Hubbell Inc · NYSE:HUBB
Hubbell — Q2 2025 Earnings Presentation
17 slides from Hubbell's earnings presentation, Jul 29, 2025
Slide 1: Second Quarter 2025 Earnings Call
Second Quarter 2025 Earnings Call July 29, 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: Key Messages
Key Messages 1 Double digit adjusted EPS growth in 2Q; raising 2025 outlook 2 Grid Infrastructure 2Q organic growth +7%; YTD orders up high teens 3 Datacenter markets drove strong Electrical Solutions performance 4 Price and productivity actions implemented to offset cost inflation 3
Slide 4: Transition to FIFO-Based Inventory Accounting
Transition to FIFO-Based Inventory Accounting FIFO RATIONALE FINANCIAL IMPLICATIONS Conforms inventory accounting to a single method Recast segment results and adjusted EPS impacts included in Appendix materials Better matching of expenses and revenue recognition FIFO transition resulted in
Slide 5: 2Q 2025 Results
2Q 2025 Results NET SALES ADJ. OPERATING PROFIT ADJ. DILUTED EPS FREE CASH FLOW $ millions $ millions $ per share $ millions +2% +8% +11% +7% 1,484 362 221 1,453 $4.93 206 337 24.4% $4.44 23.2% 2Q 2024 2Q 2025 2Q 2024 2Q 2025 2Q 2024 2Q 2025 2Q 2024 2Q 2025 Organic +2% Up 120bps y/y Up Double Digits
Slide 6: 2Q 2025 Hubbell Utility Solutions (HUS) Segment Results
2Q 2025 Hubbell Utility Solutions (HUS) Segment Results HUS NET SALES HUS ADJUSTED OPERATING PROFIT $ millions $ millions +1% +7% 927 936 239 223 25.5% Organic +1% 24.1% 2Q 2024 2Q 2025 2Q 2024 2Q 2025 HIGHLIGHTS AND KEY PERFORMANCE DRIVERS Grid Infrastructure sales $699M (+7% organic) Continued s
Slide 7: 2Q 2025 Hubbell Electrical Solutions (HES) Segment Results
2Q 2025 Hubbell Electrical Solutions (HES) Segment Results HES NET SALES HES ADJUSTED OPERATING PROFIT $ millions $ millions +4% +9% 549 124 526 113 Organic +4% 22.5% M&A +1% 21.5% 2Q 2024 2Q 2025 2Q 2024 2Q 2025 HIGHLIGHTS AND KEY PERFORMANCE DRIVERS Datacenter sales up significantly Light indu
Slide 8: Anticipate 2025 Organic Growth of +4-6%
Anticipate 2025 Organic Growth of +4-6% UTILITY SOLUTIONS ELECTRICAL SOLUTIONS Distribution/telcom growth inflecting Growth driven by visible strength in datacenter markets Well positioned in robust transmission/substation markets T&D and light industrial markets solid; non-res and heavy ind
Slide 9: Raising 2025 Adjusted EPS Outlook Range
Raising 2025 Adjusted EPS Outlook Range Updated +4-6% $17.65-$18.15 ~90% 2025 Outlook Organic Growth Adjusted Diluted EPS Free Cash Flow conversion on adj. income 2025 ADJUSTED EPS BRIDGE MODELING CONSIDERATIONS ~$60M net Similar y/y R&R interest expense Price realization investment FIFO transitio
Slide 10: APPENDIX
APPENDIX
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 to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended June 30, Six Months Ended June 30, 2025 2024 Change 2025 2024 Change Net income attributable to Hubbell (GAAP measure) $ 244.2 $ 217.5 12 % $ 407.4 $ 354.6
Slide 13: APPENDIX
APPENDIX Reconciliation of Adjusted Operating Margin to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended June 30, Six Months Ended June 30, 2025 2024 Change 2025 2024 Change Net Sales [a] $ 1,484.3 $ 1,452.5 2% $ 2,849.5 $ 2,851.6 —% Operating Income GAAP
Slide 14: APPENDIX
APPENDIX Reconciliation of Organic Net Sales Growth to Net Sales Growth (millions and percentage change): Hubbell Incorporated Three Months Ended June 30, Six Months Ended June 30, 2025 Inc/(Dec)% 2024 Inc/(Dec)% 2025 Inc/(Dec)% 2024 Inc/(Dec)% Net sales growth (decline) (GAAP measure) $ 31.8 2.2 $
Slide 15: APPENDIX
APPENDIX Reconciliation of Net Debt to the most directly comparable GAAP measure (millions): Hubbell Incorporated June 30, 2025 December 31, 2024 Total Debt (GAAP measure) $ 1,847.1 $ 1,568.1 Total Hubbell Shareholders’ Equity 3,487.7 3,396.2 Total Capital $ 5,334.8 $ 4,964.3 Total Debt to Total Cap
Slide 16: APPENDIX
APPENDIX Reconciliation of Adjusted Net Income to the most directly comparable GAAP measure (millions): Three Twelve Three Months Months Months Hubbell Incorporated Ended Ended Ended March 31, June 30, September December December March 31, 2024 2024 30, 2024 31, 2024 31, 2024 2025 Net income attribu
Slide 17: APPENDIX
APPENDIX Reconciliation of Adjusted Operating Margin to the most directly comparable GAAP measure (millions): Twelve Three Hubbell Incorporated Three Months Ended Months Ended Months Ended March June September December December March 31, 2024 30, 2024 30, 2024 31, 2024 31, 2024 31, 2025 Net Sales [a