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Hubbell Inc
4/30/2026
Good day and thank you for standing by. Welcome to the first quarter 2026 Hubble incorporated earnings conference call. At this time, all participants are in a listen only mode. After the speaker's presentation, there will be a question and answer session. To participate, you will need to press star 1 1 on your telephone. You will then hear a message advising your hand is raised. To withdraw the question, simply press star 1 1 again. please see advice that today's conference is being recorded. Now, it's my pleasure to hand the conference over to the Senior Director of Investor Relations, Dan Inamorato. Please proceed.
Thanks, Operator. Good morning, everyone, and thank you for joining us. Earlier this morning, we issued a press release announcing our results for the first quarter of 2026. The press release and slides are posted to the investor section of our website at hubble.com. I'm joined today by our Chairman, President, and CEO, Gervin Bakker, and our CFO, Joe Capozzoli. Please note our comments this morning may include statements related to the expected future results of our company. These are forward-looking statements defined by the Private Securities Litigation Reform Act of 1995. Please note the discussion of forward-looking statements in our press release and consider it incorporated by reference to this call. Additionally, comments may also include non-GAAP financial measures. Those measures are reconciled to the comparable GAAP measures which are included in the press release and slides. Now let me turn the call over to Gervin.
Great. Thanks, Dan, and good morning, everyone, and thank you for joining us to discuss Hubbell's first quarter 2026 results. Hubbell delivered strong financial performance to begin the year with double-digit growth in sales, adjusted operating profit, and adjusted earnings per share. Organic growth of 8% in the first quarter was driven by double-digit organic growth in our electrical solution segment as well as our grid infrastructure businesses within the utility solution segment. Our core utility T&D markets remain strong, with highly visible load growth driving continued strong demand in transmission and substation markets, and aging infrastructure resiliency investments driving strong demand in distribution markets. Electrical solutions growth continues to be driven by strength in data center and light industrial markets, enabled by our leading brands and continued success in our strategy to compete collectively in high-growth verticals. We are raising our full-year 2026 outlook for total sales growth, organic sales growth, and adjusted earnings per share this morning. As we are confident, Hubble's strong position in attractive end markets and continued execution of our long-term strategy will enable us to execute through a dynamic operating environment. Before I turn the call over to Joe to walk you through our financial performance in more detail, I would like to highlight an emerging growth opportunity for Hubble in high-voltage transmission, a long-term megatrend that sits squarely in our core, and we are demonstrating early success in a multi-year investment cycle. As background, 765 kV transmission represents one of the most efficient methods to move large amounts of power over long distances in order to accommodate accelerating electricity demand from electrification and load growth. Operating transmission lines at higher voltages enables utilities to deliver more power per line with lower losses and fewer space requirements. For Hubble, high-voltage transmission represents a significant multiyear opportunity which is largely incremental to existing strength in traditional 345 kV transmission markets. Our leading position and strong customer relationships position us well to capture this opportunity, and we are demonstrating early success with several key project wins supporting this initial phase of high voltage transmission buildup. Additionally, our portfolio depth and breadth positions us as a preferred partner who customers can trust to provide a full package of critical components. This solutions offering enables high service levels and reliability while driving installation efficiency and ease of doing business for our customers. We are actively investing to support future growth in this market, including development and testing of new product offerings in collaboration with major customers, as well as in capacity expansion investments. Overall, we believe 765 kV transmission represents an addressable market opportunity of approximately $1.5 billion over the next 10 years, and we believe we are well-positioned to serve this attractive long-term investment cycle. With that, let me turn the call over to Joe to provide more details on our financial results.
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