Hubbell (HUBB) FY2020 results: revenue $3.7 billion, down 6.7% on the year
Hubbell Inc. (HUBB) reported revenue of $3.7 billion for fiscal 2020, the year ended 31 December 2020, down 6.7% on the year before. Net income was $351 million, down 12.4%, and diluted earnings per share $6.43. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$3.7 billion
-6.7% on the year
FY2013FY2020
Operating margin
13.4%
13.3% a year earlier
FY2013FY2020
Net income
$351 million
-12.4% on the year
FY2013FY2020
Diluted EPS
$6.43
-12.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,682
3,947
4,482
-6.7%
Cost of revenue
2,597
2,775
3,181
-6.4%
Gross profit
1,086
1,172
1,300
-7.3%
Gross margin
29.5%
29.7%
29.0%
Selling, general and administrative
591
645
744
-8.3%
Operating income
494
527
557
-6.1%
Operating margin
13.4%
13.3%
12.4%
Interest expense
60.3
69.4
72.4
-13.1%
Pre-tax income
424
469
467
-9.5%
Income tax
89.8
101
101
-11.3%
Effective tax rate
21.2%
21.6%
21.6%
Net income
351
401
360
-12.4%
Net margin
9.5%
10.2%
8.0%
Diluted EPS
$6.43
$7.31
$6.54
-12.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
648
592
517
+9.5%
Capital expenditure
82.8
86.7
96.2
-4.5%
Free cash flow
565
505
421
+11.9%
Free cash flow margin
15.3%
12.8%
9.4%
Cash from investing
-329
-129
-1,201
Cash from financing
-244
-471
506
Depreciation and amortisation
144
138
148
+4.8%
Share-based compensation
21.9
14.5
24.2
+51.0%
Buybacks
41.3
35.0
40.0
+18.0%
Dividends paid
201
187
172
+7.9%
Dividend per share
$3.71
$3.43
$3.15
+8.2%
Diluted shares, weighted
54m
55m
55m
-0.4%
Shares outstanding at period end
54m
55m
55m
-0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,070
1,947
1,781
+6.3%
Non-controlling interest
15.4
13.4
18.3
+14.9%
Debt
1,590
1,571
1,793
+1.2%
Operating lease liabilities
71.9
71.7
n/a
+0.3%
Other liabilities
1,338
1,299
1,280
+3.0%
Total liabilities and equity
5,085
4,903
4,872
+3.7%
Fixed assets
439
505
502
-13.2%
Goodwill
1,873
1,762
1,784
+6.3%
Intangible assets
771
782
820
-1.4%
Investments
80.4
69.9
65.5
+15.0%
Trading assets
22.7
19.2
14.3
+18.2%
Cash and equivalents
259
182
189
+42.1%
Receivables
553
683
725
-19.0%
Inventory
527
633
651
-16.8%
Other assets
561
268
121
+109.6%
Total assets
5,085
4,903
4,872
+3.7%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.