Eaton Raises Full Year Guidance

(RTTNews) - Eaton Corporation plc (ETN) said, for the full year 2024, the company is raising its guidance: organic growth from 7-9% to 8-9%; earnings per share to between $9.38 and $9.48, up 18% at the midpoint over the prior year; and adjusted earnings per share to between $10.65 and $10.75, up 17% at the midpoint over the prior year.

For the third quarter of 2024, the company expects: organic growth of 8-9%; earnings per share between $2.42 and $2.52; and adjusted earnings per share between $2.73 and $2.83.

Second quarter earnings came in at $993 million, or $2.48 per share compared with $744 million, or $1.86 per share, in last year's second quarter. Adjusted earnings per share was $2.73, up 24% over the second quarter of 2023. Analysts on average had expected the company to earn $2.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Revenue for the quarter rose 8.3% to $6.35 billion from $5.87 billion last year.

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