WASHINGTON (dpa-AFX) - Hubbell Inc. (HUBB), an industrial manufacturer, on Tuesday reported a decline in net income for the second quarter compared with the previous year. The company also raised its full year 2026 outlook.
For the second quarter, net income attributable to the company declined to $240.4 million from $244.2 million in the prior year.
Earnings per share were $4.52 versus $4.56 last year.
Adjusted net income available to common shareholders increased to $293.3 million from $263.8 million in the previous year.
Adjusted earnings per share were $5.52 versus $4.93 last year.
Adjusted EBITDA increased to $416 million from $384.6 million in the same period a year ago.
Operating income jumped to $348.6 million from $336.3 million in the prior year.
Net sales increased to $1.71 billion from $1.49 billion in the previous year.
Looking ahead, the company expects full year 2026 sales growth of 16-18%, including organic sales growth of 9-11%.
The company expects full year 2026 earnings per share in the range of $17.25 to $17.55 and adjusted earnings per share in the range of $20.25 to $20.55.
In the pre-market trading, Hubbell is 1.58% higher at $505.90 on the New York Stock Exchange.
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