Hubbell Inc. Overview

Hubbell Inc.

Introduction

Hubbell Inc., was founded in the year 1888, over a century ago, and marks approximately 134 years in existence. The company is an American-based corporation that manufactures, designs, and sells electronic and electrical products for industrial, and utility applications, as well as residential, and non-residential constructions. Hubbell, Inc., was initially founded as a sole proprietorship business by Harvey Hubbell in 1888 and was later incorporated in the year 1905 in Connecticut. Hubbell, Inc., is proud to be ranked in the 602nd position on the Fortune list, indicating the company’s efficiency and astounding status in the area of revenue generation and overall operations. It is also listed on the S&P 400 List of Companies and its Stock Market Index. In its entirety, Hubbell, Inc.,  operates in three business segments which are the power segment, the electrical segment,  as well as the lighting products segment. The company has its manufacturing facilities scattered across all major countries of the world such as the U.S., Canada, Puerto Rico, Switzerland, Mexico, Italy, the People’s Republic of China, the United Kingdom, Australia, as well as Brazil. Additionally, the company has its sales offices located in countries like Chaina, Mexico, South Korea, and Singapore, as well as several countries in the middle east. The company’s headquarters was formerly located in Orange town, Connecticut, but is now currently located in Shelton, Connecticut. Hubbell, Inc., played a significant role during World War II by manufacturing military tools and devices like military vehicles electrical circuits, power jacks for test meters, battery-charging systems for M4 Sherman tanks, a line of electrical and electronic connectors, as well as vacuum tube sockets for radio communications. In this article, however, you will be shown a more detailed, comprehensive, and extensive review of Hubbell, Inc. The kickoff will begin with the company’s key facts, which  will thereafter flows through all aspect of its operations, and dealings. As such, all relevant information detailing its key facts, its historical background, its business segments, its financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the fastening-oriented company as quickly as possible.    

Key Facts

Founding Year: Hubbell, Inc., was founded in the year 1888, over a century ago, marks approximately 134 years in existence.

Industrial Ranking:  Hubbell, Inc., is proud to be ranked in the 602nd position on the Fortune list, indicating the company’s efficiency and astounding status in the area of revenue generation and overall operations. It is also listed on the S&P 400 List of Companies and its stock market index.

Company Type: A Public Corporation (PLC)   

Market Reach & Diversification: Hubbell, Inc., has more than 98 office locations and manufacturing facilities scattered in different major countries of the world. Additionally, the company operates in three segments which are the power segment, the electrical segment,  as well as the lighting products segment

Industry Type: Electronic and Electrical products/ Lighting Power System

Trading type:  Hubbell, Inc., trades publicly on the New York Stock Exchange (NYSE) market, under the ticker name, HUBB. Additionally, the company’s stock is traded as S&P 400 component.

Workforce Strength: Hubbell, Inc., has a total number of 19, 700 employees in its workforce globally.   

Historical Facts

Prior to the company’s incorporation in 1905, Harvey Hubbell II, the founder of the Hubbell, Inc. published a 12-page catalog in 1901, consisting of 63 electrical products of the company, and four years later, the company was officially incorporated as Harvey Hubbell, Incorporation. However, in the same year, the firm registered its trademark, and in the year 1909, the company started its four-floor office and factory building that marked the first building in New England which was made of reinforced concrete.

Between the years 1896 and 1909, the company was granted  45 patents on a broad range of electrical products, and as such the company’s product catalog was extensively expanded. In the year 1917, March, the company published its Catalogue #17 which enlisted more than a thousand products.

Hubbell, Inc.’s first era ended when its founder, Harvey Hubbell II dies on December 19, 1927. He was however succeeded by his son, Harvey Hubbell III who took over as the company’s president. The twenty-six-year-old Harvey Hubbell III proves his inherited entrepreneurial acumen by devising the firm’s lines of Twist-lock industrial connectors, hence, awakening the company’s innovative dexterity.

The company also emerges as one of the first manufacturing companies to produce flush toggle switches for current alternation only. This innovative feat, led to the company’s expansions and from 1960 up to now, the company has evolved rapidly by acquiring several companies and brands to itself. The succeeding lines,, however, give details an overview of these major acquisitions.

Major Acquisitions & Dates

1960s – 1990s

In the year 1962, Hubbell, Inc., bought Kellems Co. Inc., a company whose operation centers on mesh grips, wire management, as well as cord connectors. The company is located in Shelton Connecticut. In the year 1978, Hubbell, Inc., purchased Ohio Brass in Wadsworth, a company manufacturing porcelain and polymer insulators as well as arresters which are used in the transmission, distribution, and substation markets. In the year 1993, the company bought E. M. Wiegmann Inc., in St. Louis, a company dealing with the fabrication of panels, cabinets, and other enclosures. In the year 1996, Hubbell, Inc. Also bought Anderson Electrical Products in St. Leeds, a company whose major operations deal with the manufacturing of clamps, electrical connectors, and fittings as well as accessories for transmission, crimping tools, and distribution lines. In the year 199, Hubbell, Inc. Also bought Haefely Test AG in Basel, Switzerland, a manufacturer of instrumentation equipment, high voltage test systems, as well as electromagnetic systems that are used in compliance testing of Local Area Network Systems (LANs) and telecommunications.        

2000s -2010s

In the year 2000, Hubbell, Inc. Acquired GAI-Tronics Corporation in Mohnton, Pennsylvania, a company dealing with supplying services of communication systems tailored for the outdoor, indoor, and hazardous environments, and this acquisition was integrated into the company’s overall electrical operation segment. In the year 2005, Hubbell, Inc., bought Atlas, a civil helical anchor venture, and in the same year, the company also bought Victor Lightning a company that manufactures above-ground cable and lighting products for industrial, harsh, as well as hazardous areas. In the year 2009, Hubbell, Inc. Purchased Burndy LLC located in Manchester, New Hampshire, a manufacturer of mechanical and compression connectors. And in the year 2011, Hubbell, Inc., bought Metron Inc., a company dealing with fire pump control products. In the year 2015, the company bought several manufacturing companies of mill duty crane control products,  disconnect switches, as well as dry-type toroids and transformers. These companies include Electric Controller & Manufactring LLC, and Turner Electric Corp. As well as Acme Electric Corp. Lastly, in the year 2018, on February 5, Hubbell, Inc. Bought Aclara Technologies in St, Louis Missouri, a company dealing with the production of smart meters, electricity meters, smart grid monitoring sensors, as well a advanced metering infrastructure. The company was added to Hubbell, Inc.’s power segment.

Business Segment

As mentioned in the introductory portion of this piece, Hubbell, Inc., majors in three business segments which are the power segment, the electrical segment,  as well as the lighting products segment

The Electrical Business Segment

The segment manufactures wiring devices and accessories, cable reels, plugs and receptacles, switches and dimmers, cable glands and fittings, connectors and tooling, datacom connectivity and enclosures, floor boxes, pin and sleeve devices, specialty communications equipment, high voltage test systems, steel and plastic enclosures, mining communications, and controls, as well as electrical motor controls.

The Lightning Product Business Segment

This segment manufactures products such as parking garage/parking lot fixtures, canopy lights, bollards, fluorescent fixtures, decorative landscape fixtures, floodlights, and poles, LED components, site and area lighting, Recessed, athletic and recreational field fixtures, occupancy dimming and daylight harvesting sensors, et cetera.

The Power Business Segment

The power business segment however includes the production of arresters, grounding equipment, high-voltage bushings, insulators, programmable reclosers, cable terminations and accessories, sectionalizers, formed wired products, lineman tools, hoses and gloves, splices, polymer concrete and fiberglass, equipment pads, overhead pad mounted and capacitor, cutouts and fuse links, amongst others.

Financials

Revenue: 4.9 Billion USD

Operating Income: 890 Million USD

Total Assets: 50. 7 Billion USD

Total Equity: 7 Billion USD

Net Income: 364 Million USD

Pros and Cons

According to reviews on Indeed.com, below are the outlined pros and cons of Warner Music Group as reviewed by employees.

Pros

Work/Life Balance

Job Security and Advancement

Efficient and Effective Management

Amazing Organizational Culture

Compensation and Perks

Cons

Low Support from Managers

Workplace Politics

Relatively Low Salary

Conclusion

It is quite amusing that despite the long-shot of years since the inception of Hubbell, Inc., the corporation has continued to increase its growth exponentially hitherto this day, although the secret to this is not quite far fetched, it is, however, the company’s ability and acumen to deceiver on time its core business niches and focus on them. Finally, with all being said in the foregoing sections of this piece, I hope your expectation, as promised in the introductory part of this piece has been met, and that you have adequately absorbed all there is to know about the company, Hubbell, Inc..