Hubbell Q2 results beat estimates; raises annual profit forecast

Overview

• U.S. utility and electrical equipment maker's Q2 revenue rose 15%, beating analyst expectations

• Adjusted EPS for Q2 increased 12% and beat analyst expectations

• Company raised full-year adjusted EPS outlook, citing strong demand in utility and electrical markets

Outlook

• Hubbell raises full-year 2026 adj diluted EPS outlook to $20.25-$20.55

• Company expects 2026 total sales growth of 16-18%, organic sales growth of 9-11%

• Hubbell sees strong demand in utility and electrical markets, driven by grid modernization

Result Drivers

• STRONG END-MARKET DEMAND - Co said grid modernization, load growth and datacenter investment drove organic growth, with visible demand strength across utility and electrical markets

• PRICE AND PRODUCTIVITY ACTIONS - Co said it managed inflation through price increases and productivity improvements, partially offsetting higher cost inflation, raw material costs and tariffs

Company press release: ID:nGNX79BbSM

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electrical components equipment peer group is "buy"

• Wall Street's median 12-month price target for Hubbell Inc is $567.50, about 14% above its July 27 closing price of $497.96

• The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 24 three months ago

Reuters Recommended Reads

• July 28 - CenterPoint Energy beats Q2 profit estimates, boosts 10-year capital investment plan

• July 28 - DTE Energy tops quarterly profit estimates as energy trading unit shines

• July 28 - CMS Energy Q2 revenue misses estimates; maintains long-term adjusted EPS growth target

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)