Eaton Corporation Plc Raises 2024 Guidance - Update

(RTTNews) - (Adds Outlook)

Eaton Corporation plc (ETN) announced, for the full year 2024, the company is raising its guidance: earnings per share to between $9.47 and $9.53, up 18% at the midpoint over the prior year; adjusted earnings per share to between $10.75 and $10.81, up 18% at the midpoint over the prior year.

For the fourth quarter of 2024, the company anticipates: organic growth of 6-7%; earnings per share between $2.42 and $2.48; and adjusted earnings per share between $2.78 and $2.84.

Q3 Results:

The company's earnings came in at $1.01 billion, or $2.54 per share. This compares with $891 million, or $2.23 per share, in last year's third quarter. Excluding items, Eaton Corp. reported adjusted earnings of $1.13 billion or $2.84 per share for the period. Analysts on average had expected the company to earn $2.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 7.9% to $6.345 billion from $5.880 billion last year.

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