Hubbell (HUBB) FY2014 results: revenue $3.4 billion, up 5.5% on the year
Hubbell Inc. (HUBB) reported revenue of $3.4 billion for fiscal 2014, the year ended 31 December 2014, up 5.5% on the year before. Net income was $325 million, down 0.4%, and diluted earnings per share $5.48. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$3.4 billion
+5.5% on the year
FY2008FY2014
Operating margin
15.4%
15.9% a year earlier
FY2008FY2014
Net income
$325 million
-0.4% on the year
FY2008FY2014
Diluted EPS
$5.48
+0.2% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,359
3,184
3,044
+5.5%
Cost of revenue
2,250
2,113
2,032
+6.5%
Gross profit
1,109
1,070
1,012
+3.6%
Gross margin
33.0%
33.6%
33.2%
Selling, general and administrative
592
563
540
+5.1%
Operating income
517
508
472
+1.9%
Operating margin
15.4%
15.9%
15.5%
Interest expense
31.2
30.8
30.8
+1.3%
Pre-tax income
486
474
442
+2.5%
Income tax
158
144
140
+9.9%
Effective tax rate
32.6%
30.4%
31.6%
Net income
325
326
300
-0.4%
Net margin
9.7%
10.3%
9.8%
Diluted EPS
$5.48
$5.47
$5.00
+0.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
392
382
349
+2.5%
Capital expenditure
60.3
58.8
49.1
+2.6%
Free cash flow
331
323
300
+2.5%
Free cash flow margin
9.9%
10.1%
9.9%
Cash from investing
-243
-151
-116
Cash from financing
-216
-131
-162
Depreciation and amortisation
79.2
70.6
66.8
+12.2%
Share-based compensation
16.4
14.3
15.8
+14.7%
Buybacks
106
31.0
75.6
+240.3%
Dividends paid
121
110
122
+10.7%
Dividend per share
$2.06
$1.85
$1.68
+11.4%
Diluted shares, weighted
59m
60m
60m
-0.7%
Shares outstanding at period end
0
n/a
n/a
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,927
1,906
1,661
+1.1%
Non-controlling interest
8.6
8.4
6.7
+2.4%
Short-term borrowings
1.4
0.3
0.0
+366.7%
Debt
595
597
597
-0.4%
Other liabilities
791
675
682
+17.2%
Total liabilities and equity
3,323
3,187
2,947
+4.3%
Fixed assets
401
377
365
+6.4%
Goodwill
875
800
756
+9.3%
Intangible assets
323
287
288
+12.6%
Investments
51.9
45.9
45.5
+13.1%
Trading assets
8.9
7.3
5.8
+21.9%
Cash and equivalents
654
741
645
-11.7%
Receivables
470
441
405
+6.6%
Inventory
442
386
342
+14.5%
Other assets
97.8
103
95.5
-4.7%
Total assets
3,323
3,187
2,947
+4.3%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.