HUBBELL INC (HUBB) Form 10-Q — Oct 28, 2026
Hubbell reported Q3 2026 net sales of $1,872.5 million, up 24.6% year-over-year, with organic growth of 11.3% led by 22.0% organic growth in Electrical Solutions on datacenter, light industrial and utility demand. GAAP diluted EPS rose just 3.6% to $4.94, but adjusted EPS grew 13.6% to $5.92 and adjusted operating margin expanded 160bps to 25.5%, as acquisition amortization ($62.2M in the quarter) and higher interest expense masked underlying strength. The quarter reflects the first full period including NSI Industries, acquired June 9, 2026 for ~$3.0 billion, funded with a $900 million term loan, $1.9 billion of senior notes, and commercial paper.
Key figures
- Eps
- 4.94
- Guidance
- No updated guidance provided in the 10-Q
- Net Income
- 262500000
- Revenue Yoy
- 24.6% (Q3); 17.1% (9M)
- Cash Position
- 334500000
- Capex 9m
- 119800000
- Nsi goodwill
- $1,303.9 million
- Term loan 2025
- $600 million at 4.74% (SOFR-based), due September 29, 2028
- Term loan 2026
- $900 million at 4.81% (SOFR-based), due June 8, 2029
- Adjusted eps q3
- 5.92
- Gross margin q3
- 36.8%
- Nsi intangibles
- $1,856.0 million
- Dividends paid 9m
- 225400000
- Shares outstanding
- 52835035
- Diluted eps q3 2025
- 4.77
- Operating margin q3
- 21.8%
- Adjusted eps q3 2025
- 5.18
- Effective tax rate q3
- 23.4% vs 17.5%
- Nsi acquisition price
- $3.0 billion net of cash acquired
- Shares repurchased 9m
- 203500000
- Total debt to capital
- 55% vs 38%
- Operating cash flow 9m
- 659000000
- Ieepa tariff refunds q3
- $31 million recognized as reduction to COGS
- Net interest expense q3
- 58000000
- Organic sales growth 9m
- 9.9%
- Organic sales growth q3
- 11.3%
- Senior notes 2026 offering
- $1.9 billion aggregate ($500M 4.650% due 2031, $700M 4.900% due 2033, $700M 5.150% due 2036)
- Adjusted operating margin q3
- 25.5%
- Nsi contribution since close
- $197.9 million sales / $21.3 million operating income
- Interest expense yoy increase
- $44.4 million
- Share repurchase authorization remaining
- $298.2 million
AI analysis
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