Hubbell Inc. Files Q3 2024 10-Q
Ticker: HUBB · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 48898
| Field | Detail |
|---|---|
| Company | Hubbell Inc (HUBB) |
| Form Type | 10-Q |
| Filed Date | Oct 30, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Hubbell's Q3 10-Q is in - check financials for latest performance.
AI Summary
Hubbell Inc. reported its third-quarter results for the period ending September 30, 2024. The company's financial statements indicate various financial activities and balances, including current debt and accounts payable, though specific dollar amounts and revenue figures for the quarter are not detailed in this excerpt.
Why It Matters
This filing provides a snapshot of Hubbell Inc.'s financial health and operational status as of the end of the third quarter of 2024, crucial for investors assessing the company's performance.
Risk Assessment
Risk Level: low — This is a routine quarterly filing (10-Q) that primarily contains financial data and disclosures, not typically indicative of immediate high risk.
Key Numbers
- N/A — Revenue (Specific revenue figures for Q3 2024 are not detailed in this excerpt.)
- N/A — Net Income (Specific net income figures for Q3 2024 are not detailed in this excerpt.)
- N/A — Earnings Per Share (Specific EPS figures for Q3 2024 are not detailed in this excerpt.)
Key Players & Entities
- HUBBELL INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241030 (date) — Filing Date
- 0000048898 (company) — Central Index Key
FAQ
What were Hubbell Inc.'s total assets as of September 30, 2024?
The provided excerpt does not detail total assets for September 30, 2024.
What is the reported amount of current debt for Hubbell Inc. as of September 30, 2024?
The excerpt references 'DebtCurrent' but does not provide a specific dollar amount for September 30, 2024.
What was the company's revenue for the three months ended September 30, 2024?
This specific filing excerpt does not contain the revenue figures for the three months ended September 30, 2024.
What were the accounts payable as of September 30, 2024?
The excerpt mentions 'AccountsPayableCurrent' but does not provide a specific dollar amount for September 30, 2024.
What is the company's fiscal year end?
Hubbell Inc.'s fiscal year ends on December 31.
Filing Stats: 4,568 words · 18 min read · ~15 pages · Grade level 9.1 · Accepted 2024-10-30 08:09:22
Key Financial Figures
- $0.01 — ch registered Common Stock - par value $0.01 per share HUBB New York Stock Exchange
Filing Documents
- hubb-20240930.htm (10-Q) — 1587KB
- hubb-20240930xex311.htm (EX-31.1) — 10KB
- hubb-20240930xex312.htm (EX-31.2) — 10KB
- hubb-20240930xex321.htm (EX-32.1) — 5KB
- hubb-20240930xex322.htm (EX-32.2) — 5KB
- hubb-20240930_g1.jpg (GRAPHIC) — 342KB
- 0001628280-24-044201.txt ( ) — 9793KB
- hubb-20240930.xsd (EX-101.SCH) — 54KB
- hubb-20240930_cal.xml (EX-101.CAL) — 94KB
- hubb-20240930_def.xml (EX-101.DEF) — 244KB
- hubb-20240930_lab.xml (EX-101.LAB) — 681KB
- hubb-20240930_pre.xml (EX-101.PRE) — 483KB
- hubb-20240930_htm.xml (XML) — 1596KB
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 31 ITEM 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 47 ITEM 4
Controls and Procedures
Controls and Procedures 48 PART II 49 ITEM 1A
Risk Factors
Risk Factors 49 ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds 49 ITEM 5 Other information 49 ITEM 6 Exhibits 50
Signatures
Signatures 51 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 September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2024 2023 2024 2023 Net sales $ 1,442.6 $ 1,375.8 $ 4,294.2 $ 4,027.1 Cost of goods sold 945.5 888.4 2,840.7 2,595.2 Gross profit 497.1 487.4 1,453.5 1,431.9 Selling & administrative expenses 193.3 211.1 620.0 619.0 Operating income 303.8 276.3 833.5 812.9 Interest expense, net ( 18.7 ) ( 7.8 ) ( 59.6 ) ( 26.7 ) Loss on disposition of business — — ( 5.3 ) — Other expense, net ( 5.6 ) ( 3.5 ) ( 7.5 ) ( 12.4 ) Total other expense ( 24.3 ) ( 11.3 ) ( 72.4 ) ( 39.1 ) Income before income taxes 279.5 265.0 761.1 773.8 Provision for income taxes 58.5 63.0 175.8 180.2 Net income 221.0 202.0 585.3 593.6 Less: Net income attributable to noncontrolling interest ( 1.6 ) ( 1.9 ) ( 4.5 ) ( 4.8 ) Net income attributable to Hubbell Incorporated $ 219.4 $ 200.1 $ 580.8 $ 588.8 Earnings per share: Basic earnings per share $ 4.08 $ 3.72 $ 10.80 $ 10.96 Diluted earnings per share $ 4.05 $ 3.70 $ 10.73 $ 10.89 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 September 30, (in millions) 2024 2023 Net income $ 221.0 $ 202.0 Other comprehensive income (loss): Foreign currency translation adjustments 17.7 ( 12.8 ) Defined benefit pension and post-retirement plans, net of taxes of $( 0.6 ) and $( 0.7 ) 1.9 1.9 Unrealized gain (loss) on investments, net of taxes of $( 0.2 ) and $ 0.1 0.8 ( 0.3 ) Unrealized gain (loss) on cash flow hedges, net of taxes of $ 0.1 and $( 0.1 ) ( 0.4 ) 0.4 Other comprehensive income (loss) 20.0 ( 10.8 ) Comprehensive income 241.0 191.2 Less: Comprehensive income attributable to noncontrolling interest 1.6 1.9 Comprehensive income attributable to Hubbell Incorporated $ 239.