Hubbell Completes Sale of Commercial and Industrial Lighting Business

Rhea-AI Summary

Hubbell Incorporated (NYSE: HUBB) has successfully finalized the sale of its Commercial and Industrial Lighting business to GE Current, a Daintree company. This business specializes in LED lighting and control solutions tailored for commercial and industrial sectors. The sale reflects Hubbell's strategy to streamline operations and focus on core segments. In 2020, Hubbell recorded revenues of $4.2 billion, underscoring its position as a key player in utility and electrical solutions.

Positive

• Successful sale of the Commercial and Industrial Lighting business enhances focus on core operations.
• The LED lighting segment is a growing market, potentially benefiting Hubbell's future strategic direction.

Negative

• None.

News Market Reaction – HUBB

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-0.10% Session move

In the trading session that priced this news, HUBB declined 0.10%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Shelton, CT, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Hubbell Incorporated (NYSE: HUBB) today announced it has completed the sale of its Commercial and Industrial Lighting business to GE Current, a Daintree company. The Commercial and Industrial Lighting business designs, manufactures and sells LED lighting and control solutions for commercial and industrial customers.

About Hubbell

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure reliably and efficiently. With 2020 revenues of $4.2 billion, Hubbell solutions empower and energize communities in front of and behind the meter. The corporate headquarters is located in Shelton, CT.

Contact

Dan Innamorato
Hubbell Incorporated
40 Waterview Drive
PO Box 1000
Shelton, CT 06484
(475) 882-4292

FAQ

What business did Hubbell sell to GE Current?

Hubbell sold its Commercial and Industrial Lighting business to GE Current.

What products were included in the sale of Hubbell's business?

The sale included LED lighting and control solutions for commercial and industrial customers.

What was Hubbell's revenue in 2020?

Hubbell recorded revenues of $4.2 billion in 2020.

When did Hubbell complete the sale of its Commercial and Industrial Lighting business?

The sale was completed on February 1, 2022.

What is the stock symbol for Hubbell Incorporated?

Hubbell's stock symbol is HUBB.