Eaton Corporation plc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
October 31, 2024 at 06:30 am EDT
Share
Eaton Corporation plc reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 6,345 million compared to USD 5,880 million a year ago. Sales was USD 6,345 million compared to USD 5,880 million a year ago. Net income was USD 1,009 million compared to USD 891 million a year ago. Net income was USD 1,009 million compared to USD 891 million a year ago. Basic earnings per share from continuing operations was USD 2.54 compared to USD 2.23 a year ago. Basic earnings per share from continuing operations was USD 2.54 compared to USD 2.23 a year ago. Diluted earnings per share from continuing operations was USD 2.53 compared to USD 2.22 a year ago. Diluted earnings per share from continuing operations was USD 2.53 compared to USD 2.22 a year ago.
For the nine months, sales was USD 18,638 million compared to USD 17,229 million a year ago. Sales was USD 18,638 million compared to USD 17,229 million a year ago. Net income was USD 2,823 million compared to USD 2,273 million a year ago. Net income was USD 2,823 million compared to USD 2,273 million a year ago. Basic earnings per share from continuing operations was USD 7.08 compared to USD 5.7 a year ago. Basic earnings per share from continuing operations was USD 7.08 compared to USD 5.7 a year ago. Diluted earnings per share from continuing operations was USD 7.05 compared to USD 5.67 a year ago. Diluted earnings per share from continuing operations was USD 7.05 compared to USD 5.67 a year ago.
Eaton Corporation plc is a diversified industrial group organized around 4 families of products:
- distribution, control and electric protection systems and component (69.8% of net sales): low tension electric appliances, breakers, UPS, modulators, industrial automatisms, etc.;
- aerospace systems (14.7%): fuel power systems, hydraulics and pneumatic systems for commercial and military aircrafts, men/machine interfaces, propellant systems, switching and electrical protection equipment, etc.;
- air managing systems for automotive engines (12.8%). The group also offers transmission systems for trucks;
- other (2.7%).
Net sales are distributed geographically as follows: the United States (60.6%), Europe (18.7%), Asia/Pacific (9.9%), Latin America (6.7%), and Canada (4.1%).