WASHINGTON (dpa-AFX) - Hubbell Inc. (HUBB), a manufacturer of utility and electrical solutions, on Tuesday reported higher net income in the third quarter of 2026 compared with the previous year. The company also raised its full-year 2026 outlook.
For the third quarter, net income attributable to the company increased to $262.5 million from $255.5 million in the previous year.
Earnings per share were $4.94 versus $4.77 last year.
On an adjusted basis, net income increased to $314.3 million from $276.6 million in the prior year.
Adjusted earnings per share were $5.91 versus $5.17 last year.
Adjusted EBITDA jumped to $506.9 million from $383.1 million in the same period a year ago.
Operating income surged to $408.7 million from $330.6 million in the prior year.
Net sales increased to $1.87 billion from $1.50 billion in the previous year.
Looking ahead, the company raised full-year 2026 total sales growth of 18% to 19%, including organic sales growth of 10% to 11% and earnings per share of $17.30 to $17.50 and adjusted earnings per share of $20.40 to $20.60.
In late July, the company previously expected full year 2026 sales growth of 16-18%, including organic sales growth of 9-11% and 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 5.16% lesser at $435.68 on the New York Stock Exchange.
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