HUBBELL INC (HUBB)

Hubbell Incorporated is a manufacturer of electrical and utility solutions, founded as a proprietorship in 1888 and incorporated in Connecticut in 1905. It has more than 75 brands used around the world. The company provides products that help customers operate critical infrastructure reliably and efficiently, and it frames its offering around energy infrastructure In Front of the Meter (utility transmission and distribution), on The Edge (connecting utilities with owners and operators so energy and data flow both ways), and Behind the Meter (where buildings and other critical infrastructure consume energy).

Hubbell reports two segments. Utility Solutions (63% of 2025 revenue) supplies components that let the grid transmit, distribute, communicate and control energy. Products include arresters, insulators, connectors, anchors, bushings, enclosures, cutouts and switches, along with smart meters, communications systems, and protection and control devices. It serves electrical distribution, substation, transmission, gas distribution, telecommunications, utility meters and advanced metering infrastructure, and grid protection and controls markets. Brands include Aclara, Chance, Ohio Brass, Anderson and Beckwith Electric. Electrical Solutions (37% of 2025 revenue) sells standard and special application wiring devices, rough-in electrical products, connector and grounding products, industrial controls and communication systems, and other electrical equipment. Some are designed for harsh and hazardous locations such as oil and gas and mining. Brands include Hubbell, Bell, Raco, Burndy, Killark, Bryant and GAI-Tronics. The company sold its residential lighting business in the first quarter of 2024 for a cash price of $131 million.

Customers include distributors, wholesalers, electric utilities, OEMs, electrical contractors, telecommunications companies, and retail and hardware outlets. The top ten customers account for about 42% of net sales, and no single customer is a dependency. Electrical Solutions products serve non-residential, light and heavy industrial, datacenter, electric transmission and distribution, and renewables markets. They are sold mainly through electrical and industrial distributors, home centers, retail and hardware outlets and residential-oriented internet sites, while special application products go through wholesale distributors to contractors, industrial customers and OEMs. Utility Solutions products are sold mainly through distributors or directly to utilities. Backlog of firm orders was $2,159 million at December 31, 2025, versus $1,898 million a year earlier.

Products are sourced complete, manufactured or assembled by subsidiaries in the United States, Canada, Puerto Rico, Mexico, China, the UK, Brazil, Australia, Spain, Ireland and the Philippines. The company also has joint ventures in Hong Kong and the Philippines and offices in several other countries. Raw materials include steel, aluminum, brass, copper, bronze, zinc, nickel, plastics, elastomers and petrochemicals, plus purchased electronic components, and no single supplier is material. Hubbell holds about 3,250 active patents but does not consider its business dependent on them. It faces substantial competition that varies by product line, including some larger companies, and competes on performance, reliability, quality, innovation, price and service. At December 31, 2025 it had approximately 18,000 employees, about 61% in the United States.