HUBBELL INC
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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FY2023 · Filed Feb 8, 2024
HUBB$441.57+2.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Income
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions, except per share amounts) | 2023 | 2022 | 2021 |
| Net sales | $5,372.9 | $4,947.9 | $4,194.1 |
| Cost of goods sold | 3,484.8 | 3,476.3 | 3,042.6 |
| Gross profit | 1,888.1 | 1,471.6 | 1,151.5 |
| Selling & administrative expenses | 849.6 | 762.5 | 619.2 |
| Operating income | 1,038.5 | 709.1 | 532.3 |
| Loss on disposition of business (Note 4) | — | — | (6.9) |
| Loss on extinguishment of debt (Note 13) | — | — | (16.8) |
| Pension charge (Note 12) | — | (7.0) | — |
| Interest expense, net | (36.7) | (49.6) | (54.7) |
| Other (expense) income, net | (18.5) | 4.5 | 5.4 |
| Total other expense | (55.2) | (52.1) | (73.0) |
| Income from continuing operations before income taxes | 983.3 | 657.0 | 459.3 |
| Provision for income taxes | 217.3 | 140.2 | 88.2 |
| Net income from continuing operations | 766.0 | 516.8 | 371.1 |
| Less: Net income from continuing operations attributable to noncontrolling interest | (6.2) | (5.5) | (6.1) |
| Net income from continuing operations attributable to Hubbell Incorporated | 759.8 | 511.3 | 365.0 |
| Income from discontinued operations, net of tax (Note 2) | — | 34.6 | 34.5 |
| Net income attributable to Hubbell Incorporated | $759.8 | $545.9 | $399.5 |
| Earnings per share | |||
| Basic earnings per share from continuing operations | $14.14 | $9.49 | $6.70 |
| Basic earnings per share from discontinued operations | — | 0.64 | 0.63 |
| Basic earnings per share | $14.14 | $10.13 | $7.33 |
| Diluted earnings per share from continuing operations | $14.05 | $9.43 | $6.66 |
| Diluted earnings per share from discontinued operations | — | 0.64 | 0.62 |
| Diluted earnings per share | $14.05 | $10.07 | $7.28 |
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