Hubbell makes electrical and utility components used to build and modernize the power grid and industrial electrical infrastructure. The company operates two businesses: Utility Solutions (~63% of revenue) and Electrical Solutions (~37%). Utility Solutions makes the physical hardware and smart technology utilities need to transmit and distribute electricity — arresters, insulators, connectors, switches, enclosures, and substation components — as well as smart meters and AMI systems. Electrical Solutions makes wiring devices, connectors, grounding products, and industrial controls used in commercial buildings, factories, and data centers, with key brands including Burndy and Killark. Hubbell sells primarily through distributors and wholesalers, with some direct sales to large utilities and industrial customers. The business is largely book-and-ship, meaning revenue closely tracks near-term orders, though Grid Automation and substation automation involve longer-cycle project backlog. Profitability is driven by volume, price/cost management on key raw materials (copper, steel, aluminum, and brass), and product mix — with T&D hardware and specialty electrical products like Burndy connectors carrying the highest margins. Hubbell generates incremental margins of roughly 25-30% on organic volume growth. M&A is a core part of Hubbell's strategy; the company has acquired roughly 50 businesses over the past 18 years, targeting high-growth businesses in utility T&D, data centers, and adjacent markets. Recent deals include Systems Control (substation automation) and DMC Power (specialized substation connectors).