NYSE$HUBB
Hubbell Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Hubbell's Q2 2024 results were reported, featuring a 6% increase in net sales and adjusted diluted EPS of $4.37.
Hubbell Incorporated reported solid performance in the second quarter of 2024, with strong operational execution and a return to adjusted operating margin expansion. The company's vertical market strategy drove strong sales growth in datacenters and renewables, while unification and simplification efforts contributed to significant operating margin expansion in the HES segment. The company is raising its full year 2024 outlook.
- Diluted EPS was $3.94; adjusted diluted EPS was $4.37.
- Net sales increased by 6%, with organic growth of 2% and net M&A contributing 5%.
- Operating margin was 20.7%; adjusted operating margin was 22.8%, a 40bps year-over-year increase.
- The FY24 outlook was raised, with diluted EPS projected at $14.30-$14.60 and adjusted diluted EPS at $16.20-$16.50.
Headline financials
Revenue & EPS history
Hubbell · Revenue · Quarterly
$1.45B
Revenue by segment
Hubbell · $1.29B total across 2 segments · Q1 2023
- Utility Solutions$782M—60.8%
- Electrical Solutions$504M—39.2%
Forward guidance
For the full year 2024, Hubbell anticipates diluted earnings per share in the range of $14.30-$14.60 and anticipates adjusted diluted earnings per share in the range of $16.20-$16.50. The Company continues to expect full year 2024 free cash flow of approximately $800 million.
Tailwinds
- Full year 2024 total sales growth of 7-8%.
- Organic net sales growth of approximately 3%.
- Acquisitions net of the residential lighting business divestiture contributing approximately 5% to full year sales growth.
- Adjusted tax rate of approximately 22.5%.
- Full year 2024 free cash flow of approximately $800 million.
Headwinds
- Diluted EPS and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include approximately $0.35 of anticipated restructuring and related investment.
- Ongoing softness in the telecommunication markets.
- Ongoing softness in the residential market of Electrical Solutions.
- Potential for a significant economic slowdown.
- Continued inflation, stagflation or recession, higher interest rates, and higher energy costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.9%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+2.1%
Avg return
30 days after
69%
47 / 68 earnings
Positive
+11.9%
Q1 2023
Best reaction
-16.1%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | -7.0% | -13.3% | |
| Q4 2025 | +1.7% | +1.7% | -3.8% | |
| Q3 2025 | +4.9% | +8.3% | -1.3% | |
| Q1 2025 | -5.5% | -4.1% | +7.3% | |
| Q4 2024 | -1.9% | -1.9% | -15.3% | |
| Q3 2024 | -4.0% | -5.3% | +2.0% | |
| Q2 2024 | +7.8% | -0.2% | +7.8% | |
| Q1 2024 | -8.3% | -6.7% | -4.1% | |
| Q4 2023 | +0.9% | +6.5% | +14.5% | |
| Q3 2023 | -1.5% | -0.5% | +5.9% | |
| Q2 2023 | -7.1% | -7.1% | -5.2% | |
| Q1 2023 | +11.9% | +15.9% | +23.3% | |
| Q4 2022 | +3.7% | +4.9% | +8.5% | |
| Q3 2022 | +6.7% | +6.2% | +14.7% | |
| Q2 2022 | +7.3% | +12.0% | +12.8% | |
| Q1 2022 | +3.7% | +3.2% | -1.4% | |
| Q4 2021 | -0.9% | +0.1% | -4.0% | |
| Q3 2021 | +0.2% | +4.8% | +9.6% | |
| Q2 2021 | +0.8% | +3.2% | +5.7% | |
| Q1 2021 | +0.5% | +0.8% | -0.4% | |
| Q4 2020 | +1.5% | +1.9% | +10.0% | |
| Q3 2020 | -3.2% | -2.3% | +9.1% | |
| Q2 2020 | +0.8% | +2.3% | +9.0% | |
| Q1 2020 | -3.7% | -4.1% | -3.4% | |
| Q4 2019 | +1.9% | -0.1% | -6.2% | |
| Q3 2019 | +2.4% | +2.6% | +5.8% | |
| Q2 2019 | +3.6% | +2.0% | +3.2% | |
| Q1 2019 | +3.1% | +5.2% | -5.0% | |
| Q4 2018 | +3.6% | +3.7% | +7.5% | |
| Q3 2018 | -16.1% | -17.8% | -12.1% | |
| Q2 2018 | +6.6% | +7.0% | +9.2% | |
| Q1 2018 | -9.2% | -11.8% | -6.5% | |
| Q4 2017 | -1.5% | -3.0% | -6.2% | |
| Q3 2017 | +3.8% | +3.8% | -0.3% | |
| Q2 2017 | +1.8% | +2.7% | -5.4% | |
| Q1 2017 | -6.1% | -6.9% | -3.8% | |
| Q4 2016 | +3.7% | +6.7% | +2.5% | |
| Q3 2016 | +0.3% | -0.3% | +7.8% | |
| Q2 2016 | +1.7% | +3.5% | +3.8% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +4.8% | — | — | |
| Q3 2015 | +7.6% | — | — | |
| Q2 2015 | -0.1% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +1.4% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | +0.8% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | +1.5% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | +3.1% | — | — | |
| Q1 2013 | +1.3% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | -1.9% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q2 2011 | +0.5% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2011 | +5.9% | — | — | |
| Q1 2010 | -0.6% | — | — | |
| Q1 2011 | -0.6% | — | — | |
| Q4 2008 | +1.9% | — | — | |
| Q2 2010 | +1.9% | — | — | |
| Q4 2010 | +1.9% | — | — | |
| Q3 2010 | +2.2% | — | — | |
| Q3 2009 | +2.2% | — | — | |
| Q2 2009 | +4.6% | — | — | |
| Q4 2009 | +4.6% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro