Double-Digit Adjusted EPS Growth
Hubbell delivered double-digit adjusted earnings per share growth in the second quarter, driven by strong organic growth in Grid Infrastructure and Electrical Solutions, as well as a year-over-year adjusted operating margin expansion of 120 basis points.
Organic Growth in Grid Infrastructure
Utility Solutions segment saw a 7% organic growth in grid infrastructure, with strong transmission and substation markets and a recovery in distribution markets.
Raising Full Year Outlook
Hubbell raised its full year adjusted earnings per share outlook to a range of $17.65 to $18.15, representing a raise of $0.30 at both the low and high end of the prior outlook range.
Mid-Single-Digit Organic Growth in Electrical Solutions
Electrical Solutions segment delivered mid-single-digit organic growth, with a 9% adjusted operating profit growth. Strong performance noted in data centers and light industrial markets.