Stock Analysis on Net

Hubbell Inc. (NYSE:HUBB)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Analysis of Revenues 

Microsoft Excel

Revenues as Reported

Hubbell Inc., income statement, revenues

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Utility T&D Components 2,218,800 1,679,800 1,445,100
Utility Communications and Controls 652,300 654,600 634,300
Utility Solutions 2,871,100 2,334,400 2,079,400
Electrical Products 902,400 809,600 663,900
Connection and Bonding 608,700 525,300 430,200
Industrial Controls 337,700 257,800 236,200
Retail and Builder 228,000 267,000 272,800
Electrical Solutions 2,076,800 1,859,700 1,603,100
Net sales 4,947,900 4,194,100 3,682,500

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).


The analysis of the annual revenue data reveals several noteworthy trends across the company’s product segments and overall net sales over the period from 2020 to 2022.

Utility T&D Components
This segment experienced consistent growth, increasing from 1,445,100 thousand US dollars in 2020 to 1,679,800 thousand in 2021, and further to 2,218,800 thousand in 2022. The growth rate accelerated notably in the final year, indicating strong market demand or expanded operations within this segment.
Utility Communications and Controls
The revenue in this category remained relatively stable, with minor fluctuations. It rose slightly from 634,300 thousand in 2020 to 654,600 thousand in 2021, but then marginally declined to 652,300 thousand in 2022. This stability suggests a mature segment with limited growth but consistent revenue generation.
Utility Solutions
This area showed solid growth, starting at 2,079,400 thousand in 2020, increasing to 2,334,400 thousand in 2021, and further to 2,871,100 thousand in 2022. The expansion in this segment aligns with overall growth trends seen in the utility-related product lines.
Electrical Products
This segment saw steady increases, climbing from 663,900 thousand in 2020 to 809,600 thousand in 2021, and reaching 902,400 thousand in 2022. The upward trajectory suggests a strengthening market presence or enhanced product offerings.
Connection and Bonding
Revenue exhibited continuous growth, rising from 430,200 thousand in 2020 to 525,300 thousand in 2021, and then to 608,700 thousand in 2022. The consistent increase points to expanding business activities or increased demand in this specialized segment.
Industrial Controls
This category displayed an increasing trend, with sales growing from 236,200 thousand in 2020 to 257,800 thousand in 2021, then significantly to 337,700 thousand in 2022. The accelerated growth in the last year indicates improving performance or market expansion.
Retail and Builder
Contrary to other segments, this area demonstrated a declining trend, with revenues decreasing from 272,800 thousand in 2020 to 267,000 thousand in 2021, and further down to 228,000 thousand in 2022. This decline might suggest challenges in the retail market or shifts in company focus.
Electrical Solutions
The segment experienced consistent revenue growth, increasing from 1,603,100 thousand in 2020 to 1,859,700 thousand in 2021, and to 2,076,800 thousand in 2022. This steady increase reflects positively on the company’s electrical solutions offerings.
Net Sales
Overall, net sales showed robust growth throughout the period, climbing from 3,682,500 thousand in 2020 to 4,194,100 thousand in 2021, and reaching 4,947,900 thousand in 2022. This upward trend highlights the company's expanding revenue base and successful market engagement.