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Hubbell Inc Stock Quote HUBB

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Morningstar's Hubbell Inc Stock Analysis

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Hubbell Continues to Exhibit Strong Growth and Pricing Power; We Raise Our Fair Value Estimate by 4%

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

After receiving narrow-moat Hubbell’s second-quarter results, we raise our fair value estimate to $214 from $206, primarily on raised guidance that appears conservative. We believe Hubbell is well positioned to continue outpacing growth in its end markets. Further, we think its robust pricing power, without corresponding loss of volume, indicates strong demand for Hubbell’s products and services. For instance, power systems managed to increase price by the midteens and volumes in the high single digits. Management raised Hubbell’s midpoint 2022 adjusted EPS guidance to $9.60 and raised its organic revenue growth guidance to 13%-15%.

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Key Statistics - HUBB

Company Profile - HUBB

Business Description

Hubbell is a diversified conglomerate industrial company that mostly competes in the electrical components market. Its products and services serve vital portions of the U.S. electrical supply chain, including transmission and distribution as well as the commercial, industrial, and residential end markets. The company organizes its business into two segments--electrical and power systems. The consolidated business sells about two thirds of its products via distributors, with the remainder sold via direct sales to utilities and contractors. The 2018 acquisition of Aclara, folded into the utility solutions segment, brought Hubbell a portfolio of smart meters and communication sensors that serves electrical, water, and gas utilities.

40 Waterview Drive
Shelton, CT, 06484
T +1 475 882-4000
Industry Electrical Equipment & Parts
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Slow Growth
Employees 15,900

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