Eaton Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Eaton Corp. (ETN) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $821 million, or $2.05 per share. This compares with $638 million, or $1.60 per share, in last year's first quarter.

Excluding items, Eaton Corp. reported adjusted earnings of $966 million or $2.40 per share for the period.

Analysts on average had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.4% to $5.94 billion from $5.48 billion last year.

Eaton Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $821 Mln. vs. $638 Mln. last year. -EPS (Q1): $2.05 vs. $1.60 last year. -Revenue (Q1): $5.94 Bln vs. $5.48 Bln last year.

-Guidance: Next quarter EPS guidance: $2.52 - $2.62. Full year EPS guidance: $10.20 - $10.60