Earnings Per Share

12 Months Ended

Dec. 31, 2024

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):


	2024		2023		2022
Numerator:
Net income from continuing operations attributable to Hubbell Incorporated	$	777.8	$	759.8	$	511.3
Less: Earnings allocated to participating securities	(1.5)		(1.8)		(1.3)
Net income from continuing operations available to common shareholders	$	776.3	$	758.0	$	510.0

Net income from discontinued operations attributable to Hubbell Incorporated	$	—	$	—	$	34.6
Less: Earnings allocated to participating securities	—		—		(0.1)
Net income from discontinued operations available to common shareholders	$	—	$	—	$	34.5

Net income attributable to Hubbell Incorporated	$	777.8	$	759.8	$	545.9
Less: Earnings allocated to participating securities	(1.5)		(1.8)		(1.4)
Net income available to common shareholders	$	776.3	$	758.0	$	544.5

Denominator:
Average number of common shares outstanding	53.7		53.6		53.7
Potential dilutive shares	0.3		0.4		0.4
Average number of diluted shares outstanding	54.0		54.0		54.1

Basic earnings per share:
Basic earnings per share from continuing operations	$	14.46	$	14.14	$	9.49
Basic earnings per share from discontinued operations	—		—		0.64
Basic earnings per share	$	14.46	$	14.14	$	10.13

Diluted earnings per share:
Diluted earnings per share from continuing operations	$	14.37	$	14.05	$	9.43
Diluted earnings per share from discontinued operations	—		—		0.64
Diluted earnings per share	$	14.37	$	14.05	$	10.07

The Company did not have any material anti-dilutive securities in 2024, 2023 or 2022.