Hubbell Inc. Files Q2 2024 10-Q Report
Ticker: HUBB · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 48898
| Field | Detail |
|---|---|
| Company | Hubbell Inc (HUBB) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Hubbell Inc. 10-Q filed. Q2 2024 results out.
AI Summary
Hubbell Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Key financial data and operational details are disclosed in this filing, which is standard for public companies.
Why It Matters
This filing provides investors with crucial financial performance data for Hubbell Inc. during the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- HUBBELL INC (company) — Filer
- 20240630 (date) — Period of Report
- 20240731 (date) — Filing Date
- 0000048898 (company) — Central Index Key
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing date is 20240731.
What is Hubbell Inc.'s Central Index Key (CIK)?
Hubbell Inc.'s Central Index Key is 0000048898.
What is the Standard Industrial Classification (SIC) code for Hubbell Inc.?
The SIC code listed is 3670 for Electronic Components & Accessories.
What is Hubbell Inc.'s fiscal year end?
Hubbell Inc.'s fiscal year ends on 1231.
Filing Stats: 4,587 words · 18 min read · ~15 pages · Grade level 8.9 · Accepted 2024-07-31 08:11:35
Key Financial Figures
- $0.01 — ch registered Common Stock - par value $0.01 per share HUBB New York Stock Exchange
Filing Documents
- hubb-20240630.htm (10-Q) — 1592KB
- hubb-20240630xex311.htm (EX-31.1) — 10KB
- hubb-20240630ex312.htm (EX-31.2) — 10KB
- hubb-20240630xex321.htm (EX-32.1) — 5KB
- hubb-20240630xex322.htm (EX-32.2) — 5KB
- hubb-20240630_g1.jpg (GRAPHIC) — 342KB
- 0001628280-24-033632.txt ( ) — 9833KB
- hubb-20240630.xsd (EX-101.SCH) — 54KB
- hubb-20240630_cal.xml (EX-101.CAL) — 95KB
- hubb-20240630_def.xml (EX-101.DEF) — 246KB
- hubb-20240630_lab.xml (EX-101.LAB) — 682KB
- hubb-20240630_pre.xml (EX-101.PRE) — 484KB
- hubb-20240630_htm.xml (XML) — 1610KB
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 ITEM 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 32 ITEM 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 48 ITEM 4
Controls and Procedures
Controls and Procedures 49 PART II 50 ITEM 1A
Risk Factors
Risk Factors 50 ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds 50 ITEM 5 Other information 50 ITEM 6 Exhibits 51
Signatures
Signatures 52 HUBBELL INCORPORATED - Form 10-Q 2 Back to Contents
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
Financial Statements
ITEM 1 Financial Statements Condensed Consolidated Statements of Income (unaudited) Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share amounts) 2024 2023 2024 2023 Net sales $ 1,452.5 $ 1,365.9 $ 2,851.6 $ 2,651.3 Cost of goods sold 943.8 869.7 1,895.2 1,706.8 Gross profit 508.7 496.2 956.4 944.5 Selling & administrative expenses 207.5 208.4 426.7 407.9 Operating income 301.2 287.8 529.7 536.6 Interest expense, net ( 19.8 ) ( 9.2 ) ( 40.9 ) ( 18.9 ) Loss on disposition of business — — ( 5.3 ) — Other expense, net ( 1.2 ) ( 4.8 ) ( 1.9 ) ( 8.9 ) Total other expense ( 21.0 ) ( 14.0 ) ( 48.1 ) ( 27.8 ) Income before income taxes 280.2 273.8 481.6 508.8 Provision for income taxes 65.0 65.6 117.3 117.2 Net income 215.2 208.2 364.3 391.6 Less: Net income attributable to noncontrolling interest ( 1.6 ) ( 1.4 ) ( 2.9 ) ( 2.9 ) Net income attributable to Hubbell Incorporated $ 213.6 $ 206.8 $ 361.4 $ 388.7 Earnings per share: Basic earnings per share $ 3.97 $ 3.85 $ 6.72 $ 7.24 Diluted earnings per share $ 3.94 $ 3.82 $ 6.67 $ 7.19 See notes to unaudited Condensed Consolidated Financial Statements. HUBBELL INCORPORATED - Form 10-Q 3 Back to Contents Condensed Consolidated Statements of Comprehensive Income (unaudited) Three Months Ended June 30, (in millions) 2024 2023 Net income $ 215.2 $ 208.2 Other comprehensive income (loss): Foreign currency translation adjustments ( 19.0 ) 5.4 Defined benefit pension and post-retirement plans, net of taxes of $( 0.6 ) and $( 0.6 ) 1.7 2.0 Unrealized gain (loss) on investments, net of taxes of $ 0.0 and $ 0.1 ( 0.1 ) ( 0.3 ) Unrealized gain (loss) on cash flow hedges, net of taxes of $( 0.1 ) and $ 0.2 0.1 ( 0.6 ) Other comprehensive income (loss) ( 17.3 ) 6.5 Comprehensive income 197.9 214.7 Less: Comprehensive income attributable to noncontrolling interest 1.6 1.4 Comprehensive income attributable to Hubbell Incorporated $ 196.3 $ 213.3 See notes to u