Hubbell (HUBB) FY2019 results: revenue $3.9 billion, down 11.9% on the year
Hubbell Inc. (HUBB) reported revenue of $3.9 billion for fiscal 2019, the year ended 31 December 2019, down 11.9% on the year before. Net income was $401 million, up 11.3%, and diluted earnings per share $7.31. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$3.9 billion
-11.9% on the year
FY2012FY2019
Operating margin
13.3%
12.4% a year earlier
FY2012FY2019
Net income
$401 million
+11.3% on the year
FY2012FY2019
Diluted EPS
$7.31
+11.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,947
4,482
3,669
-11.9%
Cost of revenue
2,775
3,181
2,517
-12.8%
Gross profit
1,172
1,300
1,155
-9.9%
Gross margin
29.7%
29.0%
31.5%
Selling, general and administrative
645
744
636
-13.3%
Operating income
527
557
519
-5.4%
Operating margin
13.3%
12.4%
14.1%
Interest expense
69.4
72.4
44.9
-4.1%
Pre-tax income
469
467
443
+0.5%
Income tax
101
101
193
+0.3%
Effective tax rate
21.6%
21.6%
43.6%
Net income
401
360
243
+11.3%
Net margin
10.2%
8.0%
6.6%
Diluted EPS
$7.31
$6.54
$4.39
+11.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
592
517
379
+14.4%
Capital expenditure
86.7
96.2
79.7
-9.9%
Free cash flow
505
421
299
+20.0%
Free cash flow margin
12.8%
9.4%
8.2%
Cash from investing
-129
-1,201
-246
Cash from financing
-471
506
-214
Depreciation and amortisation
138
148
98.2
-7.1%
Share-based compensation
14.5
24.2
22.3
-40.1%
Buybacks
35.0
40.0
92.5
-12.5%
Dividends paid
187
172
158
+8.3%
Dividend per share
$3.43
$3.15
$2.87
+8.9%
Diluted shares, weighted
55m
55m
55m
-0.4%
Shares outstanding at period end
55m
55m
55m
-0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,947
1,781
1,634
+9.4%
Non-controlling interest
13.4
18.3
13.7
-26.8%
Debt
1,571
1,793
1,055
-12.4%
Operating lease liabilities
71.7
n/a
n/a
Other liabilities
1,299
1,280
1,018
+1.5%
Total liabilities and equity
4,903
4,872
3,721
+0.6%
Fixed assets
505
502
458
+0.6%
Goodwill
1,762
1,784
1,089
-1.3%
Intangible assets
782
820
460
-4.6%
Investments
69.9
65.5
72.2
+6.7%
Trading assets
19.2
14.3
13.8
+34.3%
Cash and equivalents
182
189
375
-3.7%
Receivables
683
725
540
-5.8%
Inventory
633
651
635
-2.8%
Other assets
268
121
76.9
+121.3%
Total assets
4,903
4,872
3,721
+0.6%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.