Earnings Per Share

3 Months Ended

Mar. 31, 2024

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Service-based and performance-based restricted stock awards granted by the Company are considered participating securities as these awards contain a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three months ended March 31, 2024 and 2023 (in millions, except per share amounts):


	Three Months Ended March 31,
	2024		2023
Numerator:
Net income attributable to Hubbell Incorporated	$	147.8	$	181.9
Less: Earnings allocated to participating securities	(0.3)		(0.4)
Net income available to common shareholders	$	147.5	$	181.5

Denominator:
Average number of common shares outstanding	53.7		53.6
Potential dilutive common shares	0.3		0.3
Average number of diluted shares outstanding	54.0		53.9

Earnings per share:
Basic earnings per share	$	2.75	$	3.39
Diluted earnings per share	$	2.73	$	3.37

The Company did not have any significant anti-dilutive securities outstanding during the three months ended March 31, 2024 and 2023.