Slide 1: Third Quarter 2024 Earnings Call
Third Quarter 2024 Earnings Call October 29, 2024
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 HES vertical market momentum and operational execution 2 Utility T&D end market demand strong 3 Strong operating margin expansion 4 Raising 2024 outlook; well positioned for 2025+ 3
Slide 4: 3Q 2024 Results
3Q 2024 Results NET SALES ADJ. OPERATING PROFIT ADJUSTED EPS FREE CASH FLOW $ millions $ millions $ millions +5% +14% +14% +19% 1,443 335 $4.49 189 1,376 295 159 23.2% $3.95 21.4% 3Q 2023 3Q 2024 3Q 2023 3Q 2024 3Q 2023 3Q 2024 3Q 2023 3Q 2024 Organic -1% +180bps expansion Double Digit growth ~$800M
Slide 5: 3Q 2024 Hubbell Utility Solutions (HUS) Segment Results
3Q 2024 Hubbell Utility Solutions (HUS) Segment Results HUS NET SALES HUS ADJUSTED OPERATING PROFIT $ millions $ millions +11% +18% 933 236 838 201 25.3% Organic -4% Acquisitions +15% 24.0% 3Q 2023 3Q 2024 3Q 2023 3Q 2024 HIGHLIGHTS AND KEY PERFORMANCE DRIVERS Grid Infrastructure +15%; Grid Automati
Slide 6: 3Q 2024 Hubbell Electrical Solutions (HES) Segment Results
3Q 2024 Hubbell Electrical Solutions (HES) Segment Results HES NET SALES HES ADJUSTED OPERATING PROFIT $ millions $ millions -5% +5% 538 99 94 510 19.4% Organic +3% 17.5% Divestiture -8% 3Q 2023 3Q 2024 3Q 2023 3Q 2024 HIGHLIGHTS AND KEY PERFORMANCE DRIVERS Strength in datacenter and renewables ve
Slide 7: Raising 2024 Outlook
Raising 2024 Outlook ~6% >21.6% $16.35 to $16.55 ~$800M Total Sales Growth Adj. Operating Margin Adjusted EPS Free Cash Flow ~1% Organic and ~5% Net M&A up >60bps y/y up 7-8% y/y up double digits y/y ADJUSTED EPS PERFORMANCE 4Q 2024 Considerations $16.35 to Storm restoration efforts +23% CAGR $16.
Slide 8: 2025 Early Planning Considerations
2025 Early Planning Considerations UTILITY SOLUTIONS ELECTRICAL SOLUTIONS Grid Grid Electrical Automation Infrastructure Products Heavy Industrial Non Residential Sales by Datacenter Sales by End End Market Industrial Market Electrical Light Electrical T&D Industrial Transmission Grid modernization
Slide 9: Appendix
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Slide 10: Appendix
Appendix References to "adjusted" operating measures exclude the impact of certain costs, gains or losses. Management believes In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. GAAP, which these adjusted operating measures provide usefu
Slide 11: Appendix: Adjusted Net Income and EPS Reconciliation
Appendix Reconciliation of Adjusted Net Income to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 Change 2024 2023 Change Net income attributable to Hubbell (GAAP measure) $ 219.4 $ 200.1 10 % $ 580
Slide 12: Appendix: Adjusted Operating Margin Reconciliation
Appendix Reconciliation of Adjusted Operating Margin to the most directly comparable GAAP measure (millions): Hubbell Incorporated Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 Change 2024 2023 Change Net Sales [a] $ 1,442.6 $ 1,375.8 5% $ 4,294.2 $ 4,027.1 7% Operating
Slide 13: Appendix: Organic Net Sales Growth Reconciliation
Appendix Reconciliation of Organic Net Sales Growth to Net Sales Growth (millions and percentage change): Hubbell Incorporated Three Months Ended September 30, Nine Months Ended September 30, 2024 Inc/(Dec)% 2023 Inc/(Dec)% 2024 Inc/(Dec)% 2023 Inc/(Dec)% Net sales growth (GAAP measure) $ 66.8 4.9 $
Slide 14: Appendix: Net Debt and Free Cash Flow Reconciliation
Appendix Reconciliation of Net Debt to the most directly comparable GAAP measure (millions): Hubbell Incorporated September 30, 2024 December 31, 2023 Total Debt (GAAP measure) $ 1,931.5 $ 2,140.6 Total Hubbell Shareholders’ Equity 3,215.0 2,877.0 Total Capital $ 5,146.5 $ 5,017.6 Total Debt to Tota