Hubbell (HUBB) official guidance

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.30 to $17.50 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.40 to $20.60.

We are raising our full-year outlook for adjusted earnings per share from a range of $19.30-$19.85 to a range of $20.25-$20.55, which represents an increase of approximately 4% at the midpoint and a range of 11%-13% growth year-over-year.

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.25 to $17.55 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.25 to $20.55.

Overall, we continue to anticipate at least 90% free cash flow conversion on adjusted net income in 2026, and we are raising our full-year adjusted earnings per diluted share outlook to $19.30-$19.85 per share.

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.45 to $18.00 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $19.30 to $19.85.

Concluding our prepared remarks on page 10, we are initiating our 2026 outlook this morning for 7%-9% total sales growth, $19.15-$19.85 adjusted earnings per share, and approximately 90% free cash flow conversion on adjusted net income.

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.30 to $18.00 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $19.15 to $19.85.

The Company expects full year 2026 free cash flow conversion of approximately 90% on adjusted net income.

The Company continues to expect full year 2026 free cash flow conversion of 90% or greater on adjusted net income.

I'll highlight that our full-year outlook reflects approximately 20% adjusted operating profit growth at the midpoint of our range, reflecting highly attractive underlying operating performance.

Operationally, we anticipate double-digit growth in adjusted operating profit at the midpoint of our guidance range for 2026, driven primarily by strong sales growth in high-margin areas of our portfolio.

We anticipate that Hubbell's leading positions in attractive end markets, along with continued execution on our strategy, will enable us to manage effectively through a dynamic operating environment while achieving strong full year organic and adjusted operating profit growth.

At the midpoint of the range, this outlook anticipates approximately 10% year-over-year growth in adjusted operating profit, driven primarily by strong organic growth and core operating leverage, as well as wraparound contribution from the DMC Power acquisition.

Operationally, we anticipate adjusted operating margins of 23.1%-23.4%, representing 40-70 basis points of year-over-year expansion.

For the full year 2026, Hubbell anticipates total sales growth of 18-19%, including organic sales growth of 10-11%.

For the full year 2026, Hubbell anticipates total sales growth of 16-18% including organic sales growth of 9-11%.

We are raising our full-year sales growth outlook to 8%-11% and our organic sales growth outlook to 6%-9%.

For the full year 2026, Hubbell anticipates total sales growth of 8-11% including organic sales growth of 6-9%.

For the full year 2026, Hubbell anticipates total sales growth of 7-9% including organic sales growth of 5-7%.

We are raising our Electrical Solutions organic growth outlook to +12%-14%, driven by our increased expectations for data center growth of approximately 50% for the full year, as well as stronger non-residential and light industrial markets.

In Electrical Solutions, we anticipate 4%-6% organic growth for the full year, and similar to 2025, we expect growth to be led by data center markets, which now represent more than 10% of segment sales and are expected to expand mid-teens.

We are raising our Utility Solutions organic growth outlook to +7%-9%, largely reflecting strong visibility in T&D as a result of first-half orders.

As we will highlight in a few minutes, we now anticipate our Utility Solutions segment to deliver high single-digit organic growth on a full year basis.

In Utility Solutions, we anticipate 5%-7% organic growth for the full year.

For the full year 2026, Hubbell anticipates total sales growth of 18-19%, including organic sales growth of 10-11%.

On sales, we are raising our growth outlook from +8%-11% to +16%-18%, reflecting an additional five points of acquisition contribution from NSI, as well as an increased organic growth outlook from +6%-9% to +9%-11%.

For the full year 2026, Hubbell anticipates total sales growth of 16-18% including organic sales growth of 9-11%.

We are raising our full-year sales growth outlook to 8%-11% and our organic sales growth outlook to 6%-9%.

For the full year 2026, Hubbell anticipates total sales growth of 8-11% including organic sales growth of 6-9%.

Concluding our prepared remarks on page 10, we are initiating our 2026 outlook this morning for 7%-9% total sales growth, $19.15-$19.85 adjusted earnings per share, and approximately 90% free cash flow conversion on adjusted net income.

For the full year 2026, Hubbell anticipates total sales growth of 7-9% including organic sales growth of 5-7%.

For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.50 per share.

For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.70 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.15 per share.

Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.70 per share and approximately $0.15 per share for transaction, integration, and separation costs for the full year.

We expect a full-year adjusted tax rate of 22.0%-22.5%, though we anticipate a higher tax rate of approximately 24% in the third quarter, driven by timing of discrete items.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of 22.0% to 22.5% and include approximately $20 million of anticipated restructuring and related investment.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include $15-20 million of anticipated restructuring and related investment.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include $15-20 million of anticipated restructuring and related investment.

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.25 to $17.55 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.25 to $20.55.

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.45 to $18.00 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $19.30 to $19.85.

Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.30 to $18.00 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $19.15 to $19.85.

We anticipate approximately 90% free cash flow conversion on adjusted net income in 2026, which reflects the impact of increased year-over-year spending on capital expenditures and NSI acquisition costs.

Overall, we continue to anticipate at least 90% free cash flow conversion on adjusted net income in 2026, and we are raising our full-year adjusted earnings per diluted share outlook to $19.30-$19.85 per share.

Concluding our prepared remarks on page 10, we are initiating our 2026 outlook this morning for 7%-9% total sales growth, $19.15-$19.85 adjusted earnings per share, and approximately 90% free cash flow conversion on adjusted net income.

The Company expects full year 2026 free cash flow conversion of 90% or greater on adjusted net income.

So we're anticipating, as our guidance implied, approximately $20 million of restructuring related in the full year, for which roughly half of that, maybe slightly more than half, was spent in the first half, and a lot of that was in electrical.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of 22.0% to 22.5% and include approximately $20 million of anticipated restructuring and related investment.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include $15-20 million of anticipated restructuring and related investment.

And Julian, I would just I would say maybe just from a timing perspective, you know, we anticipate investing roughly $15 million-$20 million of restructuring this year.

The diluted earnings per share and Adjusted EPS ranges are based on an adjusted tax rate of approximately 22.5% and include $15-20 million of anticipated restructuring and related investment.

For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $2.50 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.50 per share.

For the full year, Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.70 per share, and transaction, integration, and separation costs, which the Company expects to be approximately $0.15 per share.

Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.70 per share and approximately $0.15 per share for transaction, integration, and separation costs for the full year.