Hubbell (HUBB) investor relations material

Business performance and growth outlook

• Achieved 10% compound annual growth and 20% EPS growth over the past five years, with expectations to maintain mid-single-digit top-line growth through the cycle.

• 2025 guidance was raised during the year, with performance skewing more toward margin than volume and a slight shift toward electrical over utility.

• Margin expansion is supported by 25–30% incrementals, targeting 8% EPS growth and aiming for steady-state double-digit earnings growth.

• Markets are expected to outperform GDP, with strong positioning anticipated over the next five years.

Leadership transition and management strategy

• CFO transition planned for early next year, with Joe Capozzoli succeeding Bill Sperry after excelling in multiple roles.

• Joe has led shared services, operations, and the electrical segment, driving productivity and restructuring.

• The transition is designed to ensure continuity in mission and strategy.

Utility and electrical segment trends

• Electric distribution is recovering from destocking, with sequential growth and a medium-term outlook of low to mid-single-digit growth.

• Transmission and substation segments are experiencing double-digit growth, driven by urgent data center demand.

• Smart meter business has stabilized after contraction and is expected to return to modest growth in Q4.

• Utilities are prioritizing transmission and substation spending due to data center urgency, slightly crowding out distribution.