Research · Sep 3, 2026
[HUBB] Hubbell Thesis 2026: Grid Modernization Demand Drives Quarter and Acquisition Adds
Hubbell FY25 revenue $5.84B (+4%); op income $1.22B (+12%); NI $887M (+14%); EPS $16.54. Q4 +12% sales / +9% organic / +140bp adj margin / +19% adj OP / +15% adj EPS. Utility Solutions +10% Q4 (Grid Infrastructure +12% organic); Electrical Solutions +13% organic (data center >60%). Electrical hit 20% adj op margin first time. DMC Power acquired Q4 ($0.20 FY26 EPS accretion). FY26 guide: revenue 7-9% / organic 5-7%; adj EPS $19.15-$19.85.