Analysis of Geographic Areas
Hubbell Inc. operates in 2 regions: United States and International.
Area Profit Margin
Hubbell Inc., profit margin by geographic area
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| United States | 13.19% | 11.54% | 12.34% | 12.64% | 11.83% |
| International | 26.88% | 24.12% | 17.44% | 16.70% | 17.89% |
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 profit margin data across geographic areas reveals distinct trends over the five-year period ending in 2022. Analyzing the United States segment, the profit margin exhibited relatively stable performance with modest fluctuations. Starting at 11.83% in 2018, the margin saw a gradual increase to 12.64% in 2019, followed by a slight decline to 12.34% in 2020. Subsequently, it decreased further to 11.54% in 2021 but rebounded significantly to 13.19% in 2022, marking the highest margin within the observed period.
In contrast, the International segment demonstrated more pronounced variability and an overall upward trajectory. The margin was 17.89% in 2018 and slightly decreased to 16.7% in 2019. However, it recovered to 17.44% in 2020 and then exhibited substantial growth in the following years, reaching 24.12% in 2021 and further increasing to 26.88% in 2022. This growth trend indicates a strong enhancement in profitability in international markets, significantly outpacing the gains seen in the U.S. segment.
Comparatively, the International profit margin consistently exceeded the U.S. margin throughout the period, with the gap notably widening in the last two years. The sharp rise in international profitability in 2021 and 2022 suggests effective strategies or favorable conditions impacting the company’s operations outside the United States.
- United States Segment
- Moderate fluctuations with a slight downward dip in 2021 followed by a recovery to peak profitability in 2022.
- International Segment
- Initial minor decline from 2018 to 2019, followed by a strong and continuous upward trend from 2020, culminating in a substantial profit margin increase by 2022.
- Comparative Insight
- International margins consistently outperformed U.S. margins, with the gap widening significantly during the last two years, indicating stronger international market performance.
Area Profit Margin: United States
Hubbell Inc.; United States; area profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 598,500) | 439,600) | 476,200) | 529,700) | 478,000) |
| Net sales | 4,536,400) | 3,809,800) | 3,860,400) | 4,190,500) | 4,040,600) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 13.19% | 11.54% | 12.34% | 12.64% | 11.83% |
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).
1 2022 Calculation
Area profit margin = 100 × Operating income ÷ Net sales
= 100 × 598,500 ÷ 4,536,400 = 13.19%
Over the five-year period, the operating income demonstrates variability with a peak in 2019, followed by a decline in 2020 and 2021, and a significant recovery by the end of 2022, reaching the highest value within the observed timeframe. Net sales exhibit a general downward trend from 2019 through 2021, starting from a high point and experiencing a trough in 2021, before rebounding substantially in 2022 to exceed levels observed in earlier years.
The area profit margin shows moderate fluctuations throughout the years. It increased from 2018 to 2019, then slightly decreased in 2020 and 2021, reflecting a contraction in profitability. However, by 2022, the margin improved markedly, reaching the highest percentage in the period analyzed, indicating enhanced operational efficiency or cost management relative to sales.
- Operating Income
- Experienced an initial increase from 2018 to 2019, decreased over the next two years, and recovered strongly in 2022.
- Net Sales
- Showed a downward trend between 2019 and 2021, with a notable rebound in 2022 to the highest recorded sales in the period.
- Area Profit Margin
- Increased through 2019, then declined in the following two years before recovering to the highest level in 2022, suggesting improved profitability.
Overall, the data indicates that the company experienced a period of sales and income contraction from 2019 to 2021, possibly due to market or operational challenges, followed by a strong recovery in 2022 highlighted by increased sales, improved profitability, and a resurgence in operating income.
Area Profit Margin: International
Hubbell Inc.; International; area profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 110,600) | 92,700) | 56,800) | 66,900) | 78,900) |
| Net sales | 411,500) | 384,300) | 325,600) | 400,500) | 441,100) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 26.88% | 24.12% | 17.44% | 16.70% | 17.89% |
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).
1 2022 Calculation
Area profit margin = 100 × Operating income ÷ Net sales
= 100 × 110,600 ÷ 411,500 = 26.88%
The analysis of the International geographic area's annual financial data reveals several notable trends over the five-year period ending in 2022.
- Operating Income
- Operating income demonstrated a fluctuating trajectory, beginning at 78.9 million USD in 2018, followed by a continuous decline through 2019 and 2020 to 66.9 million USD and 56.8 million USD respectively.
- This downward trend reversed in 2021 with a significant increase to 92.7 million USD, continuing upward to reach 110.6 million USD in 2022, the highest in the period observed.
- Net Sales
- Net sales followed a somewhat similar downtrend at the outset, decreasing from 441.1 million USD in 2018 to a low of 325.6 million USD in 2020.
- Thereafter, sales resumed growth, climbing to 384.3 million USD in 2021 and further to 411.5 million USD in 2022, although sales had not yet returned to the initial 2018 level by the end of the period.
- Area Profit Margin
- The area profit margin showed modest variability in the earlier years, with a slight dip from 17.89% in 2018 to 16.7% in 2019, then a recovery to 17.44% in 2020.
- A sharp improvement was noted in 2021, with the margin increasing substantially to 24.12%, followed by continued growth to 26.88% in 2022, indicating enhanced profitability relative to sales.
Overall, the data suggests that the International geographic area faced challenges impacting sales and operating income from 2018 through 2020. However, significant improvement occurred starting in 2021, marked by robust growth in operating income and profit margins alongside recovering sales, highlighting improved operational efficiency and profitability.
Area Return on Assets (Area ROA)
Hubbell Inc., ROA by geographic area
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| United States | 20.06% | 14.47% | 15.29% | 17.95% | 16.08% |
| International | 28.19% | 25.82% | 15.00% | 17.97% | 32.20% |
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).
- United States ROA Trend
- The return on assets (ROA) for the United States exhibits a fluctuating pattern over the observed period. Starting at 16.08% in 2018, it increased to 17.95% in 2019, then declined over the next two years to 15.29% in 2020 and 14.47% in 2021. In 2022, there was a notable rebound, with ROA rising sharply to 20.06%, indicating an improvement in asset profitability in the most recent year.
- International ROA Trend
- The international segment shows more variability in ROA across the years. It began at a high level of 32.2% in 2018 but dropped significantly to 17.97% in 2019 and continued a slight decline to 15% in 2020. A considerable recovery occurred in 2021, with ROA increasing to 25.82%, followed by a further moderate rise to 28.19% in 2022. Overall, while the international ROA remains above the United States level in most years, it experienced more pronounced volatility.
- Comparative Insights
- Both geographic areas show declines in 2019 and 2020, likely reflecting broader economic or operational challenges during that timeframe. The international segment's ROA is consistently higher than that of the United States except for 2019 and 2020 when the figures converged. The recovery from 2021 onwards is strong in both regions, with the United States showing a more dramatic increase in 2022. This suggests improved asset utilization or profitability enhancements in both areas, with the international segment possibly benefiting from higher margins or growth opportunities.
Area ROA: United States
Hubbell Inc.; United States; area ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 598,500) | 439,600) | 476,200) | 529,700) | 478,000) |
| Long-lived assets | 2,983,500) | 3,038,100) | 3,113,700) | 2,950,400) | 2,972,400) |
| Area Profitability Ratio | |||||
| Area ROA1 | 20.06% | 14.47% | 15.29% | 17.95% | 16.08% |
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).
1 2022 Calculation
Area ROA = 100 × Operating income ÷ Long-lived assets
= 100 × 598,500 ÷ 2,983,500 = 20.06%
- Operating Income
- The operating income exhibited variability over the five-year period. Starting at $478,000 thousand in 2018, it increased to a peak of $529,700 thousand in 2019, followed by a decline to $476,200 thousand in 2020 and further down to $439,600 thousand in 2021. In 2022, there was a notable rebound to $598,500 thousand, marking the highest operating income within the timeline.
- Long-lived Assets
- The value of long-lived assets remained relatively stable throughout the years, with minor fluctuations. It started at $2,972,400 thousand in 2018, slightly decreased to $2,950,400 thousand in 2019, then increased to $3,113,700 thousand in 2020. This was followed by a decrease to $3,038,100 thousand in 2021 and a further decline to $2,983,500 thousand in 2022.
- Area Return on Assets (ROA)
- The area ROA showed some variation across the years. It increased from 16.08% in 2018 to 17.95% in 2019, then declined to 15.29% in 2020 and further to 14.47% in 2021. In 2022, there was a significant increase to 20.06%, indicating improved profitability and efficient asset utilization within the geographic area during that year.
Area ROA: International
Hubbell Inc.; International; area ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating income | 110,600) | 92,700) | 56,800) | 66,900) | 78,900) |
| Long-lived assets | 392,300) | 359,000) | 378,700) | 372,200) | 245,000) |
| Area Profitability Ratio | |||||
| Area ROA1 | 28.19% | 25.82% | 15.00% | 17.97% | 32.20% |
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).
1 2022 Calculation
Area ROA = 100 × Operating income ÷ Long-lived assets
= 100 × 110,600 ÷ 392,300 = 28.19%
The analysis of the International geographic area's financial data over the five-year period reveals several notable trends. Operating income exhibits a fluctuating pattern with an overall upward trajectory. It decreased from 78,900 thousand US$ in 2018 to 56,800 thousand US$ in 2020, indicating a decline in profitability during these years. However, a substantial recovery is observed subsequently, with operating income rising sharply to 92,700 thousand US$ in 2021 and further to 110,600 thousand US$ in 2022, surpassing the initial 2018 level.
Long-lived assets show a generally increasing trend, reflecting continuous or expanding investment or capital expenditure within the International area. Starting at 245,000 thousand US$ in 2018, assets grew significantly to 372,200 thousand US$ in 2019, followed by a modest increase to 378,700 thousand US$ in 2020. There was a slight decrease to 359,000 thousand US$ in 2021, but the figure rebounded to reach a peak of 392,300 thousand US$ in 2022. This fluctuation suggests active asset management, possibly involving both acquisitions and disposals of assets.
The Area Return on Assets (ROA) percentage displays considerable variability across the observed years. Beginning at a high of 32.2% in 2018, ROA dropped significantly over the following two years to 17.97% and then to 15%, corresponding with the period of declining operating income and rising assets. The ROA then increased notably to 25.82% in 2021 and further to 28.19% in 2022, reflecting improved efficiency in generating profits from the asset base during these years.
- Summary of key observations:
-
- Operating income decreased sharply from 2018 to 2020 but recovered strongly thereafter, reaching the highest level in 2022.
- Long-lived assets increased substantially from 2018 to 2019, remained relatively stable with minor fluctuations afterwards, ending at a new peak in 2022.
- Area ROA declined significantly through 2020, indicating reduced profitability relative to assets, then improved markedly in 2021 and 2022, suggesting enhanced operational efficiency.
Overall, despite a period of weaker profitability and lower asset efficiency around 2020, the subsequent years demonstrate a robust rebound in both operating income and return on assets, supported by sustained investment in long-lived assets. This indicates a positive recovery and potentially improved operational performance within the International geographic segment.
Area Asset Turnover
Hubbell Inc., asset turnover by geographic area
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| United States | 1.52 | 1.25 | 1.24 | 1.42 | 1.36 |
| International | 1.05 | 1.07 | 0.86 | 1.08 | 1.80 |
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).
- United States Asset Turnover
- The asset turnover ratio for the United States showed a fluctuating trend over the five-year period. Starting at 1.36 in 2018, it increased slightly to 1.42 in 2019. However, it declined to 1.24 in 2020 and remained relatively stable in 2021 with a slight increase to 1.25. In 2022, the ratio rose notably to 1.52, marking the highest value within the period analyzed. This indicates a general improvement in asset utilization efficiency in the United States in the most recent year after a period of decline and stability.
- International Asset Turnover
- The international asset turnover ratio experienced a downward trend initially, beginning at 1.80 in 2018 and decreasing sharply to 1.08 in 2019. The decline continued into 2020, reaching its lowest point at 0.86. Subsequently, the ratio improved to 1.07 in 2021 but slightly decreased again to 1.05 in 2022. This pattern suggests some recovery in asset turnover efficiency internationally after a significant downturn, yet the levels remained substantially below the starting point of 2018 throughout the latter years.
- Comparative Insights
- Comparing the two regions, the United States showed overall greater stability and a more favorable trend in asset turnover ratios, particularly with a notable increase in 2022. In contrast, the international area experienced greater volatility and a more pronounced decline, with only partial recovery observed. The divergence highlights regional differences in asset management effectiveness and possibly differing operational or market conditions affecting performance.
Area Asset Turnover: United States
Hubbell Inc.; United States; area asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 4,536,400) | 3,809,800) | 3,860,400) | 4,190,500) | 4,040,600) |
| Long-lived assets | 2,983,500) | 3,038,100) | 3,113,700) | 2,950,400) | 2,972,400) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.52 | 1.25 | 1.24 | 1.42 | 1.36 |
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).
1 2022 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 4,536,400 ÷ 2,983,500 = 1.52
- Net Sales
- The net sales exhibit fluctuations over the five-year period. Starting at approximately 4,040,600 thousand US dollars in 2018, sales increased slightly in 2019 to about 4,190,500 thousand. A decline followed in 2020 and 2021, with net sales dropping to 3,860,400 thousand and then to 3,809,800 thousand respectively. In 2022, a notable recovery occurred, with net sales rising sharply to 4,536,400 thousand, representing the highest value in the period under review.
- Long-Lived Assets
- Long-lived assets show modest variation during the period. In 2018, these assets were valued at roughly 2,972,400 thousand US dollars. A slight decline took place in 2019, followed by an increase to 3,113,700 thousand in 2020. Subsequently, there was a decrease through 2021 and 2022, ending at approximately 2,983,500 thousand. Overall, the asset base remained relatively stable with minor fluctuations.
- Area Asset Turnover
- The area asset turnover ratio, which measures efficiency in using assets to generate sales, demonstrates notable changes. It improved from 1.36 in 2018 to 1.42 in 2019, indicating enhanced efficiency. However, efficiency dropped in 2020 to 1.24 and remained stable in 2021 at 1.25. In 2022, the ratio rose significantly to 1.52, suggesting a substantial improvement in utilizing long-lived assets to generate revenue.
- Overall Analysis
- Over the five-year span, net sales and asset turnover experienced similar patterns, with initial improvements, mid-period declines, and a strong rebound in the final year. While long-lived assets remained relatively consistent, the sharp increase in sales and asset turnover in 2022 highlights improved operational efficiency and stronger market performance in the most recent period.
Area Asset Turnover: International
Hubbell Inc.; International; area asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net sales | 411,500) | 384,300) | 325,600) | 400,500) | 441,100) |
| Long-lived assets | 392,300) | 359,000) | 378,700) | 372,200) | 245,000) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.05 | 1.07 | 0.86 | 1.08 | 1.80 |
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).
1 2022 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 411,500 ÷ 392,300 = 1.05
- Net Sales
- Net sales display a declining trend from 2018 to 2020, falling from 441,100 thousand US dollars to 325,600 thousand US dollars. This reduction is followed by a recovery period from 2020 onwards, with sales increasing to 384,300 thousand US dollars in 2021 and further to 411,500 thousand US dollars in 2022. Despite the growth in the last two years, the 2022 sales figure remains below the 2018 level.
- Long-Lived Assets
- Long-lived assets show a rising trajectory over the observed period. The value starts at 245,000 thousand US dollars in 2018 and sees a noticeable increase to 372,200 thousand US dollars in 2019. This upward trend continues moderately through 2020 to 2022, reaching 392,300 thousand US dollars by the end of 2022, indicating ongoing or increased investment in long-term assets.
- Area Asset Turnover
- The area asset turnover ratio, which measures the efficiency of asset use to generate sales, decreases sharply from 1.8 in 2018 to 0.86 in 2020. Following this decline, the ratio improves somewhat in 2021 and 2022 to 1.07 and 1.05 respectively. Despite this recovery, the ratio does not return to the high level observed in 2018, suggesting a relative decrease in asset utilization efficiency over the period.
- Overall Trend and Insights
- The data indicates a period of contraction in sales and asset efficiency from 2018 through 2020, with a partial rebound thereafter. The increasing long-lived assets suggest continued capital investment despite the downturn in sales and asset turnover. This may imply strategic positioning for future growth or a shift in asset composition. However, the sustained lower asset turnover ratio compared to 2018 points to a reduced efficiency in utilizing assets to generate sales, which could merit further analysis regarding operational effectiveness.
Net sales
Hubbell Inc., net sales by geographic area
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| United States | 4,536,400) | 3,809,800) | 3,860,400) | 4,190,500) | 4,040,600) |
| International | 411,500) | 384,300) | 325,600) | 400,500) | 441,100) |
| Total | 4,947,900) | 4,194,100) | 4,186,000) | 4,591,000) | 4,481,700) |
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).
- United States Net Sales
- The net sales in the United States showed an initial increase from approximately 4,040,600 thousand US dollars in 2018 to 4,190,500 thousand US dollars in 2019. Subsequently, there was a decline in sales to around 3,860,400 thousand US dollars in 2020, which continued slightly in 2021, reaching approximately 3,809,800 thousand US dollars. In 2022, a notable recovery occurred, with net sales rising significantly to about 4,536,400 thousand US dollars.
- International Net Sales
- International net sales experienced a decreasing trend from 441,100 thousand US dollars in 2018 to 400,500 thousand US dollars in 2019, followed by a more pronounced decline to 325,600 thousand US dollars in 2020. However, the sales figures showed an improvement in the subsequent years, increasing to 384,300 thousand US dollars in 2021 and further to 411,500 thousand US dollars in 2022.
- Total Net Sales
- The total net sales mirrored the patterns observed in the US and international segments, starting at 4,481,700 thousand US dollars in 2018 and rising to 4,591,000 thousand US dollars in 2019. A decline was noted in 2020, with total sales dropping to 4,186,000 thousand US dollars, followed by a marginal increase to 4,194,100 thousand US dollars in 2021. The year 2022 saw a considerable increase in total net sales, reaching 4,947,900 thousand US dollars. This growth in 2022 reflects the recovery evident in both domestic and international markets.
- Summary of Trends
- Overall, the data reveals fluctuation in net sales across both geographic areas over the five-year period. The years 2019-2020 marked a downturn in net sales in both the United States and international markets, likely influenced by external factors affecting demand or operations. Recovery trends appeared in 2021 and became more pronounced in 2022, with the United States contributing the largest share to the net sales increase. The international segment also showed resilience with a steady rebound after the 2020 low. The consistent upward movement in 2022 suggests an overall strengthening in sales performance across all regions.
Operating income
Hubbell Inc., operating income by geographic area
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| United States | 598,500) | 439,600) | 476,200) | 529,700) | 478,000) |
| International | 110,600) | 92,700) | 56,800) | 66,900) | 78,900) |
| Total | 709,100) | 532,300) | 533,000) | 596,600) | 556,900) |
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).
- United States Operating Income
- The operating income in the United States showed a generally fluctuating trend over the five-year period. It started at 478,000 thousand US dollars in 2018, increased to a peak of 529,700 thousand US dollars in 2019, and then declined in the subsequent years to 476,200 thousand in 2020 and further down to 439,600 thousand in 2021. In 2022, there was a notable rebound, with operating income rising sharply to 598,500 thousand US dollars, which is the highest recorded value during the period.
- International Operating Income
- International operating income exhibited a more variable pattern. Beginning at 78,900 thousand US dollars in 2018, it decreased steadily over the next two years to 66,900 thousand in 2019 and 56,800 thousand in 2020. However, this downward trend reversed in 2021, with a significant increase to 92,700 thousand US dollars, followed by further growth to 110,600 thousand US dollars in 2022, marking the highest international income in the time frame provided.
- Total Operating Income
- The total operating income corresponded closely with the combined trends of the United States and International segments. It rose from 556,900 thousand US dollars in 2018 to 596,600 thousand in 2019, before declining to 533,000 thousand in 2020 and a slight further reduction to 532,300 thousand in 2021. The total income increased markedly in 2022 to 709,100 thousand US dollars, surpassing all previous periods and reflecting strong recovery and growth particularly influenced by both geographic areas' gains.
- Overall Insights
- The data indicates that both domestic and international operations experienced declines during 2020 and 2021, likely due to external challenges impacting profitability. The recovery in 2022 is evident and robust, with the United States segment showing a significant increase and the international segment achieving a substantial rebound beyond prior levels. This recovery boosted the overall operating income to its highest point in the evaluated span. The upward trend in 2022 suggests improved operational efficiency, market conditions, or successful strategic initiatives influencing profitability across geographic regions.
Long-lived assets
Hubbell Inc., long-lived assets by geographic area
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| United States | 2,983,500) | 3,038,100) | 3,113,700) | 2,950,400) | 2,972,400) |
| International | 392,300) | 359,000) | 378,700) | 372,200) | 245,000) |
| Total | 3,375,800) | 3,397,100) | 3,492,400) | 3,322,600) | 3,217,400) |
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 long-lived assets over the given five-year period reveals several key trends by geographic area. The data is segmented into United States, International, and Total assets, measured in thousands of US dollars.
- United States Long-Lived Assets
- The value of long-lived assets in the United States demonstrates a slight fluctuation throughout the period. Starting at 2,972,400 thousand USD at the end of 2018, the amount slightly decreased to 2,950,400 thousand USD in 2019. It then increased to a peak of 3,113,700 thousand USD in 2020, followed by a decline to 3,038,100 thousand USD in 2021 and further decreased to 2,983,500 thousand USD by the end of 2022. Overall, the trend shows minor volatility with a marginal decline from the 2018 base figure.
- International Long-Lived Assets
- International assets, while significantly smaller in magnitude compared to domestic assets, show a generally increasing trend over the period. Beginning at 245,000 thousand USD in 2018, there was a notable rise to 372,200 thousand USD in 2019, indicating substantial growth. This upward trend continued modestly to 378,700 thousand USD in 2020, followed by a small decline to 359,000 thousand USD in 2021. The year 2022 saw a recovery to 392,300 thousand USD, the highest in the series, reflecting continued investment or expansion in international markets.
- Total Long-Lived Assets
- The total long-lived assets combine the trends of domestic and international figures. The total value increased steadily from 3,217,400 thousand USD in 2018 to a peak of 3,492,400 thousand USD in 2020. After a decline to 3,397,100 thousand USD in 2021 and a slight reduction again to 3,375,800 thousand USD in 2022, the total assets remain higher than the initial 2018 value. This pattern suggests moderate growth with some volatility in the final two years.
In summary, the data reflects a relatively stable domestic asset base with minor fluctuations, contrasted by a more dynamic and growing international asset presence. The overall total long-lived assets show growth over the five-year span, driven largely by international increases despite slight declines in recent years. These observations may indicate strategic shifts or operational adjustments, particularly regarding the international segment's role in the asset portfolio.