Hubbell Incorporated (NYSE:HUBB) Morgan Stanley’s 13th Annual Laguna Conference September 11, 2025 7:05 PM EDT
Company Participants
William Sperry – Executive VP & CFO
Daniel Innamorato – Director of Investor Relations
Joseph Capozzoli
Conference Call Participants
Christopher Snyder – Morgan Stanley, Research Division
Presentation
Christopher Snyder
Equity Analyst
Well, thank you, everybody. Chris Snyder, U.S. multi-industry analyst. Super excited to have Hubbell up here with me. We have current CFO, Bill Sperry. We have future CFO, Joe Capozzoli, and then we have Dan Innamorato from IR. So thank you guys for joining us today.
Question-and-Answer Session
Christopher Snyder
Morgan Stanley, Research Division
I guess maybe starting off high level. The company has gone from a GDP grower to now targeting mid-single-digit through cycle growth. I think a combination of secular trends in electrical and utility that we can all appreciate, but then also portfolio high-grading you guys mixing into better growth verticals in the market. But we’ve seen growth below that mid-single-digit level now for a few quarters. I guess what gives you guys confidence that this is now a mid-single-digit through-cycle growth business?
William Sperry
Executive VP & CFO
Yes, I think that’s a great question to kick off with, and thank you all for joining us. I know the day is getting maybe a little long. And — but I always love your conference because it feels like Labor Day is over, it’s back-to-school. All the summer holidays are over, and we can all get back and grind and finish the year. So it’s always fun to be here.
So I’m going to introduce Joe, but I wanted to start and use your question maybe to frame where we are. So if you look at the last 5 years, we’ve been growing compounded at 10%. We’ve had some impressive margin expansion that time. So
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