Hubbell (HUBB) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 24.6% to $1,872.5M, with 11.3% organic growth; adjusted operating profit, EPS and free cash flow each increased YoY.

• Strong Electrical Solutions growth, utility T&D demand and NSI performance supported higher FY26 guidance and an attractive 2027 growth setup.

• NSI integration and performance were ahead of initial expectations; capacity investment is intended to serve near- and longer-term demand.

Financial highlights

• Net sales were $1,872.5M, up 24.6% YoY; organic growth was 11.3% and acquisitions contributed 13%.

• Adjusted operating profit was $476.8M, up 33%; adjusted operating margin was 25.5%, up 160 bps YoY.

• Adjusted diluted EPS was $5.91, up 14% YoY; higher interest expense and tax rate partly offset profit growth and a lower share count.

• Free cash flow was $280.4M, up 10% YoY; working-capital timing and higher capital expenditures affected the comparison.

• Gross profit was $688.2M, with a 36.8% margin versus 36.2% YoY; operating income was $408.7M versus $330.6M.

Outlook and guidance

• FY2026 sales growth guidance rose to 18%-19%, including organic growth of 10%-11% and an acquisition contribution of ~7.5%.

• FY2026 organic growth guidance: Electrical Solutions 17%-18%; Utility Solutions 6%-7%.

• FY2026 adjusted operating margin guidance is 23.0%-23.2%; adjusted operating profit is expected to grow over 20% at the midpoint.

• FY2026 adjusted EPS guidance rose to $20.40-$20.60, implying 12%-13% YoY growth; GAAP diluted EPS guidance is $17.30-$17.50.

• FY2026 free-cash-flow conversion is expected at ~90% of adjusted net income; 2027 organic growth is expected to meet or exceed the mid-single-digit framework, with 25%-30% incrementals.