Hubbell Inc · NYSE:HUBB
Hubbell — Q4 2024 Earnings Presentation
15 slides from Hubbell's earnings presentation, Feb 4, 2025
Slide 1: Fourth Quarter 2024 Earnings Call
Fourth Quarter 2024 Earnings Call February 4, 2025
Slide 2: Forward Looking Statements and Non-GAAP Measures
Forward Looking Statements and Non-GAAP Measures 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 rega
Slide 3: Full Year 2024 Accomplishments
Full Year 2024 Accomplishments Delivered 2024 results above high end of outlook range 1 +5% net Sales; +9% adj. OP; +90bps adj. OP margin; +8% adj. EPS; +13% Free Cash Flow Strong progress on HES segment unification 2 +240bps adj. OP margin expansion & double digit adj. OP growth in FY24 – despi
Slide 4: 4Q 2024 Results
4Q 2024 Results NET SALES ADJ. OPERATING PROFIT ADJUSTED EPS FREE CASH FLOW $ millions $ millions $ millions -1% +11% +11% +28% 1,346 1,334 291 $4.10 364 262 21.8% $3.69 284 19.4% 4Q 2023 4Q 2024 4Q 2023 4Q 2024 4Q 2023 4Q 2024 4Q 2023 4Q 2024 Organic -3% +240bps expansion Double Digit growth FY24 F
Slide 5: 4Q 2024 Hubbell Utility Solutions (HUS) Segment Results
4Q 2024 Hubbell Utility Solutions (HUS) Segment Results HUS NET SALES HUS ADJUSTED OPERATING PROFIT $ millions $ millions +4% +12% 847 194 811 174 22.9% Organic -5% Acquisitions +9% 21.4% 4Q 2023 4Q 2024 4Q 2023 4Q 2024 HIGHLIGHTS AND KEY PERFORMANCE DRIVERS Grid Infrastructure +12% (-1% organic)
Slide 6: FY 2024 HUS Performance and 2025 Setup and Expectations
FY 2024 HUS Performance HUS FULL YEAR 2024 NET SALES BRIDGE 3,601 Grid Grid Automation Infrastructure Strong 1Q / weak 4Q growth in meters & AMI Temporary telcom Strong growth in market challenges transmission/substation Strong growth in grid +10% FY 2024 Customer inventory Customer inventory protec
Slide 7: 4Q 2024 Hubbell Electrical Solutions (HES) Segment Results
4Q 2024 Hubbell Electrical Solutions (HES) Segment Results HES NET SALES HES ADJUSTED OPERATING PROFIT $ millions $ millions +10% -9% 534 97 487 88 20.0% Organic -1% 16.5% Divestiture -8% 4Q 2023 4Q 2024 4Q 2023 4Q 2024 HIGHLIGHTS AND KEY PERFORMANCE DRIVERS Challenging prior year comparison at PC
Slide 8: 2025 Organic Growth Outlook
2025 Organic Growth Outlook UTILITY SOLUTIONS ELECTRICAL SOLUTIONS Anticipate return to market growth levels in electric distribution Datacenter growth strong Pipeline supports continued transmission/substation strength Renewables and electric T&D positioned for solid growth Protection & c
Slide 9: 2025 Outlook
2025 Outlook Initiating +4-5% $17.35-$17.85 >90% 2025 Outlook Organic Growth Adjusted EPS Free Cash Flow conversion on adj. income 2025 ADJUSTED EPS BRIDGE 2025 MODELING CONSIDERATIONS Flat y/y R&R Favorable price investment Growth and productivity realization Footprint initiatives ~$60M net $17.35
Slide 10: APPENDIX
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Slide 11: APPENDIX
APPENDIX References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management believes Free cash flow is a non-GAAP measure that we believe provides useful information regarding the Company's ability to these adjusted operating measures provide useful informat
Slide 12: APPENDIX
APPENDIX Reconciliation of Adjusted Net Income From Continuing Operations to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 Change 2024 2023 Change Net income attributable to Hubbell (GAAP measure)
Slide 13: APPENDIX
APPENDIX Reconciliation of Adjusted Operating Margin to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 Change 2024 2023 Change Net Sales [a] $ 1,334.3 $ 1,345.8 (1)% $ 5,628.5 $ 5,372.9 5% Operatin
Slide 14: APPENDIX
APPENDIX Reconciliation of Organic Net Sales Growth to Net Sales Growth (millions and percentage): Hubbell Incorporated Three Months Ended December 31, Twelve Months Ended December 31, 2024 Inc/(Dec)% 2023 Inc/(Dec)% 2024 Inc/(Dec)% 2023 Inc/(Dec)% Net sales (decline) growth (GAAP measure) $ (11.5)
Slide 15: APPENDIX
APPENDIX Reconciliation of Free Cash Flow to the most directly comparable GAAP measure (millions): Three Months Ended December Twelve Months Ended 31, December 31, 2024 2023 2024 2023 Net cash provided by operating activities (GAAP measure) $ 432.4 $ 345.5 $ 991.2 $ 880.8 Less: Capital expenditures