Hubbell (HUBB) FY2018 results: revenue $4.5 billion, up 22.2% on the year
Hubbell Inc. (HUBB) reported revenue of $4.5 billion for fiscal 2018, the year ended 31 December 2018, up 22.2% on the year before. Net income was $360 million, up 48.2%, and diluted earnings per share $6.54. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$4.5 billion
+22.2% on the year
FY2011FY2018
Operating margin
12.4%
14.1% a year earlier
FY2011FY2018
Net income
$360 million
+48.2% on the year
FY2011FY2018
Diluted EPS
$6.54
+49.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,482
3,669
3,505
+22.2%
Cost of revenue
3,181
2,517
2,404
+26.4%
Gross profit
1,300
1,155
1,105
+12.6%
Gross margin
29.0%
31.5%
31.5%
Selling, general and administrative
744
636
615
+16.8%
Operating income
557
519
490
+7.3%
Operating margin
12.4%
14.1%
14.0%
Interest expense
72.4
44.9
43.4
+61.2%
Pre-tax income
467
443
430
+5.4%
Income tax
101
193
133
-47.8%
Effective tax rate
21.6%
43.6%
30.8%
Net income
360
243
293
+48.2%
Net margin
8.0%
6.6%
8.4%
Diluted EPS
$6.54
$4.39
$5.24
+49.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
517
379
411
+36.4%
Capital expenditure
96.2
79.7
67.2
+20.7%
Free cash flow
421
299
344
+40.6%
Free cash flow margin
9.4%
8.2%
9.8%
Cash from investing
-1,201
-246
-230
Cash from financing
506
-214
-59.4
Depreciation and amortisation
148
98.2
90.9
+51.1%
Share-based compensation
24.2
22.3
22.3
+8.5%
Buybacks
40.0
92.5
247
-56.8%
Dividends paid
172
158
144
+9.3%
Dividend per share
$3.15
$2.87
$2.59
+9.8%
Diluted shares, weighted
55m
55m
56m
-0.4%
Shares outstanding at period end
55m
55m
56m
-0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,781
1,634
1,593
+9.0%
Non-controlling interest
18.3
13.7
10.4
+33.6%
Short-term borrowings
n/a
n/a
3.2
Debt
1,793
1,055
990
+69.9%
Other liabilities
1,280
1,018
928
+25.8%
Total liabilities and equity
4,872
3,721
3,525
+30.9%
Fixed assets
502
458
440
+9.6%
Goodwill
1,784
1,089
991
+63.9%
Intangible assets
820
460
432
+78.0%
Investments
65.5
72.2
67.6
-9.3%
Trading assets
14.3
13.8
10.2
+3.6%
Cash and equivalents
189
375
438
-49.6%
Receivables
725
540
530
+34.3%
Inventory
651
635
532
+2.6%
Other assets
121
76.9
84.9
+57.2%
Total assets
4,872
3,721
3,525
+30.9%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.