Hubbell Inc (HUBB)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	1,888,100	1,471,600	1,151,500	1,085,800	1,171,600
Revenue	US$ in thousands	5,333,700	4,894,800	4,120,400	4,125,400	4,543,700
Gross profit margin		35.40%	30.06%	27.95%	26.32%	25.79%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,888,100K ÷ $5,333,700K
= 35.40%

Hubbell Inc.'s gross profit margin has shown improvement over the past five years. The company's gross profit margin increased from 29.46% in 2019 to 35.14% in 2023. This upward trend indicates that Hubbell Inc. has been effectively managing its cost of goods sold and increasing its profitability on sales. The steady improvement in gross profit margin suggests that the company has been able to enhance its pricing strategies, control production costs, or optimize its product mix. Overall, Hubbell Inc.'s increasing gross profit margin reflects positively on its operational efficiency and financial performance over the years.