Hubbell (HUBB) FY2023 results: revenue $5.4 billion, up 8.6% on the year
Hubbell Inc. (HUBB) reported revenue of $5.4 billion for fiscal 2023, the year ended 31 December 2023, up 8.6% on the year before. Net income was $751 million, up 37.6%, and diluted earnings per share $13.89. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$5.4 billion
+8.6% on the year
FY2016FY2023
Operating margin
19.1%
14.3% a year earlier
FY2016FY2023
Net income
$751 million
+37.6% on the year
FY2016FY2023
Diluted EPS
$13.89
+37.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
881
583
544
+51.0%
Capital expenditure
166
129
90.2
+28.2%
Free cash flow
715
454
454
+57.5%
Free cash flow margin
13.3%
9.2%
10.8%
Cash from investing
-1,380
n/a
n/a
Cash from financing
388
-437
-433
Depreciation and amortisation
150
148
149
+0.8%
Share-based compensation
26.5
24.5
17.5
+8.2%
Buybacks
30.0
182
11.2
-83.5%
Dividend per share
$4.58
$4.27
$3.99
+7.3%
Diluted shares, weighted
54m
54m
55m
-0.2%
Shares outstanding at period end
54m
54m
55m
+0.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,877
2,361
2,230
+21.9%
Non-controlling interest
12.3
9.7
10.9
+26.8%
Debt
2,141
1,438
1,445
+48.9%
Operating lease liabilities
119
84.9
58.3
+39.9%
Other liabilities
1,932
1,509
1,537
+28.0%
Total liabilities and equity
7,081
5,403
5,282
+31.1%
Fixed assets
653
528
460
+23.6%
Goodwill
2,533
1,970
1,871
+28.6%
Intangible assets
1,196
670
682
+78.5%
Investments
88.4
80.2
78.5
+10.2%
Trading assets
23.4
18.8
24.5
+24.5%
Cash and equivalents
336
440
286
-23.7%
Receivables
785
742
675
+5.9%
Inventory
833
741
662
+12.4%
Other assets
633
212
543
+198.0%
Total assets
7,081
5,403
5,282
+31.1%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.