Hubbell B (HUBB) Q3 2026 Earnings Report
MX:HUBB Q3 2026 EPS Results
- Actual EPS
- MXN 110.30
- Consensus EPS
- MXN 107.37
- Beat/Miss
- Beat by +MXN 2.93
- One Year Ago EPS
- MXN 96.49
MX:HUBB Q3 2026 Revenue Results
- Actual Revenue
- MXN 34.95B
- Expected Revenue
- MXN 34.47B
- Beat/Miss
- Beat by +MXN 475.65M
- YoY Revenue Growth
- +24.63%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- Before Open
- Conference Call
- Tuesday, October 27, 2026
Hubbell B's next earnings date is estimated for February 2, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive. Highlights significantly outweighed the lowlights, with record or strong growth across sales, profitability, Electrical Solutions, data centers, backlog, and cash flow. Management raised 2026 guidance and expressed confidence in 2027 demand, while the main challenges were described as temporary component availability, slower substation control-house capacity ramping, persistent inflation, and expected fourth-quarter Utility margin pressure.
For 2026, Hubbell raised sales growth guidance to +18% to 19%, including organic growth of 10%-11% and an NSI contribution of approximately 7.5% to full-year sales growth; Electrical Solutions is expected to grow 17%-18% organically and Utility Solutions +6% to 7%, while adjusted operating profit is expected to grow over 20% year-over-year at the midpoint, adjusted operating margin is expected to be 23.0%-23.2%, free cash flow conversion is expected to be approximately 90%, and adjusted earnings per share guidance is $20.40-$20.60, representing year-over-year earnings growth of 12%-13%. For 2027, management said organic growth is expected to be at least our mid-single digit standing long-term framework, PCP is anticipated to be neutral to dollar positive, incrementals are expected to be in line with the long-term algo at 25%-30%, backlog build in transmission and substation project activity was in excess of $500 million year to date, approximately 20% of the portfolio exposed to gas, telecoms, and meters and AMI is expected to have more modest growth, and capacity coming online is expected to increase from about $25 million a quarter this year to about $50 million per quarter next year.
- Strong Third-Quarter Financial PerformanceNet sales increased 25% year over year to $1.873 billion. Adjusted operating profit rose 33% to $477 million, adjusted operating margin expanded 160 basis points to 25.5%, adjusted diluted EPS increased 14% to $5.91, and free cash flow rose 10% to $280 million. Double-digit growth was also reported on a year-to-date basis across sales, adjusted operating profit, adjusted EPS, and free cash flow.
- Electrical Solutions Delivered Robust GrowthElectrical Solutions generated $845 million of sales, up 51% year over year, including 22% organic growth and a 29-point contribution from NSI. Adjusted operating profit increased 80% to $210 million, while adjusted operating margin expanded 400 basis points to 24.8%.
- Data Center Momentum Remained StrongData center sales increased more than 80% organically in the third quarter, driven by content gains, new product introductions, and capacity additions. Wiring device and pin-and-sleeve product lines accelerated data center penetration, and the company expects data center revenue to represent approximately 15% of Electrical Solutions revenue exiting 2026.
- NSI Acquisition Performing Ahead of ExpectationsThe NSI acquisition was described as off to a strong start, with performance and integration efforts trending ahead of initial expectations. NSI contributed 29 points to Electrical Solutions revenue growth in the third quarter and was accretive to adjusted operating margins.
- Utility Solutions Delivered Solid GrowthUtility Solutions sales increased 9%, consisting of 5% organic growth and four points from the DMC Power acquisition. Adjusted operating profit rose 10% to $267 million, and adjusted operating margin increased 30 basis points year over year. DMC Power's performance will be included in organic growth starting in the fourth quarter of 2026.
- Grid Infrastructure Demand and Backlog StrengthGrid Infrastructure organic growth was 8% in the third quarter, led by distribution and transmission markets. Broad-based orders across substation, transmission, and distribution drove further backlog growth. Transmission and substation project activity contributed to more than $500 million of year-to-date backlog build, approximately 30% above the beginning-of-year level.
- Protection and Controls GrowthProtection and Controls delivered strong double-digit growth in the quarter, led by continued strength in substation switching products. Project interconnections related to load growth and recent capacity expansion investments supported performance.
- Price and Productivity Actions Offset Cost PressurePrice-cost productivity was approximately neutral on a dollar basis in the third quarter, including the net impact of IEEPA tariff refunds. Higher cost inflation and raw material costs in both Utility Solutions and Electrical Solutions were largely offset by price realization, productivity, and net tariff benefits.
- Full-Year 2026 Outlook RaisedThe company raised its 2026 sales growth outlook to 18%-19%, including organic growth of 10%-11% and an approximately 7.5% contribution from NSI. Electrical Solutions organic growth is now expected at 17%-18%, while Utility Solutions is expected to grow 6%-7%. Adjusted operating profit is expected to grow over 20% at the midpoint, adjusted operating margin is expected to be 23.0%-23.2%, and adjusted EPS guidance was raised to $20.40-$20.60, representing 12%-13% year-over-year earnings growth.
- Healthy Free Cash Flow and Balance SheetThe company continues to anticipate approximately 90% conversion of free cash flow to adjusted net income for the full year, despite increased capital expenditures, acquisition costs, and working capital investments. Management described the balance sheet as healthy and remains committed to deleveraging over the next two years.
- Attractive 2027 Growth SetupManagement expects 2027 organic growth to be at least its mid-single-digit long-term framework, supported by stronger-than-typical backlog visibility, order trends, and customer discussions. Price-cost productivity is anticipated to be neutral to dollar positive, with incrementals in line with the long-term algorithm of 25%-30%.
- Utility End-Market Investment CycleManagement continues to see broad-based strength across distribution, substation, and transmission markets, driven by aging infrastructure, load growth, and data center interconnections. The company believes utility transmission and distribution markets are in the early stages of a multi-year investment cycle.
- Capacity Expansion InvestmentsThe company is adding machines, assembly lines, and factory roof-line extensions to serve demand in transmission, substation, data center, and other high-growth markets. Additional capacity coming online was approximately $25 million per quarter in 2026 and is expected to increase to approximately $50 million per quarter in 2027. Management described the returns on these projects as the highest among its investments.
- Progress in 765 kV Transmission ProductsThe company has won a 765 kV transmission project expected to begin shipping toward the end of 2026 and into 2027. Management said the project pipeline is growing and that products are being specified with customers, while design and testing investments are progressing.
- Electrical Solutions Margin Expansion ProgramManagement expects Electrical Solutions to continue expanding margins in 2027 and beyond through segment unification, a broader commercial strategy, portfolio management, business simplification, management delayering and consolidation, and new product introductions.
- Broad Commercial and Industrial TailwindsOutside data centers, light industrial markets remained strong, supported by U.S. manufacturing activity. Electric T&D and renewable markets also grew strongly, while electrification, U.S. reshoring, and data center construction were cited as tailwinds across the broader industrial economy.
- Aclara Business RestructuringThe company has refocused Aclara on electric meters, municipal and cooperative AMI activity, and the installed base of FLUX, while taking structural cost out of the business. Management expects more modest growth, improved margins, and less volatility; Aclara is expected to represent less than 10% of HUS revenue exiting 2026.
MX:HUBB Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 02, 2027 | 2026 (Q4) | 97.44- | 88.27 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 107.37110.30 | 96.49 | 14.31% (+13.81) | |
| Jul 28, 2026 | 2026 (Q2) | 100.50103.02 | 92.01 | 11.97% (+11.01) | |
| Apr 30, 2026 | 2026 (Q1) | 72.1773.34 | 65.32 | 12.29% (+8.02) | |
| Feb 03, 2026 | 2025 (Q4) | 87.9888.27 | 76.52 | 15.37% (+11.76) | |
| Oct 28, 2025 | 2025 (Q3) | 94.1296.49 | 83.8 | 15.14% (+12.69) | |
| Jul 29, 2025 | 2025 (Q2) | 82.6492.01 | 81.56 | 12.81% (+10.45) | |
| May 01, 2025 | 2025 (Q1) | 69.0165.32 | 67.19 | -2.78% (-1.87) | |
| Feb 04, 2025 | 2024 (Q4) | 74.9776.52 | 68.87 | 11.11% (+7.65) | |
| Oct 29, 2024 | 2024 (Q3) | 83.2483.80 | 73.72 | 13.67% (+10.08) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.