HUBB Earnings Report: Q2 2026 Results and Raised Guidance

HUBB posted second-quarter sales of $1.71 billion, up 15.3% year over year and ahead of estimates, with adjusted EPS of $5.52 coming in about 2.4% above consensus. The company raised full-year adjusted EPS guidance to a range of roughly $20.25 to $20.55, a midpoint near $20.40 and well above the $19.89 analysts had modeled.

Organic growth of about 10% drove most of the 15.3% sales increase, with acquisitions adding about 5 points, and NSI Industries is the newest of them. Hubbell closed the roughly $3.0 billion deal on June 9, adding a supplier of electrical fittings, connectors, components and wire management products with expected 2026 revenue of about $570 million. Management expects it to be accretive to adjusted EPS this year. The deal was funded with a $900 million unsecured term loan, $1.9 billion of senior notes and commercial paper.

Underneath the acquisition, organic momentum also improved: Hubbell lifted its full-year outlook to total sales growth of 16% to 18%, including organic sales growth of 9% to 11%. That distinction matters, because a beat carried entirely by an acquisition tells you less about end-market demand in electrical infrastructure than one where the base business is also accelerating.

The offsetting consideration is the balance sheet. Financing a $3 billion acquisition largely with debt raises interest expense and leaves less room for the bolt-on activity Hubbell has historically used to compound growth. Watch the integration cadence on NSI and the pace of deleveraging over the next several quarters.