Hubbell (HUBB) Q1 FY2026 earnings: revenue $1.5 billion, up 11.1% on the year

Hubbell Inc. (HUBB) reported revenue of $1.5 billion for Q1 FY2026, the quarter ended 31 March 2026, up 11.1% on the same quarter a year earlier. Net income was $182 million, up 11.4% on the year, and diluted earnings per share $3.41. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.

Revenue

$1.5 billion

+11.1% on the year · +1.6% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

17.4%

16.9% a year earlier

Q2 FY2024Q1 FY2026

Net income

$182 million

+11.4% on the year · -18.9% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$3.41

+12.5% on the year · -18.6% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 narrowed, 5 kept.

Sales rose 11% on organic growth: Net sales were $1,516.7 million, up 11.1% from $1,365.2 million. Organic growth contributed 8.2%, foreign exchange 0.6% and acquisitions 2.3%.
Grid Infrastructure grew; Grid Automation fell: Grid Infrastructure rose about 18% while Grid Automation fell about 7%. Grid Automation volume declines were named as an offset to segment profit gains.
Utility T&D markets drove growth: Management said core utility T&D markets remain active: load growth drives transmission and substation, and aging-infrastructure resiliency investment drives distribution.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,517	1,493	1,365	+1.6%	+11.1%
Cost of revenue	1,011	968	923	+4.5%	+9.6%
Gross profit	505	525	443	-3.8%	+14.2%
Gross margin	33.3%	35.2%	32.4%
Selling, general and administrative	242	214	212	+13.1%	+13.8%
Operating income	264	303	230	-12.9%	+14.5%
Operating margin	17.4%	20.3%	16.9%
Interest expense	22.0	22.2	13.8	-0.9%	+59.4%
Pre-tax income	236	273	211	-13.4%	+11.9%
Income tax	53.4	54.2	46.8	-1.5%	+14.1%
Effective tax rate	22.6%	19.9%	22.1%
Net income	182	224	163	-18.9%	+11.4%
Net margin	12.0%	15.0%	12.0%
Diluted EPS	$3.41	$4.19	$3.03	-18.6%	+12.5%

$ million except per share.

Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	86.6	448	37.4	-80.6%	+131.6%
Capital expenditure	40.6	58.7	26.0	-30.8%	+56.2%
Free cash flow	46.0	389	11.4	-88.2%	+303.5%
Free cash flow margin	3.0%	26.0%	0.8%
Cash from investing	-41.3	-879	-99.3
Cash from financing	-23.4	246	75.0
Depreciation and amortisation	60.2	61.7	46.9	-2.4%	+28.4%
Share-based compensation	14.4	6.0	14.4	+140.0%	0.0%
Buybacks	168	0.0	125		+34.0%
Dividend per share	$1.42	n/a	$1.32		+7.6%
Diluted shares, weighted	53m	n/a	54m		-0.9%
Shares outstanding at period end	53m	53m	53m	-0.8%	-1.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	3,769	3,848	3,261	-2.1%	+15.6%
Non-controlling interest	10.6	10.0	10.8	+6.0%	-1.9%
Debt	2,573	2,325	1,860	+10.6%	+38.3%
Operating lease liabilities	122	121	117	+0.2%	+3.8%
Other liabilities	1,944	1,924	1,673	+1.0%	+16.2%
Total liabilities and equity	8,418	8,229	6,922	+2.3%	+21.6%
Fixed assets	843	841	734	+0.3%	+14.8%
Goodwill	3,060	3,061	2,549	-0.0%	+20.0%
Intangible assets	1,366	1,394	1,091	-2.0%	+25.2%
Investments	115	114	100	+1.1%	+14.8%
Trading assets	30.7	32.5	26.4	-5.5%	+16.3%
Cash and equivalents	502	482	347	+4.0%	+44.6%
Receivables	974	857	902	+13.7%	+8.0%
Inventory	1,140	1,084	849	+5.1%	+34.3%
Other assets	387	363	324	+6.7%	+19.6%
Total assets	8,418	8,229	6,922	+2.3%	+21.6%

Questions

What was Hubbell's revenue in Q1 FY2026?

Hubbell (HUBB) reported revenue of $1.5 billion for Q1 FY2026, the quarter ended 31 March 2026, up 11.1% on the same quarter a year earlier.

How much did Hubbell earn in Q1 FY2026?

Net income for Q1 FY2026 was $182 million, up 11.4% on the year, and diluted earnings per share $3.41.

When did Hubbell report Q1 FY2026 results?

Hubbell filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,100	1,156	1,256	1,316	1,220	1,285	1,366	1,376	1,346	1,399	1,452	1,443	1,334	1,365	1,484	1,502	1,493	1,517	1,712	1,872
Cost of revenue	810	833	873	918	853	837	870	888	890	966	939	937	882	923	932	958	968	1,011	1,099	1,184
Gross profit	290	323	383	398	367	448	496	487	456	434	514	506	452	443	552	544	525	505	613	688
Gross margin	26%	28%	31%	30%	30%	35%	36%	35%	34%	31%	35%	35%	34%	32%	37%	36%	35%	33%	36%	37%
SG&A	156	180	193	195	195	200	208	211	231	219	208	193	192	212	216	214	214	242	264	280
Operating income	134	143	191	204	172	249	288	276	226	228	306	313	258	230	336	331	303	264	349	409
Operating margin	12%	12%	15%	15%	14%	19%	21%	20%	17%	16%	21%	22%	19%	17%	23%	22%	20%	17%	20%	22%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	9.2	7.8	n/a	21.1	19.8	18.7	14.2	13.8	14.5	13.6	22.2	22.0	39.1	58.0
Pre-tax income	124	133	176	191	157	235	274	265	210	201	285	288	244	211	315	311	273	236	304	345
Tax rate	18%	22%	22%	20%	21%	22%	24%	24%	18%	26%	23%	21%	19%	22%	22%	17%	20%	23%	20%	23%
Net income	118	180	122	139	105	182	207	200	171	137	218	226	198	163	244	256	224	182	240	262
Net margin	11%	16%	10%	11%	9%	14%	15%	15%	13%	10%	15%	16%	15%	12%	16%	17%	15%	12%	14%	14%
Diluted EPS	$2.14	$3.31	$2.26	$2.57	$1.93	$3.37	$3.82	$3.70	$3.16	$2.73	$4.01	$4.18	$3.66	$3.03	$4.56	$4.77	$4.19	$3.41	$4.52	$4.94
Operating cash flow	n/a	n/a	n/a	n/a	n/a	114	228	194	346	92.2	240	227	432	37.4	261	284	448	86.6	250	323
Capital expenditure	23.7	21.4	20.5	25.3	62.1	33.4	35.5	34.9	61.9	40.3	33.9	38.2	68.0	26.0	39.9	30.5	58.7	40.6	37.0	42.2
Free cash flow	n/a	n/a	n/a	n/a	n/a	80.3	192	159	284	51.9	206	189	364	11.4	221	254	389	46.0	213	280
Buybacks	0.0	144	6.0	0.0	32.0	20.0	0.0	10.0	0.0	10.0	10.0	10.0	10.0	125	100	0.0	0.0	168	36.0	0.0
Shares outstanding	55m	54m	54m	54m	54m	54m	54m	54m	54m	54m	54m	54m	54m	53m	53m	53m	53m	53m	53m	53m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-Q	10-Q	10-K	10-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.