025: $ 96.4 million.
- Nine months ended September 30, 2026 acquisition of businesses, net of cash acquired: $ 3,005.7 million; 2025: $ 129.1 million.
- Nine months ended September 30, 2026 issuance of long-term debt: $ 2,787.5 million.
- Nine months ended September 30, 2026 net cash used in investing activities: $ 3,119.8 million; 2025: $ 215.4 million.
- Nine months ended September 30, 2026 net cash provided by financing activities: $ 2,319.1 million; 2025 net cash used in financing activities: $ 42.6 million.
Analysis
Hubbell delivered a strong third quarter. Net sales were $ 1,872.5 million, up 25%, with organic net sales growth of 11.3% and acquisitions contributing 13.2%. Adjusted operating income increased 33% to $ 476.8 million, adjusted operating margin expanded 160 bps to 25.5%, and adjusted diluted EPS increased 14% to $ 5.91. GAAP diluted EPS was $ 4.94, up 4%, with the difference reflecting acquisition-related intangible amortization and transaction, integration and separation costs.
Electrical Solutions was the principal growth engine. Segment sales increased 51% to $ 844.7 million, including 22.0% organic growth and a 29.1% contribution from acquisitions. Management attributed the organic performance to datacenter markets, content gains and capacity expansion investments. Utility Solutions sales rose 9% to $ 1,027.8 million, with 4.9% organic growth led by distribution, transmission and substation markets. Management also reported strong orders and end-market demand, resulting in continued backlog build.
Margin performance showed a distinction between GAAP and adjusted results. Consolidated GAAP operating margin declined 20 bps to 21.8%, while adjusted operating margin rose 160 bps to 25.5%. Electrical Solutions GAAP operating margin declined 10 bps to 19.8%, whereas adjusted operating margin increased 400 bps to 24.8%. The company cited volume growth, acquisition effects, favorable price realization, productivity and a net tariff benefit, partly offset by higher cost inflation and raw material costs.
Cash generation improved, with Q3 operating cash flow of $ 322.6 million and free cash flow of $ 280.4 million, versus $ 284.3 million and $ 253.8 million in the prior-year period. Over the first nine months, the company deployed $ 3,005.7 million for acquisitions, net of cash acquired, financed in part by $ 2,787.5 million of long-term debt issuance. Total debt reached $ 5,120.2 million and net debt reached $ 4,664.7 million at September 30, 2026.
The company raised its full-year outlook, now anticipating total sales growth of 18-19%, organic sales growth of 10-11%, GAAP diluted EPS of $17.30 to $17.50, and adjusted diluted EPS of $20.40 to $20.60. Management said the increase is primarily driven by stronger anticipated Electrical Solutions growth. The outlook also calls for approximately 90% free cash flow conversion on adjusted net income, an adjusted tax rate of 22.0% to 22.5%, and approximately $20 million of anticipated restructuring and related investment.
Management, verbatim
Hubbell delivered strong financial performance in the third quarter, with double digit growth in organic sales, adjusted operating profit, adjusted earnings per share and free cash flow
Gerben Bakker, Chairman, President and CEO
Third quarter results were highlighted by >20% organic growth in Electrical Solutions, led by strong datacenter markets and bolstered by content gains and capacity expansion investments. NSI results were strong in the quarter, and performance and integration efforts are trending ahead of our initial expectations. Utility Solutions delivered solid organic growth in the quarter, led by distribution, transmission and substation markets. Orders and end market demand remained strong, driving continued backlog build in the quarter, and we remain focused on proactively investing in capacity expansion to serve our customers in high growth areas.
Gerben Bakker, Chairman, President and CEO
We are raising our full year 2026 outlook, primarily driven by stronger anticipated Electrical Solutions growth.
Gerben Bakker, Chairman, President and CEO
Not in the filing
stated, not guessed- Prior-quarter comparisons for reported Q3 and nine-month metrics were not provided.
- Q3 and nine-month gross margin were not reported as separate line items.
- Full-year 2026 gross-margin guidance and operating-expense guidance were not provided.
- A prior earnings-release outlook was not provided, so comparison of actual results with prior guidance is unavailable.
- Quarterly capital returns were not separately reported.
- Cash and debt balances for the prior-year quarter-end were not provided.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Hubbell Inc. (NYSE:HUBB) filed an 8‑K reporting its third‑quarter 2026 financial results and updated FY guidance.
Ticker impact
Hubbell reported Q3 2026 results with EPS of $4.94 and raised full‑year 2026 outlook to $17.30‑$17.50 EPS.
likely upside as market prices in the raised outlook
The 14% YoY EPS increase and higher FY EPS range indicate improved profitability, prompting investors to bid the stock.
Market effects
Strong electrical‑solutions growth may boost related industrial and utility equipment suppliers.
Positive for U.S. industrial sector investors.
Limited to U.S. and global industrial equipment markets.
Counterpoint
If the raised outlook is already priced in, the stock could face a short‑term pullback.
Key entities
- ExecutiveGerben Bakker
Chairman, President and CEO of Hubbell who announced the raised outlook.
