Hubbell (HUBB) Q1 2026 earnings summary

Executive summary

• Q1 2026 delivered double-digit growth in sales, adjusted operating profit, and adjusted EPS, driven by robust demand in Utility Solutions and Electrical Solutions, particularly in datacenter and grid infrastructure markets.

• Raised full-year 2026 outlook for total and organic sales growth, and adjusted EPS, citing strong end-market demand and effective price, cost, and productivity management.

• Margin expansion supported by high-margin business growth and ongoing investments in productivity, despite inflation and restructuring costs.

• Highlighted multi-year growth opportunity in high voltage (765 kV) transmission, with early project wins and capacity expansion investments.

Financial highlights

• Q1 2026 net sales reached $1.517 billion, up 11% year-over-year, with 8.2% organic growth and additional contributions from acquisitions.

• Adjusted operating profit was $301 million, up 18% year-over-year; adjusted operating margin expanded by 110 basis points to 19.8%.

• Adjusted EPS was $3.93, a 16% increase versus prior year, driven by profit growth and share repurchases.

• Free cash flow for Q1 was $46 million, up significantly year-over-year.

• Repurchased $168 million in shares during Q1 at an average price below $500 per share.

Outlook and guidance

• Raised full-year 2026 sales growth outlook to 8%-11% and organic sales growth to 6%-9%.

• Full-year adjusted EPS guidance increased to $19.30-$19.85.

• Expect double-digit adjusted operating profit growth at midpoint of guidance.

• Free cash flow conversion expected at 90%+ of adjusted net income for 2026.

• Continued investment in restructuring and productivity initiatives throughout 2026.