July 28 - Electrical equipment manufacturer Hubbell

topped second-quarter earnings estimates and lifted its 2026

profit forecast on Tuesday, driven by robust demand from data

centers and energy projects.

Rising demand for AI technologies is driving a global

expansion of data center construction, benefiting firms such as

Hubbell, a supplier of wiring, lighting, and other electrical

equipment.

"Megatrends in grid modernization, load growth and

datacenter investment drove 10% organic growth in the second

quarter," CEO Gerben Bakker said.

Industrial equipment manufacturers have also benefited from

higher utility spending on grid upgrades and aging

infrastructure replacement amid growing power demand.

Sales in Hubbell's electrical segment were up 25% to $686

million in the second quarter, while those from its utility

solutions business rose 10% to $1.03 billion.

The company now expects a 2026 adjusted profit between

$20.25 and $20.55 per share, the midpoint of which is higher

than that of its previous forecast range of $19.30 to $19.85.

Excluding items, the company reported a second-quarter

profit of $5.52 per share, compared with analysts' estimates of

$5.38 per share, according to data compiled by LSEG.

Quarterly net sales came in at $1.71 billion, compared with

analysts' average expectation of $1.65 billion.

The company's shares were up more than 1% in premarket

trading.