Hubbell Incorporated (NYSE:HUBB) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET

Company Participants

Dan Innamorato - Vice President of Investor Relations
Gerben Bakker - President and Chief Executive Officer
Bill Sperry - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jeffrey Sprague - Vertical Research
Stephen Tusa - JPMorgan
Nigel Coe - Wolfe Research
Julian Mitchell - Barclays
Joseph O'Dea - Wells Fargo
Chris Snyder - Morgan Stanley
Christopher Glynn - Oppenheimer
Peter Costa - Mizuho
Nicole DeBlase - Deutsche Bank
Scott Graham - Seaport Research Partners

Operator

Good day, and thank you for standing by. Welcome to the Third Quarter 2024 Hubbell Incorporated Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Dan Innamorato, VP of Investor Relations. Please go ahead.

Dan Innamorato

Thanks, operator. Good morning, everyone, and thank you for joining us. Earlier this morning, we issued a press release announcing our results for the third quarter of 2024. The press release and slides are posted to the Investors section of our website at hubbell.com.

I'm joined today by Chairman, President and CEO, Gerben Bakker; and Executive Vice President and CFO, Bill Sperry.

Please note our comments this morning may include statements related to the expected future results of our company and our forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Please note the discussion of forward-looking statements in our press release and considered incorporated by reference to this call. Additionally, comments may also include non-GAAP financial measures. Those measures are reconciled to the comparable GAAP measures and are included in the press release and slides.

Now let me turn the call over to Gerben.

Gerben Bakker

Great. Good morning, and thank you for joining us to discuss Hubbell's third quarter 2024 results.

Hubbell delivered strong operating performance in the quarter, generating 14% year-over-year adjusted earnings per share and operating profit growth as well as 180 basis points of adjusted operating margin expansion. We are raising our full year outlook this morning, and we remain confident in delivering double-digit adjusted operating profit growth in 2024.

In our Utility Solutions segment, grid modernization and electrification continue to drive strong growth in transmission, substation and grid automation markets as utility customers invest in grid infrastructure upgrades to accommodate electrification-driven load growth and interconnect new sources of renewable generation.