HUBBELL INC (HUBB)

Hubbell Incorporated, founded in 1888 and incorporated in Connecticut in 1905, is a world-class manufacturer of electrical and utility solutions operating under more than 75 brands, serving customers through critical infrastructure products across In Front of the Meter, The Edge, and Behind the Meter applications. The company manufactures, assembles, or sources products through subsidiaries in the United States, Canada, Puerto Rico, Mexico, China, the UK, Brazil, Australia, Spain, Ireland, and the Philippines, with joint ventures in Hong Kong and the Philippines and offices in several other countries. Hubbell operates through two segments: Utility Solutions (63% of 2025 revenue), which provides transmission and distribution components (arresters, insulators, connectors, switches) and Edge technologies like smart meters and grid controls under brands such as Aclara, Chance, Fargo, and PCORE; and Electrical Solutions (37% of 2025 revenue), which offers wiring devices, rough-in electrical products, connectors, and industrial controls—including harsh and hazardous location products for oil, gas, and mining—under brands like Hubbell, Bell, Burndy, and Killark, sold through electrical/industrial distributors, home centers, and retail outlets.

In December 2023, the company sold its residential lighting business (2023 sales of $187.1 million) for $131 million, closing in Q1 2024 with a $5.3 million pre-tax loss. Hubbell serves a diverse customer base of distributors, utilities, OEMs, and contractors, with top ten customers representing about 42% of net sales, and is not materially dependent on any single customer or supplier for raw materials such as steel, aluminum, copper, and plastics. The company holds approximately 3,250 active patents but does not consider its business patent-dependent.

Backlog at year-end 2025 was $2,159 million, up from $1,898 million in 2024, with most expected to ship in 2026. Hubbell faces substantial competition across varied product categories, some against larger, better-resourced competitors, and competes primarily on product performance, quality, innovation, price, and service. The company is subject to environmental and workplace safety regulations and has incurred remediation costs from past operations, though it does not expect these to materially affect its financial condition.

As of December 31, 2025, Hubbell employed approximately 18,000 people, with about 10,900 (61%) in the United States, including roughly 2,425 unionized workers represented by eight labor unions; the company emphasizes employee development, safety, and engagement through programs like Hubbell University and its Elevate survey, which saw over 87% participation in 2025. Executive leadership includes Chairman, President and CEO Gerben W. Bakker, along with senior officers overseeing finance, legal, human resources, and the two operating segments.