hubb-20260331

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•whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes

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•whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes

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•whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer

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Accelerated filer

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Non-accelerated filer

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Smaller reporting company

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Emerging growth company

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act. ☐

•whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes

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	Three Months Ended March 31,
(in millions, except per share amounts)	2026		2025
Net sales	$	1,516.7	$	1,365.2
Cost of goods sold	1,011.4		922.6
Gross profit	505.3		442.6
Selling & administrative expenses	241.5		212.2
Operating income	263.8		230.4
Interest expense, net	(22.0)		(13.8)



Other expense, net	(5.4)		(5.3)
Total other expense, net	(27.4)		(19.1)
Income before income taxes	236.4		211.3
Provision for income taxes	53.4		46.8
Net income	183.0		164.5
Less: Net income attributable to noncontrolling interest	(1.2)		(1.3)
Net income attributable to Hubbell Incorporated	$	181.8	$	163.2

Earnings per share:
Basic earnings per share	$	3.42	$	3.04
Diluted earnings per share	$	3.41	$	3.03


	Three Months Ended March 31,
(in millions)	2026		2025
Net income	$	183.0	$	164.5
Other comprehensive income (loss):

Foreign currency translation adjustments	(1.1)		17.3

Defined benefit pension and post-retirement plans, net of taxes of $(1.0) and $(0.7)	1.4		2.4
Unrealized (loss) gain on investments, net of taxes of $0.1 and $(0.1)	(0.3)		0.2
Unrealized gain (loss) on cash flow hedges, net of taxes of $(0.2) and $0.1	0.6		(0.4)
Other comprehensive income	0.6		19.5
Comprehensive income	183.6		184.0
Less: Comprehensive income attributable to noncontrolling interest	1.2		1.3
Comprehensive income attributable to Hubbell Incorporated	$	182.4	$	182.7


(in millions)	March 31, 2026		December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents	$	501.6	$	482.5
Short-term investments	15.3		15.4
Accounts receivable (net of allowances of $14.3 and $13.9)	974.4		856.9
Inventories, net	1,139.5		1,083.8
Other current assets	171.6		155.4

Total Current Assets	2,802.4		2,594.0
Property, Plant, and Equipment, net	843.4		841.2
Other Assets
Investments	99.8		98.4
Goodwill	3,059.6		3,060.8
Other intangible assets, net	1,366.2		1,394.3
Other long-term assets	246.3		240.1

TOTAL ASSETS	$	8,417.7	$	8,228.8
LIABILITIES AND EQUITY
Current Liabilities
Short-term debt	$	536.0	$	289.1
Accounts payable	605.5		570.5
Accrued salaries, wages and employee benefits	90.6		115.4
Accrued insurance	89.8		83.0
Other accrued liabilities	453.1		450.7

Total Current Liabilities	1,775.0		1,508.7
Long-Term Debt	2,037.0		2,036.3
Other Non-Current Liabilities	826.5		825.9

TOTAL LIABILITIES	4,638.5		4,370.9





Commitments and contingencies (Note 15)
Hubbell Incorporated Shareholders’ Equity	3,768.6		3,847.9
Noncontrolling interest	10.6		10.0
TOTAL EQUITY	3,779.2		3,857.9
TOTAL LIABILITIES AND EQUITY	$	8,417.7	$	8,228.8


	Three Months Ended March 31,
(in millions)	2026		2025
Cash Flows from Operating Activities
Net income	$	183.0	$	164.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	60.2		46.9
Deferred income taxes	(3.0)		0.6
Stock-based compensation	14.4		14.4




Loss on sale of assets	0.5		0.2
Changes in assets and liabilities, excluding effects of acquisitions:
Increase in accounts receivable, net	(117.8)		(142.7)
(Increase) decrease in inventories, net	(61.2)		7.7
Increase (decrease) in accounts payable	43.3		(1.1)
Decrease in current liabilities	(25.7)		(22.7)
Changes in other assets and liabilities, net	(6.5)		(11.1)
Contribution to qualified defined benefit pension plans	—		(20.0)
Other, net	(0.6)		0.7
Net cash provided by operating activities	86.6		37.4
Cash Flows from Investing Activities
Capital expenditures	(40.6)		(26.0)
Acquisitions, net of cash acquired	2.4		(73.3)

Purchases of available-for-sale investments	(5.1)		(3.9)
Proceeds from available-for-sale investments	1.4		3.9
Other, net	0.6		—
Net cash used in investing activities	(41.3)		(99.3)
Cash Flows from Financing Activities



Borrowing of short-term debt, net	246.9		291.3
Payment of dividends	(75.4)		(70.7)


Acquisition of common shares	(167.5)		(125.0)
Other, net	(27.4)		(20.6)
Net cash (used in) provided by financing activities	(23.4)		75.0
Effect of exchange rate changes on cash and cash equivalents	(2.7)		4.1
Increase in cash and cash equivalents	19.2		17.2
Cash and cash equivalents, beginning of year	482.5		329.1

Restricted cash, included in other assets, beginning of year	1.8		2.5
Less: Restricted cash, included in Other Assets	1.9		1.9

Cash and cash equivalents, end of period	$	501.6	$	346.9

Hubbell is a global manufacturer of quality electrical products and utility solutions for a broad range of customer and end market applications. We provide utility and electrical solutions that enable our customers to operate critical infrastructure reliably and efficiently, and we empower and energize 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 buildings, and other critical infrastructure consume energy. Products are either sourced complete, manufactured or assembled by subsidiaries in the United States, Canada, Puerto Rico, Mexico, China, the UK, Brazil, Australia, Spain, and the Republic of the Philippines. The Company 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. The Company employed approximately 18,200 individuals worldwide as of March 31, 2026.

Our strategy to deliver products through a competitive cost structure has resulted in an ongoing program of restructuring and related activities. Our restructuring and related efforts include the consolidation of manufacturing and distribution facilities, and workforce actions, as well as streamlining and consolidating our back-office functions. The primary objectives of our restructuring and related activities are to optimize our manufacturing footprint, cost structure, and effectiveness and the efficiency of our workforce.

Our goal is to have pricing and productivity programs that offset the impact of cost increases as well as pay for investments in key growth areas. Our cost structure may be subject to material and production cost increases from inflationary periods within the U.S. and global economies, and from trade and other tensions. In particular, we have been subject to recent periods of inflationary pressure in the global economy and also subject to cost increases as a result of tariff and other material cost increases from trade actions taken by the United States and other countries, as well as increasing energy costs. Because material costs are approximately half of our cost of goods sold, volatility in this area can significantly impact profitability. Our pricing and productivity programs are intended to mitigate the risk to our operating margins related to these inflationary pressures and cost increases as a result of tariffs. For additional information, please refer to the risk factor titled; "Changes in U.S. and international trade policies may adversely impact our business and operating results; changes in U.S. trade policies could have a material adverse effect on us," which is contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

Our sales are subject to market conditions that may cause customer demand for our products to be volatile. Product demand can be affected by fluctuations in domestic and international economic conditions, as well as currency fluctuations, commodity costs, and a variety of other factors. Although inflation has generally moderated since its high point in 2022, we continue to be affected by ongoing inflationary pressures. We could also be affected by additional inflationary pressures resulting from energy market and other disruptive conditions resulting from ongoing hostilities in the Middle East. Accordingly, there can be no assurance that we will be able to maintain our margins in response to further changes in inflationary pressures.

The following is a discussion and analysis of our business, financial condition and results of operations as of and for the three months ended March 31, 2026 and 2025. This discussion and analysis should be read in conjunction with our Condensed Consolidated Financial Statements and notes thereto in Item 1 of this Quarterly Report on Form 10-Q (the “Condensed Financial Statements”), and the audited consolidated financial statements, accompanying notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

Operating margin in the first quarter of 2026 expanded by 50 basis points to 17.4% and includes the effect of amortization of acquisition-related intangibles and transaction, integration and separation costs. Adjusted operating margin, which excludes amortization of acquisition-related intangibles and transaction, integration and separation costs, was 19.8% and expanded by 110 basis points. That result includes margin expansion in the quarter, primarily driven by favorable price realization, and benefits from operational productivity and higher unit volume, that was partially offset by margin contraction from material and other cost inflation, including tariff expense. See the further discussion within Segment Results below.

On February 20, 2026, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Power Act ("IEEPA") exceeded presidential authority and were therefore invalid. The IEEPA tariffs were immediately replaced with tariffs under alternative statutory authority, although the scope and duration of future tariffs remain uncertain. We may be entitled to refunds of IEEPA tariffs, though the process and timing for obtaining such refunds remain uncertain. As of March 31, 2026, we have not recorded any impact for potential recovery of IEEPA tariff-related costs as refunds are uncertain.


	Three Months Ended March 31,
	2026		% of Net sales		2025		% of Net sales
Net sales	$	1,516.7			$	1,365.2
Cost of goods sold	1,011.4		66.7	%	922.6		67.6	%
Gross profit	505.3		33.3	%	442.6		32.4	%
Selling & administrative (“S&A”) expense	241.5		15.9	%	212.2		15.5	%
Operating income	263.8		17.4	%	230.4		16.9	%
Net income	183.0		12.1	%	164.5		12.1	%
Less: Net income attributable to non-controlling interest	(1.2)		(0.1)	%	(1.3)		(0.1)	%
Net income attributable to Hubbell Incorporated	181.8		12.0	%	163.2		12.0	%
Less: Earnings allocated to participating securities	(0.2)				(0.3)
Net income available to common shareholders	$	181.6			$	162.9
Average number of diluted shares outstanding	53.3				53.8
DILUTED EARNINGS PER SHARE	$	3.41			$	3.03

In the following discussion of results of operations, we refer to “adjusted” operating measures. We believe those adjusted measures, which exclude the impact of certain costs, gains and losses, may provide investors with useful information regarding our underlying performance from period to period and allow investors to understand our results of operations without regard to items that, in management's judgment, significantly affect the comparability of operating results, or we do not consider a component of our core operating performance.

The acquisition and integration of DMC Power resulted in significant transaction and integration costs, and the acquisitions and disposition completed by the Company in the fourth quarter of 2023 resulted in a significant increase in transaction, integration and separation costs. As a result, we believe excluding such costs relating to these transactions provides useful and more comparable information for investors to better assess our operating performance from period to period.

Adjusted operating measures also exclude non-cash amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization associated with those acquisitions. The intangible assets associated with our business acquisitions arise from the allocation of the purchase price using the acquisition method of accounting in accordance with Accounting Standards Codification 805, “Business Combinations.” These assets consist primarily of customer relationships, developed technology, trademarks and tradenames, and patents, as reported in Note 6 – Goodwill and Other Intangible Assets, under the heading “Total Definite-Lived Intangibles,” within the Company’s audited Consolidated Financial Statements set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

The Company believes that the exclusion of these non-cash expenses (i) enhances management’s and investors’ ability to analyze underlying business performance, (ii) facilitates comparisons of our financial results over multiple periods, and (iii) provides more relevant comparisons of our results with the results of other companies as the amortization expense associated with these assets may fluctuate significantly from period to period based on the timing, size, nature, and number of acquisitions. Although we exclude amortization of these acquired intangible assets and inventory step-up from our non-GAAP results, we believe that it is important for investors to understand that revenue generated, in part, from such intangibles is included within revenue in determining adjusted net income attributable to Hubbell Incorporated.

Organic net sales (or organic net sales growth), a non-GAAP measure, represents Net sales according to U.S. GAAP, less Net sales from acquisitions and divestitures during the first twelve months of ownership or divestiture, respectively, less the effect of fluctuations in Net sales from foreign currency exchange. The period-over-period effect of fluctuations in Net sales from foreign currency exchange is calculated as the difference between local currency Net sales of the prior period translated at the current period exchange rate as compared to the same local currency Net sales translated at the prior period exchange rate. We believe this measure provides management and investors with a more complete understanding of the underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and foreign currency as these activities can obscure underlying trends. When comparing Net sales growth between periods, excluding the effects of acquisitions, business dispositions and currency exchange rates, those effects are different when comparing results for different periods. For example, because Net sales from acquisitions are considered inorganic from the date we complete an acquisition through the end of the first year following the acquisition, Net sales from such acquisitions are reflected as organic net sales thereafter.

There are limitations to the use of non-GAAP measures. Non-GAAP measures do not present complete financial results. We compensate for this limitation by providing a reconciliation between our non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported GAAP financial results, and should be viewed in conjunction with the most comparable GAAP financial measures and the provided reconciliations thereto. We believe, however, that these non-GAAP financial measures, when viewed together with our GAAP results and related reconciliations, provide a more complete understanding of our business. We strongly encourage investors to review our condensed consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.


	Three Months Ended March 31,
	2026		% of Net sales			2025		% of Net sales
Operating income (GAAP measure)	$	263.8	17.4		%	$	230.4	16.9		%
Amortization of acquisition-related intangible assets	33.4		2.2		%	24.7		1.8		%

Transaction, integration & separation costs	3.5		0.2		%	0.4		—		%
Adjusted operating income (non-GAAP measure)	$	300.7	19.8		%	$	255.5	18.7		%






The following table reconciles Adjusted net income attributable to Hubbell Incorporated, Adjusted net income available to common shareholders, and the diluted per share amounts thereof, each a non-GAAP measure, to the directly comparable GAAP financial measures (in millions, except per share data).


	Three Months Ended March 31,
	2026		Diluted Per Share			2025		Diluted Per Share
Net income attributable to Hubbell Incorporated (GAAP measure)	$	181.8	$	3.41		$	163.2	$	3.03
Amortization of acquisition-related intangible assets	33.4		0.63			24.7		0.46


Transaction, integration & separation costs	3.5		0.07			0.4		0.01

Subtotal	$	218.7	$	4.11		$	188.3	$	3.50
Income tax effects(1)	8.8		0.17			5.9		0.11
Adjusted net income attributable to Hubbell Incorporated (non-GAAP measure)	$	209.9	$	3.94		$	182.4	$	3.39
Less: Earnings allocated to participating securities	(0.3)		(0.01)			(0.3)		(0.01)
Adjusted net income available to common shareholders (non-GAAP measure)	$	209.6	$	3.93		$	182.1	$	3.38

Net sales of $1,516.7 million in the first quarter of 2026 increased by $151.5 million compared to the first quarter of 2025. Organic net sales increased by 8.2% driven by a mid single digit percentage increase in price and a mid single digit increase in volumes. Net sales increased 2.3% due to acquisitions, while foreign exchange resulted in a 0.6% increase in net sales. These changes are discussed in more detail in the Segment Results section below.

As a percentage of Net sales, cost of goods sold decreased by 90 basis points to 66.7% in the first quarter of 2026, resulting in gross profit margin expanding to 33.3%. Approximately seven percentage points of gross profit margin expansion were driven by favorable price realization, improved operational productivity and higher volume, partially offset by six percentage points of gross profit margin contraction due to material and other cost inflation, including tariff expense and higher intangible amortization expense.

S&A expense in the first quarter of 2026 was $241.5 million and increased by $29.3 million or 13.8% compared to the prior year period. This increase was driven by higher acquisition-related intangible amortization expense, higher transaction and integration costs and the selling and administration expense added by our 2025 acquisitions, as well as higher employee compensation and benefits, in the current year compared to the prior year period. S&A expense as a percentage of Net sales was 15.9% in the first quarter of 2026, compared to 15.5% in the first quarter of 2025.

Net income attributable to Hubbell Incorporated was $181.8 million in the first quarter of 2026 and increased 11.4% as compared to the same period of the prior year, reflecting the factors described above. As a result, earnings per diluted share in the first quarter of 2026 increased 12.5% as compared to the first quarter of 2025. Adjusted net income attributable to Hubbell Incorporated, which excludes amortization of acquisition-related intangible assets and transaction, integration & separation costs for both periods, was $209.9 million in the first quarter of 2026 and increased by 15.1% as compared to the first quarter of 2025.

Net sales in the Utility Solutions segment in the first quarter of 2026 were $948.9 million, and increased by $91.8 million, or 10.7%, as compared to the first quarter of 2025. That increase was driven by a 6.8% increase in organic net sales, a 3.5% increase due to acquisitions and a 0.4% increase due to foreign exchange. The increase in organic net sales was driven by a mid single digit percentage increase in price realization and a low single digit increase in unit volume. Strong substation, transmission and distribution markets drove volume growth in the quarter, which was partially offset by a decrease in volume within Grid Automation products from weak advanced metering infrastructure and meter project activity compared to the prior year.

Operating income in the Utility Solutions segment for the first quarter of 2026 was $175.1 million, an increase of 16.1% compared to the first quarter of 2025. Operating margin increased by 90 basis points to 18.5% in the first quarter of 2026. Excluding amortization of acquisition-related intangible assets and transaction, integration & separation costs, the adjusted operating margin increased by 190 basis points to 21.8%. That increase includes approximately six percentage points of margin expansion due to favorable price realization, improved operational productivity, higher unit volumes and the impact of acquisitions. Those increases were partially offset by four percentage points of margin contraction due to material and other cost inflation, including tariff expense.

Net sales in the Electrical Solutions segment in the first quarter of 2026 were $567.8 million and increased by $59.7 million, or 11.8%, as compared to the first quarter of 2025. That increase includes 10.6% growth in organic net sales, a 0.9% increase due to foreign exchange and a 0.3% increase due to acquisitions. The increase in organic net sales was driven by a high single digit percentage increase due to price realization and a mid single digit percentage increase in unit volume. Volume growth in the first quarter of 2026 was driven primarily by strength in the datacenter and light industrial markets, partially offset by softness in the heavy industrial markets.

Operating income in the Electrical Solutions segment for the first quarter of 2026 was $88.7 million and increased by 11.4% compared to the first quarter of 2025, while operating margin in the first quarter of 2026 contracted by 10 basis points to 15.6%. Excluding amortization of acquisition-related intangibles and transaction, integration and separation costs, the adjusted operating margin contracted by 30 basis points to 16.4%. The decrease in operating margin was primarily due to approximately ten percentage points of margin contraction driven by higher material and other cost inflation, including tariff expense and higher restructuring investment. Those factors were partially offset by approximately ten percentage points of margin expansion due to higher price, improved operational productivity and favorable price realization.

Cash provided by operating activities for the three months ended March 31, 2026 was $86.6 million compared to cash provided by operating activities of $37.4 million for the same period in 2025. The increase in cash provided by operations is driven by higher net income on the increase in quarter over quarter operating results, higher non-cash depreciation and amortization expense in the first three months of 2026, and an increase of $20 million due to the timing of annual pension plan contributions.

During the first quarter of 2026, we invested $40.6 million in capital expenditures on capacity expansion, automation, productivity initiatives and maintenance, and we also continue to invest in restructuring and related programs to maintain a competitive cost structure, to drive operational efficiencies and to mitigate the impact of rising material costs and administrative cost inflation. We expect investments in restructuring and related activities to continue in 2026 as we continue to invest in previously initiated actions and initiatives, further footprint consolidation, and other cost reduction initiatives.

In connection with our restructuring and related actions, we have incurred restructuring costs as defined by U.S. GAAP, which are primarily severance and employee benefits, asset impairments, and accelerated depreciation, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. We also incurred restructuring-related costs, which are costs associated with our business transformation initiatives, including the consolidation of back-office functions and streamlining of our processes, and certain other costs and gains associated with restructuring actions. We refer to these costs on a combined basis as “restructuring and related costs”, which is a non-GAAP measure. We believe this non-GAAP measure provides investors with useful information regarding our underlying performance from period to period. Restructuring costs are predominantly settled in cash from our operating activities and are generally settled within one year, with the exception of asset impairments, which are non-cash.

On February 12, 2025, the Board of Directors approved a stock repurchase program (the “2025 Program”) that authorizes the repurchase of up to $500.0 million of common stock and expires in February 2028. In the first quarter of 2026 the Company repurchased $172.5 million of shares, for which $167.5 million of those repurchases had cash-settled by quarter end. At March 31, 2026, our remaining share repurchase authorization was $327.5 million. Subject to numerous factors, including market conditions and alternative uses of cash, we may conduct discretionary repurchases through open market or privately negotiated transactions, which may include repurchases under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended.

On September 29, 2025, the Company entered into a Term Loan Agreement (the "2025 Term Loan Agreement") with a syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent. On October 1, 2025, the Company borrowed $600 million under the 2025 Term Loan Agreement (the "2025 Term Loan") on an unsecured basis to finance the majority of the purchase price of the DMC Power acquisition. The 2025 Term Loan was made in a single borrowing and will be due and payable on September 29, 2028. The 2025 Term Loan bears interest based on the Term SOFR Rate (as defined in the 2025 Term Loan Agreement), plus an applicable interest addition based on Hubbell's credit ratings. The interest rate on the 2025 Term Loan as of March 31, 2026 was 4.66%. Hubbell also paid to the lenders certain customary fees in connection with the 2025 Term Loan Agreement.

On March 25, 2025, the Company, as borrower, and each foreign subsidiary borrower from time to time party thereto (collectively, the “Foreign Subsidiary Borrowers”) entered into a five-year credit agreement with a syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent, that provides for a $1.0 billion committed unsecured revolving credit facility (the “Revolving Credit Agreement”). The obligations of the Foreign Subsidiary Borrowers (if any) under the Revolving Credit Agreement are guaranteed by the Company.

On November 14, 2025, the Company completed a public offering of $400 million aggregate principal amount of its 4.800% Senior Notes due 2035 (the “2035 Notes”). The net proceeds from the offering were approximately $392.7 million after deducting the underwriting discount and estimated offering expenses payable by the Company. The 2035 Notes bear interest at a rate of 4.800% per annum from November 14, 2025. Interest on the 2035 Notes is payable semi-annually in arrears on May 15 and November 15 of each year, beginning on May 15, 2026. The 2035 Notes will mature on November 15, 2035.

We measure liquidity on the basis of our ability to meet short-term and long-term operational funding needs, to fund additional investments in our business, including acquisitions, and to make dividend payments to shareholders. Significant factors affecting the management of liquidity are cash flows from operating activities, capital expenditures, cash dividend payments, stock repurchases, access to bank lines of credit and our ability to attract long-term capital with satisfactory terms. In the first three months of 2026, we returned capital to our shareholders by paying $75.4 million of dividends on our common stock and using $167.5 million of cash for share repurchases.

We also require cash outlays to fund our operations, capital expenditures, and working capital requirements to accommodate anticipated levels of business activity, as well as our rate of cash dividends, and potential future acquisitions. We have contractual obligations for long-term debt, operating leases, purchase obligations, and certain other long-term liabilities that are summarized in the Financial Condition, Liquidity and Capital Resources section in our Annual Report on Form 10-K for the year ended December 31, 2025.

◦Our Revolving Credit Agreement provides a $1.0 billion committed revolving credit facility and commitments under the Revolving Credit Agreement may be increased (subject to certain conditions) to an aggregate amount not to exceed $1.5 billion. Annual commitment fees to support availability under the Revolving Credit Agreement are not material. Although not the principal source of liquidity, we believe our Revolving Credit Agreement is capable of providing significant financing flexibility at reasonable rates of interest and is an attractive alternative source of funding in the event that commercial paper markets experience disruption. However, an increase in usage of the Revolving Credit Agreement related to growth or a significant deterioration in the results of our operations or cash flows could cause our borrowing costs to increase and/or our ability to borrow could be restricted. We have not entered into any guarantees that could give rise to material unexpected cash requirements. The full $1.0 billion of borrowing capacity under the Revolving Credit Agreement was available to the Company at March 31, 2026.

A summary of our critical accounting estimates is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the year ended December 31, 2025. We are required to make estimates and judgments in the preparation of our financial statements that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures. We continually review these estimates and their underlying assumptions to ensure they are appropriate for the circumstances. Changes in the estimates and assumptions we use could have a material impact on our financial results. During the three months ended March 31, 2026, there were no material changes in our estimates and critical accounting policies.

Some of the information included in this Management’s Discussion and Analysis of Financial Condition and Results of Operations, and elsewhere in this Form 10-Q, contain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. These statements generally relate to our expectations and beliefs regarding our financial results, condition and outlook, projections of future performance, anticipated growth and end markets, changes in operating results, market conditions and economic conditions, expected capital resources, liquidity, financial performance, pension funding, results of operations, plans, strategies, opportunities, developments and productivity initiatives, competitive positioning, and trends in particular markets or industries. In addition, all statements regarding the expected financial impact of the integration of acquisitions, adoption of updated accounting standards and any expected effects of such adoption, and intent to continue repurchasing shares of common stock, as well as other statements that are not strictly historic in nature, are forward-looking. Forward-looking statements may be identified by the use of words, such as “believe”, “expect”, “anticipate”, “intend”, “depend”, “should”, “plan”, “estimated”, “predict”, “could”, “may”, “subject to”, “continues”, “growing”, “prospective”, “forecast”, “projected”, “purport”, “might”, “if”, “contemplate”, “potential”, “pending,” “target”, “goals”, “scheduled”, “will”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors, which may cause actual and future performance or the Company's achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to:

•Impact of and substantial uncertainty regarding the duration of existing and newly announced trade tariffs, import quotas or other trade actions, restrictions or measures taken by the United States, China, Mexico, the United Kingdom, member states of the European Union, and other countries, including the recent and ongoing potential changes in U.S. trade policies, that may be made by the current or a future presidential administration and changes in trade policies in other countries made in response to changes in the U.S. trade policies.

•Ability to successfully manage and integrate acquired businesses, such as the acquisitions of Ventev, Nicor and DMC Power, as well as the failure to realize expected synergies and benefits anticipated when we make an acquisition due to potential adverse reactions or changes to business or employee relationships resulting from completion of the transaction, competitive responses to the transaction, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the acquired business, diversion of management's attention from ongoing business operations and opportunities, and litigation relating to the transaction.

•Other factors described in our Securities and Exchange Commission filings, including in the “Business”, “Risk Factors”, “Management's Discussion and Analysis of Financial Condition and Results of Operations”, and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in this report, where applicable.

In the operation of its business, the Company has exposures to fluctuating foreign currency exchange rates, availability of purchased finished goods and raw materials, changes in material prices, foreign sourcing issues, and changes in interest rates. There have been no significant changes in our exposure to these market risks during the three months ended March 31, 2026. For a complete discussion of the Company’s exposure to market risk, refer to Item 7A, “Quantitative and Qualitative Disclosures about Market Risk”, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized and reported within the time periods specified and that such information is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives.

Our management carried out an evaluation, with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the Company’s disclosure controls and procedures, as defined in Exchange Act Rules 13a-15(e) and 15d-15(e), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based upon that evaluation, each of the Chief Executive Officer and Chief Financial Officer concluded that, as of March 31, 2026, the Company’s disclosure controls and procedures were effective at the reasonable assurance level.

On February 12, 2025, the Board of Directors approved and announced a stock repurchase program (the “2025 Program”) that authorizes the repurchase of up to $500.0 million of common stock and expires in February 2028. In the first quarter of 2026 the Company repurchased $172.5 million of shares, for which $167.5 million of those repurchases had cash-settled by quarter end. At March 31, 2026, our remaining share repurchase authorization was $327.5 million. Subject to numerous factors, including market conditions and alternative uses of cash, we may conduct discretionary repurchases through open market or privately negotiated transactions, which may include repurchases under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended.


Period	Total Number of Shares of Common Stock Purchased (000s)(1)	Average Price Paid Per Share of Common Stock(1)		Approximate Value of Shares that May Yet be Purchased Under the Plans (in millions)		Total number of shares purchased as part of publicly announced plans (000s)
January 1, 2026 - January 31, 2026	—	$	—	$	500.0	—
February 1, 2026 - February 28, 2026	156	$	513.86	$	426.6	143
March 1, 2026 - March 31, 2026	205	$	482.87	$	327.5	205
TOTAL FOR THE QUARTER ENDED MARCH 31, 2026	361	$	496.23	$	327.5	348

Incorporated by Reference

Exhibit
Number

Exhibit Description

Form

File No.

Exhibit

Filing
Date

Filed/
Furnished
Herewith

10.1

Change in Control Severance Agreement, dated as of January 1, 2026, between Hubbell Incorporated and Joseph A. Capozzoli

10-K

001-02958

10.15

2/12/2026

31.1

Certification of Chief Executive Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2

Certification of Chief Financial Officer Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1

Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2

Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101

The following materials from Hubbell Incorporated's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 formatted in Inline Extensible Business Reporting Language (iXBRL): (i) the Condensed Consolidated Statements of Income, (ii) the Condensed Consolidated Statements of Comprehensive Income, (iii) the Condensed Consolidated Balance Sheets, (iv) the Condensed Consolidated Statements of Cash Flows, and (v) Notes to the Condensed Consolidated Financial Statements.

104

The cover page of this Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, formatted in Inline XBRL (included within the Exhibit 101 attachments)


Connecticut		06-0397030
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
40 Waterview Drive
Shelton,	CT	06484
(Address of principal executive offices)		(Zip Code)
(475)		882-4000
(Registrant’s telephone number, including area code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock - par value $0.01 per share	HUBB	New York Stock Exchange


Table of Contents

PART I		3

ITEM 1	Financial Statements (unaudited)
	Condensed Consolidated Statements of Income	3
	Condensed Consolidated Statements of Comprehensive Income	4
	Condensed Consolidated Balance Sheets	5
	Condensed Consolidated Statements of Cash Flows	6
	Notes to Condensed Consolidated Financial Statements	7
ITEM 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	32
ITEM 3	Quantitative and Qualitative Disclosures About Market Risk	44
ITEM 4	Controls and Procedures	45

PART II		46

ITEM 1A	Risk Factors	46
ITEM 2	Unregistered Sales of Equity Securities and Use of Proceeds	46
ITEM 5	Other information	46
ITEM 6	Exhibits	47
	Signatures	48


Accounts receivable	$	32.1
Inventories	47.6
Other current assets	2.0
Property, plant and equipment	54.3
Other non-current assets	5.4
Intangible assets	417.1
Accounts payable	(12.7)
Other accrued liabilities	(16.3)
Deferred tax liabilities, net	(106.8)
Other non-current liabilities	(4.9)
Goodwill	538.1
Total Estimate of Consideration Transferred, Net of Cash Acquired	$	955.9


	Three Months Ended March 31,
in millions	2026		2025
Net sales
Grid Infrastructure	$	727.1	$	617.7
Grid Automation	221.8		239.4
Total Utility Solutions	$	948.9	$	857.1
Electrical Products	$	232.2	$	205.7
Industrial	335.6		302.4
Total Electrical Solutions	$	567.8	$	508.1
TOTAL	$	1,516.7	$	1,365.2


N/A
(Former name, former address and former fiscal year, if changed since last report.)


	March 31, 2026		December 31, 2025
Raw material	$	457.5	$	455.0
Work-in-process	248.9		227.5
Finished goods	433.1		401.3
INVENTORIES, NET	$	1,139.5	$	1,083.8


	Segment
	Utility Solutions		Electrical Solutions		Total
BALANCE AT DECEMBER 31, 2025	$	2,384.0	$	676.8	$	3,060.8
Prior year acquisitions(1)	(1.1)		—		(1.1)

Foreign currency translation	0.7		(0.8)		(0.1)
BALANCE AT MARCH 31, 2026	$	2,383.6	$	676.0	$	3,059.6


	March 31, 2026				December 31, 2025
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Definite-lived:
Patents, tradenames and trademarks	$	250.0	$	(107.6)	$	250.0	$	(104.7)
Customer relationships	1,633.3		(536.6)		1,633.6		(517.6)
Developed technology and other	278.0		(184.7)		278.6		(179.4)
TOTAL DEFINITE-LIVED INTANGIBLES	$	2,161.3	$	(828.9)	$	2,162.2	$	(801.7)
Indefinite-lived:
Tradenames and other	33.8		—		33.8		—
TOTAL OTHER INTANGIBLE ASSETS	$	2,195.1	$	(828.9)	$	2,196.0	$	(801.7)


	March 31, 2026		December 31, 2025
Customer program incentives	$	38.6	$	73.5
Accrued income taxes	65.4		27.5
Contract liabilities - deferred revenue	154.5		161.3
Customer refund liability	20.5		20.5
Accrued warranties short-term(1)	17.3		15.2
Current operating lease liabilities	44.2		40.7
Other	112.6		112.0
TOTAL	$	453.1	$	450.7


	March 31, 2026		December 31, 2025
Pensions	$	114.6	$	117.4
Other post-retirement benefits	10.3		10.3
Deferred tax liabilities	419.1		420.1
Accrued warranties long-term(1)	17.6		18.8
Non-current operating lease liabilities	121.5		121.2
Other	143.4		138.1
TOTAL	$	826.5	$	825.9


	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Hubbell Shareholders' Equity		Non- controlling interest
BALANCE AT DECEMBER 31, 2025	$	0.6	$	6.4	$	4,155.7	$	(314.8)	$	3,847.9	$	10.0
Net income	—		—		181.8		—		181.8		1.2
Other comprehensive income	—		—		—		0.6		0.6		—
Stock-based compensation	—		14.4		—		—		14.4		—
Acquisition/surrender of common shares(1)	—		(20.7)		(179.8)		—		(200.5)		—
Cash dividends declared ($1.42 per share)	—		—		(75.5)		—		(75.5)		—
Dividends to noncontrolling interest	—		—		—		—		—		(0.6)
Directors deferred compensation	—		(0.1)		—		—		(0.1)		—
BALANCE AT MARCH 31, 2026	$	0.6	$	—	$	4,082.2	$	(314.2)	$	3,768.6	$	10.6


(debit) credit	Cash flow hedge gain (loss)		Unrealized gain (loss) on available-for- sale securities		Pension and post retirement benefit plan adjustment		Cumulative translation adjustment		Total
BALANCE AT DECEMBER 31, 2025	$	(0.3)	$	0.4	$	(169.8)	$	(145.1)	$	(314.8)
Other comprehensive income (loss) before reclassifications	0.5		(0.3)		—		(1.1)		(0.9)
Amounts reclassified from accumulated other comprehensive income (loss)	0.1		—		1.4		—		1.5
Current period other comprehensive income (loss)	0.6		(0.3)		1.4		(1.1)		0.6
BALANCE AT MARCH 31, 2026	$	0.3	$	0.1	$	(168.4)	$	(146.2)	$	(314.2)


	Three Months Ended March 31,
Details about Accumulated Other Comprehensive Loss Components	2026		2025		Location of Gain (Loss) Reclassified into Income
Cash flow hedges gain (loss):
Forward exchange contracts	$	—	$	—	Net sales
	(0.1)		0.5		Cost of goods sold
	—		—		Other expense, net
	(0.1)		0.5		Total before tax
	—		(0.1)		Tax benefit (expense)
	$	(0.1)	$	0.4	Gain (loss) net of tax
Amortization of defined benefit pension and post retirement benefit items:
Prior-service costs (a)	$	(0.1)	$	(0.1)
Actuarial gains (losses) (a)	(2.3)		(3.0)

	(2.4)		(3.1)		Total before tax
	1.0		0.7		Tax benefit (expense)
	$	(1.4)	$	(2.4)	Gain (loss) net of tax










Gains (losses) reclassified into earnings	$	(1.5)	$	(2.0)	Gain (loss) net of tax


	Pension Benefits				Other Benefits
	2026		2025		2026		2025
Three Months Ended March 31,
Service cost	$	0.1	$	0.1	$	—	$	—
Interest cost	8.3		8.8		0.2		0.2
Expected return on plan assets	(7.5)		(7.1)		—		—
Amortization of prior service cost	0.1		0.1		—		—
Amortization of actuarial losses (gains)	2.5		3.1		(0.2)		(0.1)

NET PERIODIC BENEFIT COST	$	3.5	$	5.0	$	—	$	0.1


PART I			FINANCIAL INFORMATION


	2026		2025
BALANCE AT JANUARY 1, (a)	$	34.0	$	41.7
Provision	4.5		3.3
Expenditures/payments/other	(3.6)		(3.4)
BALANCE AT MARCH 31, (a)	$	34.9	$	41.6


Asset (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Quoted Prices in Active Markets for Similar Assets (Level 2)		Unobservable inputs for which little or no market data exists (Level 3)		Total
March 31, 2026
Money market funds(a)	$	225.9	$	—	$	—	$	225.9
Time Deposits(b)	—		2.8		—		2.8
Available for sale investments	—		81.6		—		81.6
Trading securities	30.7		—		—		30.7
Deferred compensation plan liabilities	(30.7)		—		—		(30.7)
Derivatives:
Forward exchange contracts-Assets(c)	—		0.4		—		0.4
Forward exchange contracts-(Liabilities)(d)	—		(0.1)		—		(0.1)
TOTAL	$	225.9	$	84.7	$	—	$	310.6

Asset (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Quoted Prices in Active Markets for Similar Assets (Level 2)		Unobservable inputs for which little or no market data exists (Level 3)		Total
December 31, 2025
Money market funds(a)	$	187.4	$	—	$	—	$	187.4
Time Deposits(b)	—		2.9		—		2.9
Available for sale investments	—		78.4		—		78.4
Trading securities	32.5		—		—		32.5
Deferred compensation plan liabilities	(32.5)		—		—		(32.5)
Derivatives:
Forward exchange contracts-Assets(c)	—		0.1		—		0.1
Forward exchange contracts-(Liabilities)(d)	—		(0.5)		—		(0.5)
TOTAL	$	187.4	$	80.9	$	—	$	268.3


	Beginning Accrued Restructuring Balance 1/1/26		Pre-tax Restructuring Costs		Utilization and Foreign Exchange		Ending Accrued Restructuring Balance 3/31/26
2026 Restructuring Actions
Severance	$	—	$	4.0	$	—	$	4.0
Asset write-downs	—		—		—		—
Facility closure and other costs	—		—		—		—
Total 2026 Restructuring Actions	$	—	$	4.0	$	—	$	4.0
2025 and Prior Restructuring Actions
Severance	$	4.2	$	(0.1)	$	(2.0)	$	2.1
Asset write-downs	—		—		—		—
Facility closure and other costs	0.5		1.4		(1.4)		0.5
Total 2025 and Prior Restructuring Actions	$	4.7	$	1.3	$	(3.4)	$	2.6
Total Restructuring Actions	$	4.7	$	5.3	$	(3.4)	$	6.6


	Total expected costs		Costs incurred during 2025		Costs incurred in the first three months of 2026		Remaining costs at 3/31/2026
2026 Restructuring Actions
Utility Solutions	$	0.4	$	—	$	0.3	$	0.1
Electrical Solutions	9.2		—		3.7		5.5
Total 2026 Restructuring Actions	$	9.6	$	—	$	4.0	$	5.6
2025 and Prior Restructuring Actions
Utility Solutions	$	7.5	$	6.1	$	—	$	1.4
Electrical Solutions	8.1		5.9		1.3		0.9
Total 2025 and Prior Restructuring Actions	$	15.6	$	12.0	$	1.3	$	2.3
Total Restructuring Actions	$	25.2	$	12.0	$	5.3	$	7.9


	Maturity	March 31, 2026		December 31, 2025
Senior notes at 3.15%	2027	$	299.3	$	299.1
Senior notes at 3.50%	2028	448.6		448.5
Senior notes at 2.300%	2031	297.8		297.7
Senior notes at 4.800%	2035	392.3		392.1
Term Loan	2028	599.0		598.9
TOTAL LONG-TERM DEBT(a)		$	2,037.0	$	2,036.3


	Three Months Ended March 31,
	2026		Inc/(Dec) %	2025		Inc/(Dec) %
Net sales growth (decline) (GAAP measure)	$	151.5	11.1	$	(33.9)	(2.4)
Impact of acquisitions	31.5		2.3	4.5		0.3
Impact of divestitures	—		—	(21.1)		(1.5)
Foreign currency exchange	7.9		0.6	(8.6)		(0.6)
Organic net sales growth (decline) (non-GAAP measure)	$	112.1	8.2	$	(8.7)	(0.6)


	Costs incurred in the three months ended March 31, 2026		Additional expected costs		Expected completion date
2026 Restructuring Actions	$	4.0	$	5.6	2027
2025 and Prior Restructuring Actions	1.3		2.3		2026
Total Restructuring cost (GAAP measure)	$	5.3	$	7.9
Restructuring-related costs	1.3		5.1
Restructuring and related costs (Non-GAAP measure)	$	6.6	$	13.0


			/s/ Gerben W. Bakker
			Gerben W. Bakker
			Chairman of the Board, President and Chief Executive Officer
Date:			May 1, 2026


			/s/ Joseph A. Capozzoli
			Joseph A. Capozzoli
			Senior Vice President, Chief Financial Officer
Date:			May 1, 2026

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Apr. 27, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	1-2958
Entity Registrant Name	HUBBELL INC
Entity Incorporation, State or Country Code	CT
Entity Tax Identification Number	06-0397030
Entity Address, Address Line One	40 Waterview Drive
Entity Address, City or Town	Shelton,
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06484
City Area Code	(475)
Local Phone Number	882-4000
Title of 12(b) Security	Common Stock - par value $0.01 per share
Trading Symbol	HUBB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,841,777
Amendment Flag	false
Entity Central Index Key	0000048898
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1

Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Net sales	$ 1,516.7	$ 1,365.2
Cost of goods sold	1,011.4	922.6
Gross profit	505.3	442.6
Selling & administrative expenses	241.5	212.2
Operating income	263.8	230.4
Interest expense, net	(22.0)	(13.8)
Other expense, net	(5.4)	(5.3)
Total other expense, net	(27.4)	(19.1)
Income before income taxes	236.4	211.3
Provision for income taxes	53.4	46.8
Net income	183.0	164.5
Less: Net income attributable to noncontrolling interest	(1.2)	(1.3)
Net income attributable to Hubbell Incorporated	$ 181.8	$ 163.2
Earnings per share:
Basic earnings per share (USD per share)	$ 3.42	$ 3.04
Diluted earnings per share (USD per share)	$ 3.41	$ 3.03

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 183.0	$ 164.5
Other comprehensive income (loss):
Foreign currency translation adjustments	(1.1)	17.3
Defined benefit pension and post-retirement plans, net of taxes of $(1.0) and $(0.7)	1.4	2.4
Unrealized (loss) gain on investments, net of taxes of $0.1 and $(0.1)	(0.3)	0.2
Unrealized gain (loss) on cash flow hedges, net of taxes of $(0.2) and $0.1	0.6	(0.4)
Other comprehensive income	0.6	19.5
Comprehensive income	183.6	184.0
Less: Comprehensive income attributable to noncontrolling interest	1.2	1.3
Comprehensive income attributable to Hubbell Incorporated	$ 182.4	$ 182.7

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 501.6	$ 482.5
Short-term investments	15.3	15.4
Accounts receivable (net of allowances of $14.3 and $13.9)	974.4	856.9
Inventories, net	1,139.5	1,083.8
Other current assets	171.6	155.4
Total Current Assets	2,802.4	2,594.0
Property, Plant, and Equipment, net	843.4	841.2
Other Assets
Investments	99.8	98.4
Goodwill	3,059.6	3,060.8
Other intangible assets, net	1,366.2	1,394.3
Other long-term assets	246.3	240.1
TOTAL ASSETS	8,417.7	8,228.8
Current Liabilities
Short-term debt	536.0	289.1
Accounts payable	605.5	570.5
Accrued salaries, wages and employee benefits	90.6	115.4
Accrued insurance	89.8	83.0
Other accrued liabilities	453.1	450.7
Total Current Liabilities	1,775.0	1,508.7
Long-Term Debt	2,037.0	2,036.3
Other Non-Current Liabilities	826.5	825.9
TOTAL LIABILITIES	4,638.5	4,370.9
Commitments and contingencies (Note 15)
Hubbell Incorporated Shareholders’ Equity	3,768.6	3,847.9
Noncontrolling interest	10.6	10.0
TOTAL EQUITY	3,779.2	3,857.9
TOTAL LIABILITIES AND EQUITY	$ 8,417.7	$ 8,228.8

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 14.3	$ 13.9

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash Flows from Operating Activities
Net income	$ 183.0	$ 164.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	60.2	46.9
Deferred income taxes	(3.0)	0.6
Stock-based compensation	14.4	14.4
Loss on sale of assets	0.5	0.2
Changes in assets and liabilities, excluding effects of acquisitions:
Increase in accounts receivable, net	(117.8)	(142.7)
(Increase) decrease in inventories, net	(61.2)	7.7
Increase (decrease) in accounts payable	43.3	(1.1)
Decrease in current liabilities	(25.7)	(22.7)
Changes in other assets and liabilities, net	(6.5)	(11.1)
Contribution to qualified defined benefit pension plans	0.0	(20.0)
Other, net	(0.6)	0.7
Net cash provided by operating activities	86.6	37.4
Cash Flows from Investing Activities
Capital expenditures	(40.6)	(26.0)
Acquisitions, net of cash acquired	2.4	(73.3)
Purchases of available-for-sale investments	(5.1)	(3.9)
Proceeds from available-for-sale investments	1.4	3.9
Other, net	0.6	0.0
Net cash used in investing activities	(41.3)	(99.3)
Cash Flows from Financing Activities
Borrowing of short-term debt, net	246.9	291.3
Payment of dividends	(75.4)	(70.7)
Acquisition of common shares	(167.5)	(125.0)
Other, net	(27.4)	(20.6)
Net cash (used in) provided by financing activities	(23.4)	75.0
Effect of exchange rate changes on cash and cash equivalents	(2.7)	4.1
Increase in cash and cash equivalents	19.2	17.2
Cash and cash equivalents, beginning of year	482.5	329.1
Restricted cash, included in other assets, beginning of year	1.8	2.5
Less: Restricted cash, included in Other Assets	1.9	1.9
Cash and cash equivalents, end of period	$ 501.6	$ 346.9

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements of Hubbell Incorporated (“Hubbell”, the “Company”, “registrant”, “we”, “our” or “us”, which references include its divisions and subsidiaries) have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by United States of America (“U.S.”) GAAP for audited financial statements. In the opinion of management, all adjustments consisting only of normal recurring adjustments considered necessary for a fair statement of the results of the periods presented have been included. Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2026. The balance sheet at December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, refer to the audited consolidated financial statements and footnotes thereto included in the Hubbell Incorporated Annual Report on Form 10-K for the year ended December 31, 2025.
Supplier Finance Program Obligations	Supplier Finance Program Obligations Payment Services Arrangements The Company has ongoing agreements with financial institutions to facilitate the processing of vendor payables. Under these agreements, the Company pays the financial institution the stated amount of confirmed invoices from participating suppliers on their original maturity date. The terms of the vendor payables are not affected by vendors participating in these agreements. As a result, the amounts owed are presented as accounts payable in the Company’s Condensed Consolidated Balance Sheets, of which $99.4 million and $95.5 million was outstanding at March 31, 2026 and December 31, 2025, respectively. Either party may terminate the agreements with 30 days written notice. Cash flows under the program are reported in operating activities in the Company’s Condensed Consolidated Statements of Cash Flows. Commercial Card Program In 2021, the Company entered into an agreement with a financial institution that allows participating suppliers to receive payment for outstanding invoices through a commercial purchasing card sponsored by a financial institution. The Company is required to settle such outstanding invoices through a consolidated payment to the financial institution 15 days after the commercial card billing cycle. The Company receives the benefit of extended payment terms and a rebate from the financial institution. Either party may terminate the agreement with 60 days written notice. The amount outstanding to the financial institution is presented as short-term debt in the Company’s Condensed Consolidated Balance Sheets, of which, $2.0 million and $2.1 million was outstanding at March 31, 2026 and December 31, 2025, respectively. Cash flows under the program are reported in financing activities in the Company’s Condensed Consolidated Statements of Cash Flows.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (DISE),” which requires additional disclosure of the nature of expenses included in the income statement. The standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The requirements are required to be adopted prospectively with the option for retrospective application. The Company is assessing the impact of adopting this standard on its financial statements and disclosures. In September 2025, the FASB issued ASU 2025-06, "Targeted Improvements to the Accounting for Internal-Use Software", which modernizes the accounting for software costs. The ASU is effective for public entities for fiscal years beginning after December 15, 2027, and interim periods for fiscal years beginning after December 15, 2027. The Company is assessing the impact of adopting this standard on its financial statements and disclosures. In October 2025, the FASB issued ASU 2025-10, "Accounting for Government Grants Received by Business Entities", which establishes the accounting for business entities on the recognition, measurement, presentation, and disclosure of government grants. The ASU is effective for public entities for fiscal years beginning after December 15, 2028, and interim periods for fiscal years beginning after December 15, 2029. The Company is assessing the impact of adopting this standard on its financial statements and disclosures.

Basis of Presentation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2021	Dec. 31, 2025
Payment Services Arrangement
Supplier Finance Program [Line Items]
Supplier finance program, obligation	$ 99.4		$ 95.5
Termination notice period	30 days
Commercial Card Program
Supplier Finance Program [Line Items]
Supplier finance program, obligation	$ 2.0		$ 2.1
Termination notice period		60 days
Payment terms		15 days

Business Acquisitions - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
	Oct. 01, 2025	Sep. 30, 2025	Mar. 31, 2025	Mar. 31, 2026	Dec. 31, 2025
Business Combination [Line Items]
Goodwill				$ 3,059.6	$ 3,060.8
Term Loan \| Senior Notes
Business Combination [Line Items]
Face amount	$ 600.0
Ventev
Business Combination [Line Items]
Consideration transferred to acquire business			$ 73.0
Intangible assets			34.5
Goodwill			$ 40.0
Ventev \| Customer Relationships, Tradenames
Business Combination [Line Items]
Weighted average period (in years)			17 years
Nicor, Inc.
Business Combination [Line Items]
Consideration transferred to acquire business		$ 56.0
Intangible assets		18.6
Goodwill		$ 31.1
Nicor, Inc. \| Customer Relationships, Tradenames
Business Combination [Line Items]
Weighted average period (in years)		18 years
DMC Power, LLC.
Business Combination [Line Items]
Consideration transferred to acquire business	827.0
Intangible assets	364.0
Goodwill	467.0
DMC Power, LLC. \| Customer relationships
Business Combination [Line Items]
Intangible assets	290.0
DMC Power, LLC. \| Developed Technology, Tradenames, and Backlog
Business Combination [Line Items]
Intangible assets	$ 74.0
DMC Power, LLC. \| Customer Relationships, Developed Technology, Tradenames, and Backlog
Business Combination [Line Items]
Weighted average period (in years)	21 years

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Revenue from Contract with Customer [Abstract]
Percentage of revenue from service contracts and post-shipment obligations (approximate)	1.00%
Contract liabilities	$ 167.9	$ 174.6
Decrease in net contract liabilities	6.7
Revenue recognized	43.5
Increase in current year deferrals, net	36.8
Contract assets	$ 57.3	$ 48.2