HUBBELL INC

HUBB 10-Q · Q2 2025

HUBB Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 1,484.3 1,452.5 +2.2%
Show Product Lines breakouts
Electrical Products · Electrical Solutions 253.4 246.8 +2.7%
Grid Automation · Utility Solutions 236.8 272 -12.9%
Grid Infrastructure · Utility Solutions 698.7 654.5 +6.8%
Industrial · Electrical Solutions 295.4 279.2 +5.8%
Show Business Segments breakouts
Electrical Solutions 548.8 526 +4.3%
Electrical Solutions · Non Us 70.3 78.1 -10.0%
Electrical Solutions · Operating Segments 548.8 526 +4.3%
Electrical Solutions · US 478.5 447.9 +6.8%
Utility Solutions 935.5 926.5 +1.0%
Utility Solutions · Non Us 44.2 46.8 -5.6%
Utility Solutions · Operating Segments 935.5 926.5 +1.0%
Utility Solutions · US 891.3 879.7 +1.3%
Show Restatement breakouts
Scenario Previously Reported 1,484.3 1,452.5 +2.2%
Cost of Revenue 932.2 938.7 -0.7%
Show Business Segments breakouts
Electrical Solutions · Operating Segments 334.6 326.1 +2.6%
Utility Solutions · Operating Segments 597.6 612.6 -2.4%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 0.2 0.1 +100.0%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment -28.8 -5.1 -464.7%
Scenario Previously Reported 961 943.8 +1.8%
Gross Profit 552.1 513.8 +7.5%
Show Business Segments breakouts
Electrical Solutions · Operating Segments 214.2 199.9 +7.2%
Utility Solutions · Operating Segments 337.9 313.9 +7.6%
Selling, General & Administrative 215.8 207.5 +4.0%
Show Business Segments breakouts
Electrical Solutions · Operating Segments 96.1 90.8 +5.8%
Utility Solutions · Operating Segments 119.7 116.7 +2.6%
Operating Income 336.3 306.3 +9.8%
Show Business Segments breakouts
Electrical Solutions · Operating Segments 118.1 109.1 +8.2%
Utility Solutions · Operating Segments 218.2 197.2 +10.6%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 28.8 5.1 +464.7%
Scenario Previously Reported 307.5 301.2 +2.1%
Interest Income Expense Nonoperating Net -14.5 -19.8 +26.8%
Gain Loss On Sale Of Business -0.4
Other Non-Operating Income (Expense) -6.2 -1.2 -416.7%
Total Other Income Expense -21.1 -21 -0.5%
Income Before Taxes 315.2 285.3 +10.5%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 28.8 5.1 +464.7%
Scenario Previously Reported 286.4 280.2 +2.2%
Income Tax Expense (Benefit) 69.7 66.2 +5.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -0.6 -0.6 0.0%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 0.1 0.1 0.0%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 6.5 1.2 +441.7%
Scenario Previously Reported 63.2 65 -2.8%
Net Income 245.5 219.1 +12.0%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -2.1 -1.7 -23.5%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 0.1
Noncontrolling Interest 1.3 1.6 -18.8%
Parent 244.2 217.5 +12.3%
Retained Earnings 244.2 217.5 +12.3%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 22.3 3.9 +471.8%
Scenario Previously Reported 223.2 215.2 +3.7%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income -2 -1.7 -17.6%
Net Income Loss Attributable To Noncontrolling Interest -1.3 -1.6 +18.8%
Show Restatement breakouts
Scenario Previously Reported -1.3 -1.6 +18.8%
Net Income 244.2 217.5 +12.3%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 22.3 3.9 +471.8%
Scenario Previously Reported 221.9 213.6 +3.9%
EPS (Basic) 4.58 4.04 +13.4%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 0.42 0.07 +500.0%
Scenario Previously Reported 4.16 3.97 +4.8%
EPS (Diluted) 4.56 4.01 +13.7%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 0.42 0.07 +500.0%
Scenario Previously Reported 4.14 3.94 +5.1%
Comprehensive Income 276.5 200.2 +38.1%
Wtd Avg Shares (Basic) 53.2 53.7 -0.9%
Wtd Avg Shares (Diluted) 53.5 54.1 -1.1%
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments (Q)
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment Net Prior Service Cost Credit · Reclassification Out Of Accumulated Other Comprehensive Income -0.1 -0.1 0.0%
Accumulated Defined Benefit Plans Adjustment Net Unamortized Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -2.6 -2.2 -18.2%
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -2.7 -2.3 -17.4%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 0.2 0.1 +100.0%
Net Income Loss Available To Common Stockholders Basic 243.8 217.1 +12.3%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 382.6 397.2 -3.7%
Short-Term Investments 17 9.3 +82.8%
Receivables Net Current 899.7 893.2 +0.7%
Inventory 1,029.6
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 188.9
Scenario Previously Reported 840.7
Other Assets Current 147.5 118.5 +24.5%
Total Current Assets 2,476.4
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 188.9
Scenario Previously Reported 2,287.5
Non-Current Assets
Property, Plant & Equipment 745.6 674.5 +10.5%
Marketable Securities (Non-Current) 96 80.8 +18.8%
Goodwill 2,562.1 2,513.7 +1.9%
Show Business Segments breakouts
Electrical Solutions 677.1 634.6 +6.7%
Utility Solutions 1,885 1,879.1 +0.3%
Show Business Acquisition breakouts
2025 Acquisitions 40
Other Non-Current Assets 202.8 192.3 +5.5%
Total Assets 7,149
Show Business Segments breakouts
Electrical Solutions · Operating Segments 2,118.5
Utility Solutions · Operating Segments 4,641.2
Show Consolidation Items breakouts
Corporate Non Segment 389.3
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 188.9
Scenario Previously Reported 6,960.1
Other Assets
Intangible Assets Net Excluding Goodwill 1,066.1 1,135.7 -6.1%
Current Liabilities
Debt Current 802.7 110.5 +626.4%
Accounts Payable 529.5 586.7 -9.7%
Employee Related Liabilities Current 106.1 110.9 -4.3%
Accrued Insurance Current 81.3 76.1 +6.8%
Accrued Liabilities 388.8 374.3 +3.9%
Total Current Liabilities 1,908.4
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 17.7
Scenario Previously Reported 1,890.7
Deferred Revenue (Current) 144.3 141.5 +2.0%
Commercial Paper 401 90 +345.6%
Current Portion of Long-Term Debt (Q)
Show Debt Instrument breakouts
Senior notes at 3.35% · Senior Notes 399.5
Non-Current Liabilities
Long-Term Debt 1,044.4 1,892.7 -44.8%
Show Debt Instrument breakouts
Notes 2028 Term [Member] · Senior Notes 448.1 447.4 +0.2%
Senior notes at 2.300% · Senior Notes 297.4 297 +0.1%
Senior notes at 3.15% · Senior Notes 298.9 298.3 +0.2%
Other Non-Current Liabilities 697.4
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 27.5
Scenario Previously Reported 669.9
Total Liabilities 3,650.2
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 45.2
Scenario Previously Reported 3,605
Long-Term Debt 1,443.9
Show Debt Instrument breakouts
Senior notes at 3.35% 399.5
Operating Lease Liabilities 118.3 114 +3.8%
Deferred Tax Liabilities 271.4
Contract With Customer Liability Noncurrent 157.6 148.5 +6.1%
Other Liabilities
Minority Interest 11.1 13.7 -19.0%
Stockholders' Equity
Total Stockholders' Equity 3,487.7
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 143.7
Scenario Previously Reported 3,344
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 3,498.8
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -188.9
Accumulated Gain Loss Net Cash Flow Hedge Parent -0.5
Accumulated Net Unrealized Investment Gain Loss 0.2
Accumulated Other Comprehensive Income -334.7 -339 +1.3%
Accumulated Translation Adjustment -145.5
Common Stock 0.6 0.6 0.0%
Noncontrolling Interest 11.1 13.7 -19.0%
Parent 3,487.7 3,172.5 +9.9%
Retained Earnings 3,821.8 3,508.8 +8.9%
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 143.7
Scenario Previously Reported 3,355.1
Total Liabilities & Equity 7,149
Show Restatement breakouts
Revision Of Prior Period Change In Accounting Principle Adjustment 188.9
Scenario Previously Reported 6,960.1

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Depreciation & Amortization 95.2 109.5 -13.1%
Show Business Segments breakouts
Electrical Solutions · Operating Segments 27 23.5 +14.9%
Utility Solutions · Operating Segments 68.2 86 -20.7%
Deferred Income Taxes -18.4 7.6 -342.1%
Stock-Based Compensation 20.7 18.9 +9.5%
Gain Loss On Disposition Of Assets -1.3 0.2 -750.0%
Change in Accounts Receivable -140.4 -115.2 -21.9%
Change in Inventory -15.1 -27.8 +45.7%
Change in Accounts Payable -11.9 29.1 -140.9%
Increase Decrease In Other Current Liabilities -21.9 -56.9 +61.5%
Increase Decrease In Other Operating Capital Net -0.5 17.3 -102.9%
Pension Contributions -21.4 -1.3 -1546.2%
Other Non-Cash Items 2.6 -12.4 +121.0%
Net Cash from Operations 298 331.8 -10.2%
Change in Deferred Revenue 9.6 29.9 -67.9%
Investing Activities
Payments To Acquire Productive Assets -65.9 -74.2 +11.2%
Show Business Segments breakouts
Electrical Solutions · Operating Segments -30 -27.9 -7.5%
Utility Solutions · Operating Segments -35.9 -46.3 +22.5%
Payments To Acquire Businesses Net Of Cash Acquired -73.2 5.9 -1340.7%
Proceeds From Divestiture Of Businesses Net Of Cash Divested 2.6 122.9 -97.9%
Purchases of Investments -15.5 -9.7 -59.8%
Proceeds From Sale And Maturity Of Available For Sale Securities 5.4 10.6 -49.1%
Other Investing Activities 6 0.6 +900.0%
Net Cash from Investing -140.6 56.1 -350.6%
Financing Activities
Proceeds From Repayments Of Short Term Debt 277.7 -10.9 +2647.7%
Payments Of Dividends Minority Interest -140.9 -131 -7.6%
Share Repurchases -225 -20 -1025.0%
Proceeds From Payments For Other Financing Activities -29.3 -28.6 -2.4%
Net Cash from Financing -117.5 -319.3 +63.2%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 13.1 -8 +263.8%
Net Change in Cash 53 60.6 -12.5%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 382.6 397.2 -3.7%
Restricted Cash 2 2.7 -25.9%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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