Sector: Industrials|Industry: Electrical Equipment & Parts|Market Cap: $23.13B|Employees: 18.3K
Hubbell Incorporated is a global manufacturer of electrical and utility solutions. They provide products for electrical distribution, transmission, and telecommunications, as well as solutions for smart meters and energy management. Hubbell has a strong market position with a wide range of brands and a global presence, with manufacturing facilities in the US, Canada, Mexico, China, and Europe.
The 10-K reports that net sales reached $5,628.5 million, a 4.7% increase from 2023. This was primarily due to favorable price realization, although unit volume was slightly down. This indicates improved pricing power and demand for Hubbell's products.
The 10-K notes that operating margin increased by 10 basis points, while adjusted operating margin increased by 90 basis points. This suggests that adjustments, such as excluding amortization of acquisition-related intangible assets, had a positive impact on profitability.
The 10-K indicates that operating cash flow increased to $991.2 million and free cash flow increased to $810.8 million. This demonstrates improved cash generation capabilities, which can be used for strategic investments, acquisitions, and shareholder returns.