$HUBB
HUBBELL INC

2023 Q3 Form 10-Q Financial Statement

#000162828023025628 Filed on July 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.376B $1.366B
YoY Change 4.53% 8.75%
Cost Of Revenue $888.4M $867.9M
YoY Change -3.19% -0.56%
Gross Profit $487.4M $498.0M
YoY Change 22.31% 29.96%
Gross Profit Margin 35.43% 36.46%
Selling, General & Admin $211.1M $208.4M
YoY Change 8.31% 8.2%
% of Gross Profit 43.31% 41.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.60M $36.90M
YoY Change -1.57% 6.34%
% of Gross Profit 7.71% 7.41%
Operating Expenses $211.1M $208.4M
YoY Change 8.31% 8.2%
Operating Profit $276.3M $289.6M
YoY Change 35.71% 51.94%
Interest Expense -$7.800M -$9.200M
YoY Change -35.54% -27.56%
% of Operating Profit -2.82% -3.18%
Other Income/Expense, Net -$3.500M -$4.800M
YoY Change -537.5% -292.0%
Pretax Income $265.0M $273.8M
YoY Change 38.89% 55.57%
Income Tax $63.00M $65.60M
% Of Pretax Income 23.77% 23.96%
Net Earnings $200.1M $206.3M
YoY Change 43.85% 69.1%
Net Earnings / Revenue 14.54% 15.1%
Basic Earnings Per Share $3.72 $3.85
Diluted Earnings Per Share $3.70 $3.82
COMMON SHARES
Basic Shares Outstanding 53.63M shares 53.59M shares
Diluted Shares Outstanding 54.00M shares 54.00M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $590.7M $508.8M
YoY Change 55.69% 16.14%
Cash & Equivalents $572.8M $492.6M
Short-Term Investments $17.90M $16.20M
Other Short-Term Assets $86.40M $91.70M
YoY Change 14.29% -4.58%
Inventory $788.4M $794.1M
Prepaid Expenses
Receivables $852.9M $811.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.318B $2.206B
YoY Change 16.24% 8.44%
LONG-TERM ASSETS
Property, Plant & Equipment $572.2M $557.5M
YoY Change 19.58% 19.94%
Goodwill $1.995B $1.999B
YoY Change 2.36% 7.5%
Intangibles $644.7M $664.4M
YoY Change -6.61% 3.15%
Long-Term Investments $61.60M $69.60M
YoY Change -7.51% -3.2%
Other Assets $176.7M $144.8M
YoY Change 10.64% -11.6%
Total Long-Term Assets $3.450B $3.435B
YoY Change 3.17% 7.21%
TOTAL ASSETS
Total Short-Term Assets $2.318B $2.206B
Total Long-Term Assets $3.450B $3.435B
Total Assets $5.768B $5.641B
YoY Change 8.05% 7.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $554.7M $554.8M
YoY Change -2.67% 0.74%
Accrued Expenses $303.6M $425.4M
YoY Change -0.85% 51.01%
Deferred Revenue
YoY Change
Short-Term Debt $3.300M $1.800M
YoY Change -17.5% -68.97%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.071B $1.070B
YoY Change 0.84% 6.67%
LONG-TERM LIABILITIES
Long-Term Debt $1.440B $1.439B
YoY Change 0.17% 0.17%
Other Long-Term Liabilities $506.7M $388.0M
YoY Change -0.33% -26.89%
Total Long-Term Liabilities $1.946B $1.827B
YoY Change 0.04% -7.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.071B $1.070B
Total Long-Term Liabilities $1.946B $1.827B
Total Liabilities $3.018B $3.020B
YoY Change 0.32% 1.68%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.739B $2.621B
YoY Change
Total Liabilities & Shareholders Equity $5.768B $5.641B
YoY Change 8.05% 7.69%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $200.1M $206.3M
YoY Change 43.85% 69.1%
Depreciation, Depletion And Amortization $37.60M $36.90M
YoY Change -1.57% 6.34%
Cash From Operating Activities $193.9M $227.7M
YoY Change -9.48% 37.17%
INVESTING ACTIVITIES
Capital Expenditures $34.90M $35.50M
YoY Change -237.94% -273.17%
Acquisitions
YoY Change
Other Investing Activities $1.700M -$57.60M
YoY Change -100.97% 1500.0%
Cash From Investing Activities -$33.20M -$93.10M
YoY Change -83.5% 286.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -75.80M -74.10M
YoY Change 22.06% 9.29%
NET CHANGE
Cash From Operating Activities 193.9M 227.7M
Cash From Investing Activities -33.20M -93.10M
Cash From Financing Activities -75.80M -74.10M
Net Change In Cash 84.90M 60.50M
YoY Change -272.91% -18.35%
FREE CASH FLOW
Cash From Operating Activities $193.9M $227.7M
Capital Expenditures $34.90M $35.50M
Free Cash Flow $159.0M $192.2M
YoY Change -33.61% 3.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
1.18
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.82
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.57
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
46200000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
66100000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6500000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
7300000 usd
hubb Standard And Extended Product Warranty Expenditures Payments And Other
StandardAndExtendedProductWarrantyExpendituresPaymentsAndOther
6900000 usd
hubb Standard And Extended Product Warranty Expenditures Payments And Other
StandardAndExtendedProductWarrantyExpendituresPaymentsAndOther
7300000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
45800000 usd
CY2022Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
66100000 usd
CY2023Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
811200000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
13600000 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-700000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64200000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61400000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
65300000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62600000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1200000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1300000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
58900000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
53700000 usd
CY2023Q2 us-gaap Trading Securities
TradingSecurities
21600000 usd
CY2022Q4 us-gaap Trading Securities
TradingSecurities
18800000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64200000 usd
CY2023Q2 us-gaap Trading Securities
TradingSecurities
21600000 usd
CY2023Q2 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
21600000 usd
CY2023Q2 us-gaap Cash Flow Hedge Derivative Instrument Assets At Fair Value
CashFlowHedgeDerivativeInstrumentAssetsAtFairValue
100000 usd
CY2023Q2 us-gaap Cash Flow Hedge Derivative Instrument Liabilities At Fair Value
CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
400000 usd
CY2023Q2 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
336500000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61400000 usd
CY2022Q4 us-gaap Trading Securities
TradingSecurities
18800000 usd
CY2022Q4 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
18800000 usd
CY2022Q4 us-gaap Cash Flow Hedge Derivative Instrument Assets At Fair Value
CashFlowHedgeDerivativeInstrumentAssetsAtFairValue
1100000 usd
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
215200000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
3100000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
1900000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
2000000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
2400000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
1800000 usd
CY2022Q2 us-gaap Restructuring Charges
RestructuringCharges
1600000 usd
us-gaap Restructuring Charges
RestructuringCharges
2300000 usd
us-gaap Restructuring Charges
RestructuringCharges
3200000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
7900000 usd
us-gaap Restructuring Charges
RestructuringCharges
2300000 usd
us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
-4400000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
5800000 usd
CY2023Q2 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
16800000 usd
CY2022 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
10300000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2300000 usd
CY2023Q2 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
4200000 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1439100000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1437900000 usd
CY2023Q2 us-gaap Debt Current
DebtCurrent
1800000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
4700000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
9700000 shares
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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