Hubbell Raises Full-Year 2026 Outlook After Electrical Solutions Surge

The Tip Desk · November 8, 2026 · 3 min read

Third-quarter net sales reached $1.87 billion, up 25%, and the company lifted full-year adjusted diluted EPS guidance to $20.40–$20.60.

Hubbell Incorporated (HUBB) raised its full-year 2026 outlook after Electrical Solutions sales accelerated and the company lifted adjusted earnings guidance.

The utility and electrical equipment manufacturer reported third-quarter net sales of $1,872.5 million, up 25% from a year earlier, with organic growth of 11% and acquisitions contributing 13%. That compared with 15% total sales growth in the second quarter, when organic growth was 10% and M&A added 5%.

Adjusted diluted earnings were $5.91 a share, up 14% from a year earlier. GAAP diluted earnings were $4.94 a share. Adjusted operating margin expanded to 25.5%, up 160 basis points year over year, after a 50 basis-point year-over-year decline in the second quarter. GAAP operating margin was 21.8%.

Chairman, President and CEO Gerben Bakker said third-quarter results were highlighted by more than 20% organic growth in Electrical Solutions, led by strong datacenter markets and bolstered by content gains and capacity expansion investments. He said the company is raising its full-year 2026 outlook, primarily driven by stronger anticipated Electrical Solutions growth.

Electrical Solutions net sales rose 51% to $844.7 million, with organic growth of 22% and acquisitions adding 29%. Adjusted operating income in the segment was $209.5 million, or 24.8% of net sales. GAAP operating income was $167.5 million, or 19.8% of net sales. The company said changes in operating income and margin were driven primarily by volume growth, the impact of acquisitions, favorable price realization, productivity and a net tariff benefit, partially offset by higher cost inflation and raw material costs.

Utility Solutions net sales increased 9% to $1,027.8 million, with organic growth of approximately 5%. Grid Infrastructure net sales increased approximately 13%. Grid Automation net sales decreased approximately 4%. Segment operating income was $241.2 million, or 23.5% of net sales. Adjusted operating income was $267.3 million, or 26.0% of net sales. Bakker said Utility Solutions delivered solid organic growth led by distribution, transmission and substation markets, and that orders and end-market demand remained strong, driving continued backlog build.

Adjusted EBITDA was $506.9 million. Free cash flow was $280.4 million. Net cash provided by operating activities was $322.6 million.

For the full year 2026, Hubbell anticipates total sales growth of 18–19%, including organic sales growth of 10–11%. It expects GAAP diluted earnings per share of $17.30 to $17.50 and adjusted diluted earnings per share of $20.40 to $20.60. Those adjusted ranges exclude amortization of acquisition-related intangible assets, which the company expects to be approximately $2.50 a share, and transaction, integration and separation costs of approximately $0.60 a share. The 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 company expects full-year 2026 free cash flow conversion of approximately 90% on adjusted net income.

Adjusted diluted EPS in the third quarter excluded $0.89 of amortization of acquisition-related intangible assets and $0.08 of transaction, integration and separation costs.