HUBB · Hubbell Incorporated

Hubbell Incorporated reported strong first quarter 2026 results, with net sales increasing 11% to $1.517 billion, driven by 8.2% organic growth, 2.3% from M&A, and 0.6% from foreign exchange. The Utility Solutions segment grew 11% to $949 million, led by 18% growth in Grid Infrastructure, partially offset by a 7% decline in Grid Automation. Electrical Solutions segment sales rose 12% to $568 million, with 11% organic growth fueled by strong datacenter and light industrial markets. GAAP diluted EPS was $3.41, while adjusted diluted EPS of $3.93 increased 16% year-over-year, exceeding the prior consensus of $4.73 (note: the consensus context provided appears to be for a different period; the Q1 2026 adjusted EPS of $3.93 is a record). Adjusted operating margin expanded 110 basis points to 19.8%, driven by volume growth in high-margin businesses and effective price and productivity management, partially offset by cost inflation and restructuring investments. Management highlighted double-digit growth in sales, operating profit, and EPS, and expressed confidence in the full-year outlook. The company raised its full-year 2026 adjusted diluted EPS guidance to $19.30-$19.85, up from the prior range, and expects total sales growth of 8-11% with organic growth of 6-9%. Free cash flow improved to $46 million from $11 million in the prior year quarter. The strong operational performance and raised guidance underscore Hubbell's momentum in attractive end markets, including grid modernization and data center infrastructure.