Hubbell (HUBB) Q4 2025 earnings summary

Executive summary

• Achieved double-digit growth in sales, adjusted operating profit, and EPS in Q4 2025, driven by strong demand in utility, electrical, and datacenter markets, as well as infrastructure investments.

• Delivered on FY25 outlook with significant progress in segment unification, operational execution, and price/cost management.

• Strong order momentum in T&D and data center markets contributed to organic sales growth and backlog build.

• Free cash flow margin reached 15% and return on invested capital was 19% for 2025.

Financial highlights

• Q4 2025 net sales were $1.493 billion, up 12% year-over-year; adjusted operating profit was $349 million, up 19%; adjusted diluted EPS was $4.73, up 15%.

• FY25 net sales reached $5.84B, up 4% year-over-year; adjusted operating profit was $1.33B, up 7%; adjusted EPS grew 10% to $18.21.

• Adjusted operating margin expanded by 140 basis points in Q4 and reached 22.7% for FY25 (+80bps year-over-year).

• Free cash flow for FY25 was $875M (90% of adjusted net income), with a free cash flow margin of 15%.

• Net debt to EBITDA at year-end was 1.3x; net debt to total capital was 28%.

Outlook and guidance

• 2026 outlook projects 7-9% sales growth (5-7% organic), with adjusted diluted EPS of $19.15–$19.85 and about 90% free cash flow conversion.

• Anticipates ~10% adjusted operating profit growth and further margin expansion in 2026.

• CapEx planned at $175–190M; restructuring and related expenses expected to be $15–20M.

• Price and productivity actions expected to at least offset mid-single digit cost inflation in 2026.