- How Hubbell (HUBB) Is Expanding Around AI-Driven Electrical Infrastructure Demand
May 13, 2026
Hubbell Incorporated (NYSE:HUBB) is one of the best grid modernization stocks to buy for AI infrastructure.
On May 4, Hubbell Incorporated (NYSE:HUBB) announced a definitive agreement to acquire NSI Industries for $3.0 billion in cash. NSI makes electrical fittings, connectors, components, and wire-management products for industrial, infrastructure, and commercial markets, and Hubbell said the deal would strengthen its Electrical Solutions portfolio. The company also said NSI’s products fit growth areas, including light industrial, datacenter, and network infrastructure applications, with NSI expected to generate about $570 million in revenue in 2026.How Hubbell (HUBB) Is Expanding Around AI-Driven Electrical Infrastructure Demand
The acquisition gives Hubbell a more direct way to expand into the physical electrical products needed as AI infrastructure raises power density and connection complexity. That matters because the company’s grid-related demand is already strong. In its April 30 update, Hubbell said Grid Infrastructure net sales rose about 18% in the first quarter, while core utility transmission and distribution markets remained strong, with load growth supporting transmission and substation demand. The company also said Electrical Solutions’ growth was helped by strong datacenter and light industrial markets.
Hubbell Incorporated (NYSE:HUBB) manufactures utility and electrical solutions, including transmission and distribution components, connectors, switchgear, grid automation products, wiring devices, lighting controls, and related infrastructure equipment.
While we acknowledge the potential of HUBB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
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- Is Eaton Corporation plc (ETN) A Good Stock To Buy Now?
May 13, 2026
Is ETN a good stock to buy? We came across a bullish thesis on Eaton Corporation plc on The Boring Finance Guy’s Substack. In this article, we will summarize the bulls’ thesis on ETN. Eaton Corporation plc's share was trading at $422.44 as of May 4th. ETN’s trailing and forward P/E were 40.72 and 31.95 respectively according to Yahoo Finance.CoreWeave (CRWV) Climbs 22.6% on 'Buy' From Citigroup
Suwin/Shutterstock.com
Eaton Corporation plc (ETN) has evolved from a legacy industrial vehicle components supplier into a high-quality “picks and shovels” enabler of the AI infrastructure supercycle, electrification, and global grid modernization. The business is now increasingly defined by its Electrical and Aerospace segments, with Electrical Americas and Electrical Global serving as the primary growth engines.
Read More: 15 AI Stocks That Are Quietly Making Investors Rich
Read More: Undervalued AI Stock Poised For Massive Gains: 10000% Upside Potential
These divisions are directly exposed to hyperscale data center expansion, utility grid upgrades, and North American reindustrialization, supported by a record backlog linked to roughly 200GW of power infrastructure demand and a book-to-bill ratio above 1.0. This demand visibility has translated into strong operating performance, with total segment margins reaching 24.5% and Electrical Americas margins near 30%, reflecting pricing power in a supply-constrained transformer and grid equipment market.
A major strategic catalyst is the planned full spin-off of the Mobility business by early 2027, announced in March 2026, which will reposition Eaton as a more focused electrical and aerospace pure-play. This separation is expected to improve growth consistency and margin quality by removing a lower-growth cyclical segment. The Aerospace business, strengthened by the Ultra PCS acquisition, adds high-barrier sensing and control capabilities, reinforcing exposure to defense and aviation demand.
Despite strong fundamentals, valuation remains the key constraint. Eaton trades near a trailing P/E of ~40x with a PEGY ratio above 4, implying elevated expectations relative to historical growth. Risks include grid interconnection delays, hyperscaler capex concentration, and copper price volatility, all of which could pressure backlog conversion and margins.
Management under CEO Paulo Ruiz continues disciplined capital allocation, including a large buyback program, but recent insider selling and analyst target reductions highlight stretched sentiment. Overall, Eaton is a structurally strong AI infrastructure beneficiary, but at current levels the stock reflects much of its optimism, leaving a more attractive risk-reward closer to the mid-$300 range with bull case scenario price target of $515.
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Previously, we covered a bullish thesis on Hubbell Incorporated (HUBB) by Stock Analysis Compilation in December 2024, which highlighted grid modernization and energy transition tailwinds in electrical infrastructure. HUBB's stock price has appreciated by approximately 10.46% since our coverage. The Boring Finance Guy shares a similar view but emphasizes Eaton Corporation plc’s AI infrastructure and hyperscale data center exposure versus Hubbell’s utility-focused grid components.
Eaton Corporation plc is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 87 hedge fund portfolios held ETN at the end of the fourth quarter which was 72 in the previous quarter. While we acknowledge the risk and potential of ETN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ETN and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
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- Hubbell: Robust Markets, But High Valuation And Margin Concerns Create Some Headwinds
May 7, 2026 · seekingalpha.com
Hubbell shows strong operational momentum and continues to execute on accretive M&A, but valuation constrains my enthusiasm. Q1 results featured 8% organic revenue growth and improved margins, yet margin concerns and muted EPS guidance growth hit short-term sentiment. NSI Industries acquisition is highly synergistic, likely boosting EBITDA margins to 26%-27% over the next two to three years.
- Sentinel Capital Partners to Sell NSI Industries
May 6, 2026
Transformation to a Pure-Play Electrical Platform Drives Value Creation
NEW YORK, May 6, 2026 /PRNewswire/ -- Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced it has signed a definitive agreement to sell NSI Industries, a leading manufacturer and supplier of branded electrical products, to Hubbell Incorporated (NYSE: HUBB) for $3.0 billion.
NSI is a category-leading provider of branded replenishment electrical power components serving industrial, infrastructure, and commercial end markets. Its core offering of electrical fittings, connectors, components, and wire management products is sold under the iconic brands Bridgeport, Polaris, and Tork through a network of third-party distributors and contractors. NSI has delivered impressive and consistent sales growth, driven by steady, replacement-driven demand and an expanding presence in high-growth end markets, including digital infrastructure and electrification applications such as power utilities and datacenters.
Following Sentinel's 2024 acquisition of NSI, the firm executed a key strategic initiative by divesting NSI's HVAC division to Lennox International for approximately $550 million. This repositioned NSI as a pure-play manufacturer of branded electrical products, enabling greater operational focus and unlocking significant value.
"It's been a privilege working with the NSI team," said John Van Sickle, a Sentinel partner. "Together, we executed a focused strategy that strengthened NSI and its market position. NSI has a bright future ahead, and we wish the entire team continued success with Hubbell."
"I am grateful for Sentinel's support and partnership throughout their investment," said NSI's CEO, Mike Pruss. "Their expertise and resources aligned perfectly with our vision for growth and innovation, and helped us build a stronger, more focused business that is well-positioned for future success."
Sentinel's deep expertise in electrical manufacturing and distribution includes ECM Industries (electrical products for construction, maintenance, lighting, irrigation, landscape supply, and gas utility markets) and Power Products (diversified electrical products). Sentinel's broader expertise in industrial manufacturing and distribution includes investments in Chromalox (commercial and industrial electric heating products and systems), Engineered Controls (specialized pressure regulators, valves, and other controls), LTI Boyd (engineered sealing and thermal management components), RotoMetrics (rotary tooling products), Sonny's (conveyorized car wash systems and related products), and Spectrum Safety Solutions (fire detection and suppression products).
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Lincoln International and Baird are serving as financial advisors to Sentinel, and Kirkland & Ellis is providing legal counsel.
About NSI Industries
NSI Industries is a leading manufacturer and supplier of over 15,000 branded electrical products that are sold to over 2,000 distributors in North America. NSI Industries is made up of a portfolio of well-respected brands, including Bridgeport fittings, Polaris connectors, and Tork timers. NSI Industries is headquartered in Huntersville, North Carolina.
About Sentinel Capital Partners
Sentinel is a leading midmarket private equity firm. Working collaboratively with portfolio companies, Sentinel offers operational resources and strategic advice that help its management teams solve challenges, capitalize on opportunities, and build stronger, more valuable businesses. Sentinel also provides junior capital solutions as a minority investor.
Sentinel focuses on niche markets across the business services, consumer, healthcare services, and industrial sectors. Since its inception in 1995, Sentinel has raised more than $11.2 billion of capital. To learn more, please visit sentinelpartners.com.
About Hubbell Incorporated
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, Connecticut. For additional information, please visit: www.hubbell.com.
Contact: Roland Tomforde
Broadgate Consultants
212-232-2356Cision
View original content:https://www.prnewswire.com/news-releases/sentinel-capital-partners-to-sell-nsi-industries-302764004.html
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- Sentinel Capital Partners to Sell NSI Industries
May 6, 2026 · prnewswire.com
Transformation to a Pure-Play Electrical Platform Drives Value Creation NEW YORK, May 6, 2026 /PRNewswire/ -- Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced it has signed a definitive agreement to sell NSI Industries, a leading manufacturer and supplier of branded electrical products, to Hubbell Incorporated (NYSE: HUBB) for $3.0 billion. NSI is a category-leading provider of branded replenishment electrical power components serving industrial, infrastructure, and commercial end markets.
- SENTINEL CAPITAL PARTNERS TO SELL NSI INDUSTRIES
May 6, 2026
TRANSFORMATION TO A PURE-PLAY ELECTRICAL PLATFORM DRIVES VALUE CREATION NEW YORK, MAY 6, 2026 /PRNEWSWIRE/ -- SENTINEL CAPITAL PARTNERS, A PRIVATE EQUITY FIRM THAT INVESTS IN PROMISING MIDMARKET COMPANIES, TODAY ANNOUNCED IT HAS SIGNED A DEFINITIVE AGREEMENT TO SELL NSI INDUSTRIES, A LEADING MANUFACTURER AND SUPPLIER OF BRANDED ELECTRICAL PRODUCTS, TO HUBBELL INCORPORATED (NYSE: HUBB) FOR $3.0 BILLION. NSI IS A CATEGORY-LEADING PROVIDER OF BRANDED REPLENISHMENT ELECTRICAL POWER COMPONENTS SERVING INDUSTRIAL, INFRASTRUCTURE, AND COMMERCIAL END MARKETS.
- Hubbell to Buy NSI Industries for $3 Billion
May 4, 2026
Hubbell agreed to acquire NSI Industries for $3 billion, aiming to increase its offerings of critical infrastructure to its electrical and utility customers. - apu gomes/Agence France-Presse/Getty Images
Hubbell agreed to acquire NSI Industries for $3 billion, aiming to increase its offerings of critical infrastructure to its electrical and utility customers.
NSI, a portfolio company of Sentinel Capital Partners, provides electrical fittings, connectors, components and wire-management products.
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“As electrification megatrends drive attractive growth across the electrical industry over the next several years, NSI offers highly complementary products and industry-leading brands to our [Hubbell Electrical Solutions] portfolio across strategic growth verticals including light industrial, datacenter and network infrastructure applications,” said Hubbell Chief Executive Gerben Bakker.
The transaction is expected to close in the middle of the year. Hubbell will finance the deal with cash on hand and debt. It has obtained bridge financing from JPMorgan Chase, Bank of America and HSBC Bank USA.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
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- Hubbell strikes $3B deal for NSI Industries to boost electrical portfolio
May 4, 2026
[High voltage power station at sunset. 3D graphic of electricity]
Crovik Media/iStock via Getty Images
Hubbell Incorporated (HUBB [https://seekingalpha.com/symbol/HUBB]) has agreed to acquire NSI Industries from Sentinel Capital Partners in a $3 billion cash deal, expanding its footprint in electrical components and infrastructure products.
The transaction, expected to close in mid-2026 pending regulatory approval, will be financed through a mix of cash and debt. Hubbell (HUBB [https://seekingalpha.com/symbol/HUBB]) said the purchase price equates to roughly 15.5 times NSI’s anticipated 2026 earnings before interest, taxes, depreciation and amortization, and is expected to lift adjusted earnings per share next year.
“As electrification megatrends drive attractive growth across the electrical industry over the next several years, NSI offers highly complementary products and industry-leading brands to our HES portfolio," Gerben Bakker, chairman, president and chief executive, said in the announcement.
ELECTRIFICATION, INFRASTRUCTURE DEMAND DRIVE DEALMAKING
The acquisition reflects a broader push among industrial and electrical equipment companies to scale up in areas tied to electrification, data centers and grid modernization. As demand rises for power distribution, connectivity and energy efficiency solutions, companies like Hubbell (HUBB [https://seekingalpha.com/symbol/HUBB]) are using acquisitions to deepen product portfolios, expand distribution channels and capture higher-margin growth tied to infrastructure upgrades and digitalization.
NSI, which sells more than 15,000 electrical products through a large North American distributor network, is expected to generate about $570 million in revenue by 2026. Hubbell said the business aligns with faster-growing segments of its Electrical Solutions unit and should improve operating margins.
“NSI has demonstrated strong organic growth in line with higher growth areas of our HES portfolio over the last several years, and its operating margins are expected to be accretive to the segment,” said Mark Mikes, president of Hubbell Electrical Solutions, in the announcement.
The deal continues Hubbell’s strategy of expanding its electrical solutions business, which focuses on products used in industrial, commercial and utility applications. NSI’s brands, including Bridgeport, Polaris and Tork, add complementary offerings in connectors, fittings and wire management.
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- Hubbell to Acquire NSI Industries
May 4, 2026
Shelton, CT, May 04, 2026 (GLOBE NEWSWIRE) --
Hubbell to Acquire NSI Industries
A leading manufacturer of electrical fittings, connectors, components and wire management products serving industrial, infrastructure and commercial end markets Complementary product offerings enhance Hubbell’s Electrical Solutions portfolio Attractive financial profile expected to be accretive to Hubbell and HES adjusted operating margins and long-term organic growth $3.0 billion transaction to be financed with cash on hand and debt; purchase price represents ~15.5x anticipated 2026 EBITDA Anticipate adjusted EPS accretion in 2026
Hubbell Incorporated (NYSE: HUBB) today announced it has entered into a definitive agreement to acquire NSI Industries, a portfolio company of Sentinel Capital Partners and a leading provider of electrical fittings, connectors, components and wire management products, for $3.0 billion in cash, subject to customary adjustments.
“We are excited to add a high growth business in NSI to Hubbell’s Electrical Solutions portfolio,” said Gerben Bakker, Chairman, President and CEO. “As electrification megatrends drive attractive growth across the electrical industry over the next several years, NSI offers highly complementary products and industry-leading brands to our HES portfolio across strategic growth verticals including light industrial, datacenter and network infrastructure applications. The acquisition of NSI fits clearly with our long-term strategy to grow our offering of critical infrastructure solutions to our core electrical and utility customers.”
Mark Mikes, President of Hubbell Electrical Solutions, added, “NSI has demonstrated strong organic growth in line with higher growth areas of our HES portfolio over the last several years, and its operating margins are expected to be accretive to the segment. As we continue accelerating our successful segment unification strategy over the next several years, we are confident that the addition of a high growth business in NSI will provide enhanced opportunities for cross-selling, channel conversions, growth across strategic verticals and manufacturing efficiencies.”
NSI anticipates 2026 revenue of approximately $570 million. Hubbell expects the acquisition to be accretive to adjusted EPS in 2026.
The transaction is anticipated to close in mid-2026, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approval. Hubbell plans to finance the transaction with a combination of cash on hand and debt and has obtained fully committed bridge financing from JPMorgan Chase Bank, N.A., Bank of America, N.A., and HSBC Bank USA, N.A. subject to the agreed-upon terms and conditions among the foregoing parties and Hubbell.
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Advisors
Harris Williams is serving as financial advisor to Hubbell, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor. Lincoln International LLC is serving as financial advisor to NSI Industries and Sentinel Capital Partners, and Kirkland & Ellis LLP is serving as legal advisor.
About Hubbell
Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2025 revenues of $5.8 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.
About NSI Industries
NSI Industries is a leading manufacturer and supplier of over 15,000 branded electrical products that are sold to over 2,000 distributors in North America. NSI Industries is made up of a portfolio company of well-respected brands including Bridgeport fittings, Polaris connectors and Tork timers. NSI Industries is headquartered in Huntersville, North Carolina.
About Sentinel Capital Partners
Sentinel is a leading midmarket private equity firm. Working collaboratively with portfolio companies, Sentinel offers operational resources and strategic advice that help its management teams solve challenges, capitalize on opportunities, and build stronger, more valuable businesses. Sentinel also provides junior capital solutions as a minority investor. Sentinel focuses on niche markets across the business services, consumer, healthcare services, and industrial sectors. Since its inception in 1995, Sentinel has raised more than $11.2 billion of capital.
Contacts:
For Hubbell:
Dan Innamorato Hubbell Incorporated 40 Waterview Drive P.O. Box 1000 Shelton, CT 06484 (475) 882-4000
Forward-Looking Statements
Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding anticipated growth, changes in operating results, market conditions and economic conditions, our strategy, and statements regarding the consummation of the proposed transaction and receipt of required regulatory approvals and the anticipated benefits to Hubbell thereof, as well as the timing for the proposed transaction to close and become accretive to Hubbell’s and HES’s adjusted operating margins, accretive to adjusted EPS and long-term organic growth, opportunities for cross-selling and channel conversions, as well as projected NSI 2026 adjusted EBITDA and revenues, are forward-looking statements. These statements may be identified by the use of forward-looking words or phrases such as “believe”, “expect”, “anticipate”, “intend”, “depend”, “plan”, “estimated”, “predict”, “target”, “should”, “could”, “may”, “subject to”, “continues”, “growing”, “prospective”, “forecast”, “projected”, “purport”, “might”, “if”, “contemplate”, “potential”, “pending”, “goals”, “scheduled”, “will”, “will likely be”, and similar words and phrases. Such forward-looking statements are based on our current expectations and involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or the Company’s achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the impact of and substantial uncertainty regarding the duration of existing and newly announced trade tariffs, import quotas or other trade actions, restrictions or measures taken by the United States, China, Mexico, the United Kingdom, member states of the European Union, and other countries, including the recent and ongoing potential changes in U.S. trade policies, that may be made by the current or a future presidential administration and changes in trade policies in other countries made in response to changes in the U.S. trade policies; the general impact of inflation on our business, including the impact on raw materials costs, elevated interest rates and increased energy costs and our ability to implement and maintain pricing actions that we have taken to cover higher costs and protect our margin profile; economic and business conditions in particular industries, markets or geographic regions, as well the potential for macro-economic effects of the U.S. government federal deficit, and continued inflation, a significant economic slowdown, stagflation or recession; effects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to fluctuating rates of foreign currency exchange on inventory purchases; supply chain disruptions and availability, costs and quantity of raw materials, purchased components, energy and freight; changes in demand for our products, market conditions, product quality, or product availability adversely affecting sales levels; ability to effectively develop and introduce new products; changes in markets or competition adversely affecting realization of price increases; continued softness in the grid automation market of Utility Solutions and residential market of Electrical Solutions; failure to achieve projected levels of efficiencies, and maintain cost savings and cost reduction measures, including those expected as a result of our lean initiatives and strategic sourcing plans; failure to comply with import and export laws; changes relating to impairment of our goodwill and other intangible assets; inability to access capital markets or failure to maintain our credit ratings; changes in expected or future levels of operating cash flow, indebtedness and capital spending; regulatory issues, and extensive worldwide changes to the taxation of multinational enterprises, including global minimum tax rules under the Organisation for Economic Co-operation and Development’s Pillar Two initiative and potential modifications to corporate taxation by the U.S. government, including adjustments to tax rates, deduction limitations, cross-border tax provisions, and administrative guidance; a major disruption in one or more of our manufacturing or distribution facilities or headquarters, including the impact of plant consolidations and relocations; changes in our relationships with, or the financial condition or performance of, key distributors and other customers, agents or business partners which could adversely affect our results of operations; the impact of productivity improvements on lead times, quality and delivery of product; anticipated future contributions and assumptions including increases in interest rates and changes in plan assets with respect to pensions and other retirement benefits, as well as pension withdrawal liabilities; adjustments to product warranty accruals in response to claims incurred, historical experiences and known costs; unexpected costs or charges, certain of which might be outside of our control; changes in strategy due to economic conditions or other conditions outside of our control affecting anticipated future global product sourcing levels; ability to carry out future acquisitions and strategic investments in our core businesses as well as the acquisition related costs; the ability of government customers to meet their financial obligations; political unrest and military actions in foreign countries, including the conflicts in Ukraine and the Middle East and trade tensions with China, as well as the impact on world markets and energy supplies and prices resulting therefrom, including the U.S.-Israel-Iran conflict, which has had substantial effects on global trade, the energy markets and the financial markets; the impact of potential natural disasters or additional public health emergencies on our financial condition and results of operations; failure of information technology systems, cybersecurity breaches, cyber threats, malware, phishing attacks, break-ins and similar events resulting in unauthorized disclosure of confidential information or disruptions or damage to information technology systems that could cause interruptions to our operations or adversely affect our internal control over financial reporting; incurring significant and/or unexpected costs to avoid, manage, defend and litigate intellectual property matters; future repurchases of common stock under our common stock repurchase program; changes in accounting principles, interpretations, or estimates; failure to comply with any laws and regulations, including those related to data privacy and information security; the outcome of environmental, legal and tax contingencies or costs compared to amounts provided for such contingencies; improper conduct by any of our employees, agents or business partners that damages our reputation or subjects us to civil or criminal liability; our ability to hire, retain and develop qualified personnel; the ability to successfully manage and integrate acquired businesses, such as the acquisitions of Alliance USAcqCo 2, Inc. (the Ventev business), Nicor, Inc. (the Nicor business), and Power Rose Acquisition, Inc. (the DMC Power business), as well as the failure to realize expected synergies and benefits anticipated when we make an acquisition due to potential adverse reactions or changes to business or employee relationships resulting from completion of the transaction, competitive responses to the transaction, the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of an acquired business, diversion of management’s attention from ongoing business operations and opportunities, and litigation relating to the transaction; the impact of certain divestitures, including the benefits and costs of the sale of the residential lighting business; the ability to effectively implement Enterprise Resource Planning systems without disrupting operational and financial processes; Hubbell and NSI’s ability to complete the proposed transaction on the proposed terms or on the anticipated timeline, or at all; failure to achieve the anticipated benefits from the proposed transaction; other risks related to the completion of the proposed transaction and actions related thereto, including transaction costs and/or unknown or inestimable liabilities; risk factors related to the integration of NSI and the future opportunities and plans for the combined company; and other factors described in our Securities and Exchange Commission filings, including in the “Business”, “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, “Forward-Looking Statements”, and “Quantitative and Qualitative Disclosures about Market Risk” sections in our Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Reports on Form 10-Q. Any such forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements. Hubbell disclaims any duty to update any forward-looking statement, all of which are expressly qualified by the foregoing, other than as required by law.
Non-GAAP Disclosure
We believe non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses non-GAAP measures to compare our performance to that of prior periods for trend analyses and for budgeting, forecasting and planning purposes, among others.
We do not consider non-GAAP measures to be an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures.
Adjusted EBITDA, adjusted operating margin and adjusted EPS are non-GAAP measures. Adjusted EBITDA is a non-GAAP measure that excludes, depreciation and amortization expense, other income (expense), net, interest expense, net, and the provision for income taxes. Adjusted EPS represents GAAP diluted EPS adjusted for the impact of amortization of all intangible assets associated with our business acquisitions, including inventory step-up amortization associated with such acquisitions, transaction, integration and separation costs associated with our business acquisitions and divestitures, and other non-recurring items. Reconciliations of the differences between these non-GAAP measures and the corresponding GAAP measures are not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the applicable GAAP measure in the relevant future period, such as unusual gains and losses, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, certain financing costs, and other structural changes or their probable significance. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of Hubbell.
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- Hubbell to Buy NSI Industries for $3 Billion
May 4, 2026 · wsj.com
Hubbell agreed to acquire NSI Industries for $3 billion, aiming to increase its offerings of critical infrastructure to its electrical and utility customers.
