Hubbell Incorporated Reports Earnings Results for the Full Year Ended December 31, 2023
January 30, 2024 at 07:30 am EST
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Hubbell Incorporated reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 5,372.9 million compared to USD 4,947.9 million a year ago. Net income was USD 759.8 million compared to USD 511.3 million a year ago.
Basic earnings per share from continuing operations was USD 14.14 compared to USD 9.49 a year ago. Diluted earnings per share from continuing operations was USD 14.05 compared to USD 9.43 a year ago.
Hubbell Incorporated specializes in the design, manufacture and distribution of equipment used in the transmission of electricity. Net sales break down by family of products as follows:
- equipment for electricity distribution networks (60.7%): switches, surge arresters, insulators, bushings, fastening and insulation systems, sensors, transformers, disconnectors, meters, devices for underground installations, equipment for power lines and poles, etc.;
- equipment for electrical installations (39.3%): switches, recharging stations, relays, fittings, contactors, sockets, resistors, wall plates, boxes, lighting systems, cable management systems, control panels, etc. used in the industrial, residential, IT, hospital, energy, telecommunications and other sectors.
At the end of 2023, Hubbell Incorporated has 52 production sites worldwide.
The United States accounts for 91.6% of net sales.
HUBBELL INCORPORATED 
