Name: Hubbell Inc. (NYSE:HUBB) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Download chart

Hubbell Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Net sales	1,375,800)	1,365,900)	1,285,400)	1,219,600)	1,316,200)	1,256,000)	1,156,100)	1,100,100)	1,083,400)	1,054,300)	956,300)	1,037,900)	1,108,600)	949,200)	1,090,300)	1,103,300)	1,204,000)	1,196,400)	1,087,300)	1,144,100)	1,179,700)	1,166,700)	991,200)
Cost of goods sold	(888,400)	(869,700)	(837,100)	(852,800)	(917,700)	(872,800)	(833,000)	(810,200)	(782,300)	(756,000)	(694,100)	(752,200)	(779,000)	(668,700)	(776,800)	(777,300)	(842,000)	(839,000)	(780,000)	(823,500)	(830,700)	(818,800)	(708,300)
Gross profit	487,400)	496,200)	448,300)	366,800)	398,500)	383,200)	323,100)	289,900)	301,100)	298,300)	262,200)	285,700)	329,600)	280,500)	313,500)	326,000)	362,000)	357,400)	307,300)	320,600)	349,000)	347,900)	282,900)
Selling & administrative expenses	(211,100)	(208,400)	(199,500)	(194,800)	(194,900)	(192,600)	(180,200)	(155,600)	(155,200)	(156,100)	(152,300)	(165,900)	(166,700)	(149,000)	(194,700)	(190,100)	(189,100)	(190,500)	(186,400)	(184,000)	(185,200)	(191,000)	(183,300)
Operating income	276,300)	287,800)	248,800)	172,000)	203,600)	190,600)	142,900)	134,300)	145,900)	142,200)	109,900)	119,800)	162,900)	131,500)	118,800)	135,900)	172,900)	166,900)	120,900)	136,600)	163,800)	156,900)	99,600)
Interest expense, net	(7,800)	(9,200)	(9,700)	(11,700)	(12,100)	(12,700)	(13,100)	(13,300)	(13,600)	(12,600)	(15,200)	(14,500)	(15,000)	(15,700)	(15,100)	(17,700)	(17,000)	(17,200)	(17,500)	(17,900)	(18,400)	(18,800)	(17,300)
Gain (loss) on disposition of business	—)	—)	—)	—)	—)	—)	—)	—)	(100)	(6,800)	—)	—)	—)	—)	—)	—)	21,700)	—)	—)	—)	—)	—)	—)
Loss on extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	(16,800)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Pension charge	—)	—)	—)	(1,100)	(1,500)	(4,400)	—)	—)	—)	—)	—)	(1,000)	(6,600)	—)	—)	14,400)	—)	(22,900)	—)	—)	—)	—)	—)
Investment income	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,500)	—)	—)	—)	100)	—)	—)	—)
Other income (expense), net	(3,500)	(4,800)	(4,100)	(2,400)	800)	2,500)	3,600)	2,900)	800)	500)	1,200)	(2,700)	(2,300)	(2,800)	(3,800)	(3,200)	(9,600)	(3,200)	(5,400)	(4,100)	(2,900)	(4,100)	(6,500)
Other expense	(11,300)	(14,000)	(13,800)	(15,200)	(12,800)	(14,600)	(9,500)	(10,400)	(12,900)	(35,700)	(14,000)	(18,200)	(23,900)	(18,500)	(18,900)	(5,000)	(4,900)	(43,300)	(22,900)	(21,900)	(21,300)	(22,900)	(23,800)
Income from continuing operations before income taxes	265,000)	273,800)	235,000)	156,800)	190,800)	176,000)	133,400)	123,900)	133,000)	106,500)	95,900)	101,600)	139,000)	113,000)	99,900)	130,900)	168,000)	123,600)	98,000)	114,700)	142,500)	134,000)	75,800)
Provision for income taxes	(63,000)	(65,600)	(51,600)	(32,900)	(38,800)	(38,900)	(29,600)	(22,600)	(27,500)	(16,900)	(21,200)	(19,000)	(30,400)	(23,900)	(24,200)	(27,800)	(35,400)	(25,700)	(24,200)	(25,500)	(27,800)	(31,600)	(16,000)
Net income from continuing operations	202,000)	208,200)	183,400)	123,900)	152,000)	137,100)	103,800)	101,300)	105,500)	89,600)	74,700)	82,600)	108,600)	89,100)	75,700)	103,100)	132,600)	97,900)	73,800)	89,200)	114,700)	102,400)	59,800)
Income (loss) from discontinued operations, net of tax	—)	—)	—)	(18,300)	(11,200)	(13,600)	77,700)	18,100)	5,000)	7,000)	4,400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income	202,000)	208,200)	183,400)	105,600)	140,800)	123,500)	181,500)	119,400)	110,500)	96,600)	79,100)	82,600)	108,600)	89,100)	75,700)	103,100)	132,600)	97,900)	73,800)	89,200)	114,700)	102,400)	59,800)
Net income attributable to noncontrolling interest	(1,900)	(1,400)	(1,500)	(1,000)	(1,700)	(1,500)	(1,300)	(1,800)	(2,100)	(800)	(1,400)	(1,700)	(1,500)	(900)	(700)	(1,200)	(1,900)	(1,900)	(1,500)	(1,200)	(1,100)	(2,100)	(1,500)
Net income attributable to Hubbell Incorporated	200,100)	206,800)	181,900)	104,600)	139,100)	122,000)	180,200)	117,600)	108,400)	95,800)	77,700)	80,900)	107,100)	88,200)	75,000)	101,900)	130,700)	96,000)	72,300)	88,000)	113,600)	100,300)	58,300)

Financial performance over the analyzed period reflects a trajectory of recovery and significant expansion, particularly from 2021 through the third quarter of 2023. While revenue remained relatively stable between 2018 and 2019, a notable contraction occurred during the second quarter of 2020, followed by a consistent upward trend in both top-line and bottom-line results.

Revenue and Sales Growth: Net sales exhibited moderate volatility between 2018 and 2020, hitting a period low of 949.2 million USD in June 2020. However, a strong growth phase began in 2022, with sales ascending from 1.156 billion USD in March 2022 to a peak of 1.375 billion USD by September 2023. This represents a substantial increase in market scale compared to the 2018 baseline.
Profitability and Margin Expansion: Gross profit growth has significantly outpaced revenue growth, indicating an expansion in gross margins. Gross profit rose from 282.9 million USD in March 2018 to 487.4 million USD in September 2023. Operating income followed a similar trajectory, increasing from 99.6 million USD in early 2018 to 276.3 million USD in the final analyzed quarter. This suggests improved pricing power or more efficient cost of goods sold management.
Operating Expense Analysis: Selling and administrative expenses remained remarkably stable for several years, fluctuating generally between 150 million USD and 190 million USD. Although these expenses increased to 211.1 million USD by September 2023, the rate of increase was significantly lower than that of net sales. This divergence demonstrates positive operating leverage, where revenue growth is achieved without a proportional increase in overhead costs.
Financial Costs and Non-Operating Items: A consistent downward trend is observed in net interest expenses, which declined from 17.3 million USD in March 2018 to 7.8 million USD in September 2023. This reduction in financing costs has contributed positively to the pre-tax income. Other income and expense items remained volatile, including a significant one-time gain on the disposition of business in September 2019 and varied impacts from discontinued operations throughout 2021 and 2022.
Net Income Trajectory: Net income attributable to Hubbell Incorporated shows a strong upward trend, growing from 58.3 million USD in March 2018 to 200.1 million USD in September 2023. The acceleration in net income is most pronounced in 2023, where quarterly results consistently exceeded 180 million USD, reflecting the combined impact of higher sales, expanded margins, and lower interest obligations.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Hubbell Inc. (NYSE:HUBB)

Income StatementQuarterly Data

Income Statement
Quarterly Data