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Eaton (ETN) Q3 Earnings In Line With Estimates, Revenues Top

Zacks Equity Research
Updated

Eaton Corporation plc ETN, a diversified power management firm, is best known for its electrical components, systems and services. This Dublin, Ireland-based company has presence across the globe.

Eaton’s continuous focus on strategic acquisitions and debt reduction initiatives backed by stable cash generating capacity, geographically-diversified operations, and systematic investments in research and development activities to launch new products will likely boost its future performance.

However, owing to the nature of this industry, Eaton’s operation depends on numerous suppliers of raw materials. Any shortage of raw materials, price increase or supplier’s insolvencies can increase the company’s operating costs.

Estimate Trend & Surprise History

Investors should note that the second quarter Zacks Consensus Estimate for earnings of $1.25 per share has dropped by a penny over the last 90 days.

Coming to the earnings surprise, Eaton Corporation has surpassed the Zacks Consensus Estimate in three out of the last four quarters, resulting in a positive average surprise of 3.05%.

Eaton Corporation, PLC Price and EPS Surprise
 

Eaton Corporation, PLC Price and EPS Surprise | Eaton Corporation, PLC Quote

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Zacks Rank: Currently, Eaton has a Zacks Rank#3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.  

We have highlighted some of the key details from the just-released announcement below:

Earnings: Eaton’s earnings were in-line with expectations. Zacks consensus called for third-quarter EPS of $1.25 and the company reported earnings of $1.25.

Revenue: Eaton’s revenues were better than estimates in the third quarter. The company posted revenues of $5,211 million in the third quarter, beating the Zacks consensus estimate of $5,111 million by 1.9%.

Key Stats: Bookings in Electrical Systems and Services was down 1% year over year. Hydraulics segment orders were up 32% year over year. Bookings in Electrical Products and Aerospace segment were up by 5% and 11% year over year respectively.

Stock Price: It would be interesting to see how the market reacts to the in-line earnings during the trading session today.

Check back later for our full write up on this ETN earnings report later!

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