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EX - 99.1 2 exhibit991_04272021.htm EX - 99.1 HUBBELL Date : April 27 , 2021 NEWS RELEASE Hubbell Incorporated 40 Waterview Drive Shelton , CT 06484 475-882-4000 HUBBELL REPORTS FIRST QUARTER 2021 EARNINGS PER DILUTED SHARE OF $ 1.42 AND ADJUSTED EARNINGS PER DILUTED SHARE OF $ 1.72 • Q1 net sales -1 % ( organic -4 % ) • Q1 diluted EPS of $ 1.42 ; adjusted diluted EPS of $ 1.72 • Raise FY21 adjusted diluted EPS to $ 8.20- $ 8.60 ; reported diluted EPS of $ 6.80- $ 7.20 Exhibit 99.1 SHELTON , CT . ( April 27 , 2021 ) - Hubbell Incorporated ( NYSE : HUBB ) today reported operating results for the first quarter ended March 31 , 2021 . " Hubbell achieved year - over - year earnings growth and adjusted operating margin expansion in the first quarter , " said Gerben Bakker , President and Chief Executive Officer . " We continue to see improvement in demand across each of our end markets , reflected in sequential sales growth in the quarter , as well as strengthening orders across both segments . In Utility Solutions , renewables projects and grid modernization initiatives in electrical transmission and distribution markets continue to drive strong demand for T & D Components . While Communications & Controls deployments remained affected by project delays as a result of the COVID - 19 pandemic , we saw significant order growth in AMI and meters during the first quarter , supporting our expectations for a return to growth over the balance of the full year . In Electrical Solutions , markets continue to steadily improve . Non - residential markets remained stable in the quarter , while light industrial verticals strengthened , driving increased demand for our Connectors & Grounding and Wiring Systems products . " 1