Hubbell Stock

Hubbell Incorporated (Hubbell) operates as a manufacturer of electrical and utility solutions, with more than 75 brands used around the world.

The company provides utility and electrical solutions that enable its customers to operate critical infrastructure reliably and efficiently, and the company empowers and energizes 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 owner/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.

The company’s 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 (‘U.K.’), 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.

Segments

The company operates through two segments: Utility Solutions and Electrical Solutions.

Utility Solutions

Hubbell Utility Solutions has leading positions In Front of the Meter and at The Edge. The Utility Solutions segment (61% of consolidated revenues in 2023) consists of businesses that design, manufacture, and sell a wide variety of electrical distribution, transmission, substation, and telecommunications products, which support applications In Front of the Meter. This includes utility transmission & distribution (T&D) components, such as arresters, insulators, connectors, anchors, bushings, enclosures, cutouts, and switches. The Utility Solutions segment also offers solutions that serve The Edge of the utility infrastructure, including smart meters, communications systems, and protection and control devices. Hubbell Utility Solutions supports the electrical distribution, electrical transmission, water, gas distribution, telecommunications, and solar and wind markets.

On December 12, 2023, the company acquired Northern Star Holdings, Inc. (‘Systems Control’). Systems Control is a manufacturer of substation control and relay panels, as well as turnkey substation control building solutions. This acquisition enhances Hubbell Utility Solutions' industry-leading franchise across utility components, communications, and controls.

Products of the Utility Solutions segment are sold under the following brands and/or trademarks: Aclara, Chance, Anderson, PenCell, Fargo, Hubbell, Polycast, Opti-loop Design, Quazite, Quadri*sil, Trinetics, Reuel, Electro Composites, USCO, CDR, RFL Design, Hot Box, PCORE, Delmar, Turner Electric, EMC, Longbow, Ohio Brass, Meramec, Reliaguard, Greenjacket, Armorcast, Beckwith Electric, Continental, R.W. Lyall, Gas Breaker, AEC, Ripley, Electro Industries / Gauge Tech, and Systems Control.

Electrical Solutions

Hubbell Electrical Solutions is positioned Behind the Meter, providing key components to building operators and industrial customers that enable them to manage their energy and operate critical infrastructure more efficiently and effectively. The Electrical Solutions segment (39% of consolidated revenues in 2023) comprises businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, connector and grounding products, and lighting fixtures, as well as other electrical equipment.

Products of the Electrical Solutions segment have applications in the light industrial, non-residential, wireless communications, transportation, data center, and heavy industrial markets. Electrical Solutions segment products are typically used in and around industrial, commercial and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies. In addition, certain of the company’s businesses design and manufacture industrial controls and communication systems used in the non-residential and industrial markets. Many of these products are designed such that they can also be used in harsh and hazardous locations where a potential for fire and explosion exists due to the presence of flammable gasses and vapors. Harsh and hazardous products are primarily used in the oil and gas (onshore and offshore) and mining industries. The company also offers a variety of lighting fixtures, wiring devices and electrical products that have residential and utility applications, including residential products with Internet-of-Things (‘IoT’) enabled technologies.

In December 2023, the company entered into a definitive agreement to sell its residential lighting business. The residential lighting business sells indoor and outdoor lighting solutions. The transaction is expected to close in the first quarter of 2024.

Products of the Electrical Solutions segment are sold under various brands and/or trademarks and are primarily sold through electrical and industrial distributors, home centers, retail and hardware outlets, lighting showrooms and residential product oriented internet sites. Special application products are primarily sold through wholesale distributors to contractors, industrial customers and original equipment manufacturers (‘OEMs’). Brands and/or trademarks of products of the Electrical Solutions segment include Hubbell, Bell, Raco, Gleason Reel, ACME Electric, Kellems, TayMac, Hipotronics, Powerohm, EC&M Design, Bryant, Wiegmann, AccelTex Solutions, iDevices, Progress Lighting Design*, Burndy, Killark, GAI-Tronics, Connector Products, Austdac, CMC, Hawke, Chalmit, and PCX.

International Operations

The company has several operations located outside of the United States. These operations manufacture, assemble and/or procure and market Hubbell products and services for both the Utility Solutions and Electrical Solutions segments.

Customers

The company has an extensive customer base of distributors, wholesalers, electric utilities, OEMs, electrical contractors, telecommunications companies, and retail and hardware outlets.

Patents

Hubbell has approximately 3,100 active United States and foreign patents covering a portion of its products, which expire at various times.

History

Hubbell Incorporated was founded as a proprietorship in 1888. The company was incorporated in Connecticut in 1905.