Hubbell Posts 25% Revenue Growth on Data Center Demand but Cuts Organic Outlook on Supply Bottlenecks

Hubbell Inc. (HUBB) reported third-quarter revenue of $1.873 billion, up 25% year over year, with an adjusted operating margin of 25.5%, and raised its full-year guidance, though it cut its organic growth forecast to 6%-7% as capacity constraints limit output. The electrical segment posted 22% organic growth, with data center revenue up more than 80% organically, lifting segment margin by 4 percentage points to 24.8%. CEO Gerben Bakker said new capacity adds about $25 million in quarterly revenue this year, doubling to roughly $50 million in 2027, but warned each year requires further expansion for the following year. Utility orders are up more than $500 million year to date, about 30% above the start of the year, yet substation control room expansion has lagged and meter shipments were delayed by supplier parts shortages. Hubbell has moved next year's electrical segment price increases to November, with third-quarter pricing, cost and productivity effects roughly flat.