Hubbell Inc (NYSE: HUBB)

Hubbell Inc is a world-class manufacturer of electrical and utility solutions, with a history dating back to 1888. The company operates in the electrical equipment and utility solutions industry, providing innovative products that enable the reliable and efficient operation of critical infrastructure. Hubbell's solutions support energy infrastructure in three key areas: In Front of the Meter, on The Edge, and Behind the Meter. The company generates revenue through the sale of a wide range of products, including utility transmission and distribution components, smart meters, communications systems, and protection and control devices. These products cater to various markets, such as electrical distribution, substation and transmission, grid protection and controls, utility meters and advanced metering infrastructure, telecommunications, and gas distribution. Hubbell's customer base is diverse, including distributors, utilities, electrical contractors, maintenance personnel, electricians, telecommunications companies, and retail and hardware outlets.

• Utility Solutions Segment: This segment, which accounted for 63% of consolidated revenues in 2025, focuses on enabling the grid to conduct, communicate, and control energy across utility applications. Key products include utility transmission and distribution components such as arresters, insulators, connectors, anchors, bushings, enclosures, cutouts, and switches. The segment also offers solutions for The Edge of the utility infrastructure, including smart meters, communications systems, and protection and control devices. Notable brands within this segment include Aclara, Chance, Anderson, PenCell, Fargo, Hubbell, Polycast, Opti-loop Design, Quazite, Quadrisil, Trinetics, Reuel, Electro Composites, USCO, CDR, RFL Design, Hot Box, PCORE, Delmar, Turner Electric, EMC, Longbow, Ohio Brass, Meramec, Reliaguard, Greenjacket, Armorcast, Beckwith Electric, Continental, R.W. Lyall, Gas Breaker, AEC, Ripley, Electro Industries / Gauge Tech, Balestro, Systems Control, Nicor, and DMC Power. This segment serves markets such as electrical distribution, substation and transmission, grid protection and controls, utility meters and advanced metering infrastructure, telecommunications, and gas distribution.

• Electrical Solutions Segment: Representing 37% of consolidated revenues in 2025, this segment provides critical components that allow operators of buildings, factories, and other industrial infrastructure to connect, protect, wire, and manage power reliability and efficiency. The segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, and other electrical equipment. Key brands include Hubbell, Bell, Raco, Gleason Reel, ACME Electric, Kellems, TayMac, Hipotronics, Powerohm, EC&M Design, Bryant, Wiegmann, AccelTex Solutions, iDevices, Austdac, Burndy, Killark, GAI-Tronics, Connector Products, Chalmit, CMC, Hawke, PCX, and Ventev. These products cater to non-residential, light industrial, heavy industrial, datacenter, electric transmission and distribution, and renewables markets.

Hubbell operates in a competitive industry, facing substantial competition in all categories of its business. The company does not compete with the same companies in all of its product categories, and the number and size of competitors vary considerably depending on the product line. Hubbell's competitive advantages include its reputation for product performance, reliability, quality, and technological innovation. The company's extensive customer base includes distributors, wholesalers, electric utilities, original equipment manufacturers, electrical contractors, telecommunications companies, and retail and hardware outlets. While Hubbell is not dependent on a single customer, its top ten customers account for approximately 42% of its net sales. The company's products are sold through various channels, including electrical and industrial distributors, home centers, retail and hardware outlets, and residential product-oriented internet sites. Special application products are primarily sold through wholesale distributors to contractors, industrial customers, and original equipment manufacturers.