Hubbell Incorporated Declares New Share Repurchase Program

Rhea-AI Summary

Hubbell (NYSE:HUBB) announced that its Board of Directors has approved a new share repurchase program of up to $500 million, which will be effective until February 2028. This authorization is additional to the company's existing buyback program, which has a remaining capacity of $260 million as of December 31, 2024, and is set to expire in October 2025.

Positive

• New $500 million share repurchase authorization through February 2028
• Existing program still has substantial $260 million remaining capacity
• Multiple active buyback programs demonstrate strong commitment to returning capital to shareholders

Negative

• Large capital allocation to buybacks might limit funds available for other strategic initiatives

Shelton, CT, Feb. 12, 2025 (GLOBE NEWSWIRE) --

The Board of Directors of Hubbell Incorporated (NYSE:HUBB) today approved a new share repurchase authorization of up to $500 million, set to expire in February 2028.

This new program is in addition to the existing share repurchase program set to expire in October 2025, under which the Company’s remaining authorization was $260 million as of December 31, 2024.

About the Company

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2024 revenues of $5.6 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, CT.

Contact:
Dan Innamorato
Hubbell Incorporated
40 Waterview Drive
P.O. Box 1000
Shelton, CT 06484
(475) 882-4000

FAQ

How much is Hubbell's new share repurchase program worth?

Hubbell's new share repurchase program is worth up to $500 million and will expire in February 2028.

When does HUBB's new share buyback program expire?

The new $500 million share buyback program expires in February 2028.

How much remains in Hubbell's existing share repurchase program?

As of December 31, 2024, $260 million remained in Hubbell's existing share repurchase program, which expires in October 2025.

What is the total combined buyback authorization for HUBB?

The combined buyback authorization is $760 million, consisting of the new $500 million program and $260 million remaining from the existing program.

When does Hubbell's existing share repurchase program expire?

Hubbell's existing share repurchase program expires in October 2025.