Eaton: 2Q Earnings Snapshot
DUBLIN (AP) _ Eaton Corp. PLC (ETN) on Tuesday reported second-quarter profit of $636 million.
On a per-share basis, the Dublin-based company said it had net income of $1.50. Earnings, adjusted for costs related to mergers and acquisitions, were $1.53 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The power management company posted revenue of $5.53 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $5.65 billion.
For the current quarter ending in October, Eaton expects its per-share earnings to range from $1.50 to $1.60.
The company expects full-year earnings in the range of $5.77 to $5.97 per share.
Eaton shares have climbed 18% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has climbed almost 1% in the last 12 months.