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Get filing alertsHubbell reports 15% Q2 sales growth, completes $3.0B NSI acquisition, raises FY guidance
Filed July 28, 2026 · Period ending July 28, 2026 · ~1 min read
Key Changes
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high
Completed $3.0B acquisition of NSI Industries (electrical fittings, connectors, wire management), financed with $900M term loan, $1.9B senior notes, and commercial paper, significantly increasing debt levels.
Exhibit 99.1 view on EDGAR → -
high
Q2 adjusted EPS $5.52 (up 12% y/y) on 15% sales growth (10% organic, 5% M&A); adjusted operating margin 23.9%, down 50 bps y/y due to cost inflation, raw materials, and tariffs.
Exhibit 99.1 view on EDGAR → -
high
Raised FY 2026 guidance: total sales growth 16-18% (organic 9-11%), adjusted EPS $20.25-$20.55, excluding ~$2.50/share amortization and ~$0.50/share transaction/integration costs.
Exhibit 99.1 view on EDGAR → -
medium
Electrical Solutions segment sales up 25% (18% organic, 6.5% M&A) but operating margin compressed to 16.7% from 21.5% y/y, driven by cost inflation, tariffs, and restructuring investment.
Exhibit 99.1 view on EDGAR → -
medium
Utility Solutions segment sales up 10% (6% organic) with Grid Infrastructure +12%, Grid Automation +1%; operating margin 22.8%, down 50 bps y/y on cost pressures.
Exhibit 99.1 view on EDGAR →
Summary
Hubbell reported second quarter 2026 results featuring 15% sales growth and completed its $3.0 billion acquisition of NSI Industries, a leading electrical fittings and connectors provider. The company financed the deal with $900 million in term loan borrowings, $1.9 billion in senior notes, and commercial paper, materially increasing its debt profile.
Adjusted EPS of $5.52 grew 12% year-over-year despite margin pressure from cost inflation, raw materials, and tariffs. The Electrical Solutions segment delivered strong 25% sales growth but saw operating margin compress 480 basis points to 16.7%, reflecting integration costs and operational challenges alongside the cost headwinds. Utility Solutions grew 10% with more stable margins.
Management raised full-year guidance, now expecting 16-18% total sales growth and adjusted EPS of $20.25-$20.55, excluding approximately $3.00 per share in amortization and transaction costs. Retail investors should monitor integration execution at NSI and whether margin recovery materializes as the company absorbs the acquisition and works through cost pressures. The raised guidance signals confidence in demand trends, but the debt-financed acquisition and margin compression in Electrical Solutions warrant attention to cash flow generation and deleveraging progress in coming quarters.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Hubbell announced Q2 2026 earnings results via press release; detailed financial metrics are in Exhibit 99.1.
Added in current filing · verify on EDGAR →
On July 28, 2026, Hubbell Incorporated (the “Company”) issued a press release announcing results for the second quarter and six months ended June 30, 2026.
Hubbell disclosed its financial results for the second quarter and first half of 2026. The specific financial metrics (revenue, earnings per share, margins, guidance) are contained in the press release furnished as Exhibit 99.1, which is referenced but not reproduced in the body of this 8-K.
Event · Exhibit 99.1
Hubbell reported Q2 2026 results with 15% sales growth, acquired NSI Industries for ~$3.0B, and raised full-year adjusted EPS guidance to $20.25-$20.55.
Added in current filing · view on EDGAR →
Q2 diluted EPS of $4.52; adjusted diluted EPS of $5.52 (up 12% y/y)
•Q2 net sales +15% (organic +10%; M&A +5%)
•Q2 operating margin 20.4%; adjusted operating margin 23.9% (down 50 bps y/y)
Hubbell reported second quarter 2026 diluted earnings per share of $4.52 and adjusted diluted EPS of $5.52, representing 12% year-over-year growth. Net sales increased 15% with 10% organic growth and 5% from acquisitions. Operating margin was 20.4% on a GAAP basis and 23.9% adjusted, down 50 basis points year-over-year due to cost inflation, raw materials, and tariffs partially offset by volume growth and productivity.
Added in current filing · view on EDGAR →
For the full year 2026, Hubbell anticipates total sales growth of 16-18% including organic sales growth of 9-11%. Hubbell expects 2026 GAAP diluted earnings per share in the range of $17.25 to $17.55 and adjusted diluted earnings per share (“Adjusted EPS”) in the range of $20.25 to $20.55.
Hubbell raised its full-year 2026 guidance, now expecting total sales growth of 16-18% with organic growth of 9-11%. The company expects GAAP diluted EPS of $17.25 to $17.55 and adjusted diluted EPS of $20.25 to $20.55. The adjusted EPS guidance excludes approximately $2.50 per share of amortization of acquisition-related intangible assets and approximately $0.50 per share of transaction, integration, and separation costs.
Added in current filing · view on EDGAR →
Utility Solutions segment net sales in the second quarter of 2026 increased 10% to $1,026 million compared to $936 million reported in the second quarter of 2025. Organic net sales increased approximately 6% in the quarter compared to the second quarter 2025. Grid Infrastructure net sales increased approximately 12% and Grid Automation net sales increased approximately 1%. Segment operating income in the second quarter of 2026 was $234 million, or 22.8% of net sales, compared to $218 million, or 23.3% of net sales, in the same period of 2025.
The Utility Solutions segment delivered 10% net sales growth to $1,026 million with 6% organic growth. Grid Infrastructure grew approximately 12% while Grid Automation increased approximately 1%. Operating margin was 22.8%, down 50 basis points year-over-year, as volume growth and favorable pricing were partially offset by cost inflation, raw materials, and tariffs.
Added in current filing · view on EDGAR →
Electrical Solutions segment net sales in the second quarter of 2026 increased 25% to $686 million compared to $549 million reported in the second quarter of 2025. Organic net sales increased 18% in the quarter, while acquisitions added 6.5%. Segment operating income in the second quarter of 2026 was $115 million, or 16.7% of net sales, compared to $118 million, or 21.5% of net sales, in the same period of 2025.
The Electrical Solutions segment reported 25% net sales growth to $686 million, with 18% organic growth and 6.5% from acquisitions. Operating margin declined to 16.7% from 21.5% year-over-year, driven by volume growth and favorable pricing offset by higher cost inflation, raw materials, tariffs, and restructuring investment. The margin compression reflects integration costs and operational challenges despite strong top-line growth.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify