Hubbell said net sales for Q2 2024 rose to $1,452.5 million, up 6%. The company said organic growth from price realization accounted for 2% and acquisitions, net of divestitures, for 4%.

1. 01

   Hubbell said net sales for Q2 2024 rose to $1,452.5 million, up 6%. The company said organic growth from price realization accounted for 2% and acquisitions, net of divestitures, for 4%.

2. 02

   The company said its operating margin for Q2 2024 fell to 20.7%, down 40 basis points, while its adjusted operating margin rose to 22.8%, up 40 basis points. The adjusted figures exclude amortization of acquisition-related intangibles and transaction, integration and separation costs.

3. 03

   Hubbell said net income attributable to Hubbell Incorporated for Q2 2024 was $213.6 million, up 3.3% from the same period a year earlier. It said adjusted net income rose 7% to $236.5 million. Diluted earnings per share increased 3%.

4. 04

   Hubbell said it had $397.2 million in cash and cash equivalents as of June 30, 2024 and could draw the full $750.0 million under its 2021 Credit Facility. The company also said it paid $131.0 million in dividends and used $20.0 million for share repurchases in the first six months of 2024.

Key figures

Quarter ended June 30, 2024

Revenue

$1.5B

Operating income

$301M

Net income

$214M

EPS

$3.94

Gross profit

$509M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.