Hubbell Lifts 2026 Profit Outlook on Data Center Boom, Q2 Beats
HUBB sits 26% above its 52-week low of $403.82.
Summary
Hubbell raised its 2026 adjusted EPS guidance to $20.25-$20.55, up from $19.30-$19.85, driven by surging demand from data centers and grid modernization. Q2 adjusted EPS of $5.52 beat the $5.38 consensus, and revenue of $1.71B topped the $1.65B estimate. The electrical segment saw 25% sales growth to $686M, while utility solutions rose 10% to $1.03B. CEO Gerben Bakker cited 10% organic growth from megatrends in grid investment and AI-driven datacenter buildout. This follows the April Q1 beat and the $3B NSI Industries acquisition closed in June, reinforcing the company's strong position in electrification. Shares rose over 1% premarket, reflecting the raised outlook and broad-based strength.
At the time of this announcement, HUBB was trading at $508.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $26.3B. The 52-week trading range was $403.82 to $565.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.