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Hubbell(HUBB) - 2025 Q1 - Quarterly Results
HUBBHubbell(HUBB)2025-05-01 12:01

Financial Performance - Q1 2025 diluted EPS was 3.15,withadjusteddilutedEPSat3.15, with adjusted diluted EPS at 3.50[4] - Q1 2025 net sales decreased by 2%, with organic sales down 0.6% and net M&A impact of -1.2%[4] - Q1 2025 operating margin was 17.5%, while adjusted operating margin was 19.3%[4] - Full year 2025 diluted EPS outlook is projected between 15.95and15.95 and 16.45, with adjusted EPS between 17.35and17.35 and 17.85[12] - Free cash flow for Q1 2025 was 11million,downfrom11 million, down from 52 million in the same period of 2024[11] - Organic net sales for the three months ended March 31, 2025, were 1,365.2million,adecreasefrom1,365.2 million, a decrease from 1,399.1 million in the same period of 2024[29] - Net sales for Q1 2025 were 1,365.2million,adecreaseof21,365.2 million, a decrease of 2% compared to 1,399.1 million in Q1 2024[37] - Adjusted operating income for Q1 2025 was 263.9million,down4263.9 million, down 4% from 275.2 million in Q1 2024[37] - The operating margin for Q1 2025 was 19.3%, a decrease of 40 basis points from 19.7% in Q1 2024[37] - Adjusted EBITDA for Q1 2025 was 285.7million,aslightdecreaseof1285.7 million, a slight decrease of 1% from 288.4 million in Q1 2024[42] Segment Performance - Electrical Solutions segment achieved organic growth of 5%, driven by strength in datacenter markets[3] - Utility Solutions segment net sales decreased 4% to 857million,withGridAutomationsalesdownapproximately15857 million, with Grid Automation sales down approximately 15%[8] - Segment operating income for Utility Solutions was 160 million, or 18.7% of net sales, compared to 158million,or17.6158 million, or 17.6% in Q1 2024[8] - Adjusted operating income for Electrical Solutions was 84 million, or 16.5% of net sales, up from 80million,or15.880 million, or 15.8% in Q1 2024[9] - The operating income for the Utility Solutions segment was 160.0 million, a 2% increase from 157.5millioninQ12024[37]IncomeandCashFlow−NetincomeattributabletoHubbellIncorporatedincreasedby15157.5 million in Q1 2024[37] Income and Cash Flow - Net income attributable to Hubbell Incorporated increased by 15% to 169.7 million in Q1 2025, compared to 147.8millioninQ12024[35]−BasicearningspershareforQ12025were147.8 million in Q1 2024[35] - Basic earnings per share for Q1 2025 were 3.16, a 15% increase from 2.75inQ12024[35]−NetincomeforQ12025roseto2.75 in Q1 2024[35] - Net income for Q1 2025 rose to 171.0 million, a 15% increase from 149.1millioninQ12024[42]−Netcashprovidedbyoperatingactivitieswas149.1 million in Q1 2024[42] - Net cash provided by operating activities was 37.4 million in Q1 2025, down from 92.2millioninQ12024[33]−FreecashflowforQ12025was92.2 million in Q1 2024[33] - Free cash flow for Q1 2025 was 11.4 million, significantly lower than 51.9millioninQ12024[47]BalanceSheet−TotalassetsasofMarch31,2025,were51.9 million in Q1 2024[47] Balance Sheet - Total assets as of March 31, 2025, were 6,922.1 million, up from 6,679.1millionattheendof2024[31]−Cashandcashequivalentsincreasedto6,679.1 million at the end of 2024[31] - Cash and cash equivalents increased to 346.9 million from 329.1millionattheendof2024[31]−Thecompanyreportedatotalcurrentliabilitiesof329.1 million at the end of 2024[31] - The company reported a total current liabilities of 1,938.3 million as of March 31, 2025, compared to 1,274.2millionattheendof2024[31]−Totaldebtincreasedto1,274.2 million at the end of 2024[31] - Total debt increased to 1,860.1 million as of March 31, 2025, up from 1,568.1millionattheendof2024,resultinginatotaldebttototalcapitalratioof361,568.1 million at the end of 2024, resulting in a total debt to total capital ratio of 36%[46] Sales Growth and Acquisitions - Anticipated total sales growth for 2025 is 6-8%, including pricing actions to address cost inflation[13] - The impact of acquisitions on net sales growth was 4.5 million (0.3%) in Q1 2025, compared to $108.5 million (8.4%) in Q1 2024[39]