Eaton Corp. Earnings Retreat 26% In Q3

(RTTNews) - Eaton Corp. (ETN) announced a profit for third quarter that retreated compared to the same period last year.

The company said its bottom line dropped to $453 million, or $0.97 per share. This was down from $616 million, or $1.29 per share, in last year's third quarter.

Analysts had expected the company to earn $1.00 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.2% to $5.20 billion. This was down from $5.73 billion last year.

Eaton Corp. earnings at a glance:

-Earnings (Q3): $453 Mln. vs. $616 Mln. last year. -Earnings Decline (Y-o-Y): -26.5% -EPS (Q3): $0.97 vs. $1.29 last year. -EPS Decline (Y-o-Y): -24.8% -Analysts Estimate: $1.00 -Revenue (Q3): $5.20 Bln vs. $5.73 Bln last year. -Revenue Change (Y-o-Y): -9.2%

-Guidance: Next quarter EPS guidance: $1.05 - $1.15 Full year EPS guidance: $4.20 - $4.30