Hubbell Inc. Files 2024 10-K

TL;DR

Hubbell Inc. dropped its 2024 10-K. All systems go.

AI Summary

Hubbell Inc. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The company, incorporated in Connecticut, operates in the electronic components & accessories sector. Key financial data and business operations for the period are detailed within this comprehensive annual report.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Hubbell Inc.'s financial performance, strategic initiatives, and risk factors for the 2024 fiscal year.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• 20241231 — Fiscal Year End (Reporting period for the 10-K)
• 20250213 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• HUBBELL INC (company) — Filer
• 20241231 (date) — Fiscal Year End
• 20250213 (date) — Filing Date
• CT (location) — State of Incorporation
• 2037994100 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ch Registered Common Stock — par value $0.01 per share HUBB New York Stock Exchange
• $131 m — g business for a cash purchase price of $131 million, subject to customary adjustments
• $187.1 million — hting solutions. The business generated $187.1 million in sales in 2023. The assets and liabil
• $5.3 m — recorded a pre-tax loss on the sale of $5.3 million, which is recorded within Total o
• $70 million — d during 2025, along with approximately $70 million of backlog of contracts that span multi
• $1,898 million — ved to be firm at December 31, 2024 was $1,898 million compared to $2,328 million at December
• $2,328 million — 31, 2024 was $1,898 million compared to $2,328 million at December 31, 2023. Although this bac

Filing Documents

• hubb-20241231.htm (10-K) — 2970KB
• hubb-20241231exx411.htm (EX-4.11) — 9KB
• hubb-20241231xex1007.htm (EX-10.07) — 11KB
• hubb-20241231xex1008.htm (EX-10.08) — 31KB
• hubb-20241231xex1009.htm (EX-10.09) — 27KB
• hubb-20241231xex1010.htm (EX-10.10) — 28KB
• hubb-20241231xex1011.htm (EX-10.11) — 33KB
• hubb-20241231xex1015.htm (EX-10.15) — 91KB
• hubb-20241231xex1017.htm (EX-10.17) — 91KB
• hubb-20241231xex191.htm (EX-19.1) — 23KB
• hubb-20241231xex211.htm (EX-21.1) — 48KB
• hubb-20241231xex231.htm (EX-23.1) — 3KB
• hubb-20241231xex311.htm (EX-31.1) — 11KB
• hubb-20241231xex312.htm (EX-31.2) — 12KB
• hubb-20241231xex321.htm (EX-32.1) — 6KB
• hubb-20241231xex322.htm (EX-32.2) — 6KB
• hubb-20241231_g1.jpg (GRAPHIC) — 342KB
• hubb-20241231_g2.jpg (GRAPHIC) — 73KB
• 0001628280-25-005311.txt ( ) — 18862KB
• hubb-20241231.xsd (EX-101.SCH) — 101KB
• hubb-20241231_cal.xml (EX-101.CAL) — 188KB
• hubb-20241231_def.xml (EX-101.DEF) — 586KB
• hubb-20241231_lab.xml (EX-101.LAB) — 1304KB
• hubb-20241231_pre.xml (EX-101.PRE) — 972KB
• hubb-20241231_htm.xml (XML) — 3180KB

Business

Business 3 ITEM 1A

Risk Factors

Risk Factors 10 ITEM 1B Unresolved Staff Comments 17

Cybersecurity

ITEM 1C Cybersecurity 17 ITEM 2

Properties

Properties 18 ITEM 3

Legal Proceedings

Legal Proceedings 18 ITEM 4 Mine Safety Disclosures 18 PART II 19 ITEM 5 Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 ITEM 6 Reserved 21 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 ITEM 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 40 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 42 ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 95 ITEM 9A

Controls and Procedures

Controls and Procedures 95 ITEM 9B Other Information 95 ITEM 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 95 PART III 96 ITEM 10 Directors, Executive Officers and Corporate Governance 96 ITEM 11

Executive Compensation

Executive Compensation 96 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 96 ITEM 13 Certain Relationships and Related Transactions and Director Independence 97 ITEM 14 Principal Accountant Fees and Services 97 PART IV 98 ITEM 15 Exhibits and Financial Statement Schedule 98 ITEM 1 6 Form 10-K Summary 101

SIGNATURES

SIGNATURES 102 2 HUBBELL INCORPORATED - Form 10-K PART I

Business

ITEM 1 Business Hubbell Incorporated (herein referred to as "Hubbell", the "Company", the "registrant", "we", "our" or "us", which references shall include its divisions and subsidiaries as the context may require) was founded as a proprietorship in 1888, and was incorporated in Connecticut in 1905. Recognized for our innovation, quality, and deep commitment to serving our customers for over 135 years, Hubbell is a world-class manufacturer of electrical and utility solutions, with more than 75 brands used around the world. We provide utility and electrical solutions that enable our customers to operate critical infrastructure reliably and efficiently, and we empower and energize communities through innovative solutions supporting energy infrastructure In Front of the Meter, on The Edge, and Behind the Meter. In Front of the Meter is where utilities transmit and distribute energy to their customers. The Edge connects utilities with owners and operators and allows energy and data to be distributed back and forth. Behind the Meter is where owners and operators of building and other critical infrastructure consume energy. Our products are either sourced complete, manufactured or assembled by subsidiaries in the United States, Canada, Puerto Rico, Mexico, the People's Republic of China ("China"), the United Kingdom ("UK"), Brazil, Australia, Spain, Ireland, and the Republic of the Philippines. Hubbell also participates in joint ventures in Hong Kong and the Republic of the Philippines, and maintains offices in Singapore, Italy, China, India, Mexico, South Korea, Chile, and countries in the Middle East. The Company's reporting segments consist of the Utility Solutions segment and the Electrical Solutions segment. The Company's annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports are made available free of charge through the Investor Relations section of the Company's website at http://www.hubb

Risk Factors

ITEM 1A Risk Factors Our business, operating results, financial condition, and cash flows may be affected by a number of factors including, but not limited to those set forth below. Any one of these factors could cause our actual results to vary materially from recent results or future anticipated results. See also Item 7. Management's Discussion and Analysis — "Executive Overview of the Business" and "Results of Operations". Industry and Economic Risks Inflation and other unfavorable economic conditions may adversely affect our business results of operations and financial condition. Our operating results can be sensitive to changes in general economic conditions, macro-economic effects of the U.S. government federal deficit, inflation, economic slowdowns, stagflation and recessions. Our sales are subject to market conditions that may cause customer demand for our products to be volatile and unpredictable. Product demand can be affected by fluctuations in domestic and international economic conditions, as well as currency fluctuations, commodity costs, and a variety of other factors. We have in the past experienced, and may continue to experience, significant inflationary pressure across much of our business. Global supply chain issues and increased demand have in the past led to, and may continue to lead to, increased freight, labor and commodity costs. In addition, various factors, including the level of economic activity in China, the war between Ukraine and Russia and the conflict in the Middle East, have added, and may continue to add, to the volatility in energy costs. We have had to take various pricing actions to cover the increase in our costs associated with inflationary pressure and protect our margin profile. There can be no assurance that we will be able to maintain our margins in response to further changes in inflationary pressures. In addition, macroeconomic effects such as increases in interest rates and other measures taken by central b

View Full Filing

View this 10-K filing on SEC EDGAR