• Hubbell Inc average gross margin for 2023 was 33.45%, a 16.92% increase from 2022.
• Hubbell Inc average gross margin for 2022 was 28.61%, a 0.7% increase from 2021.
• Hubbell Inc average gross margin for 2021 was 28.41%, a 4.34% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.