DUBLIN (AP) — Eaton Corp. PLC (ETN) on Friday reported first-quarter net income of $964 million.
On a per-share basis, the Dublin-based company said it had net income of $2.45, a first-quarter record and up 20% over 2024. Earnings, adjusted for amortization costs and restructuring costs, were $2.72 per share, another first-quarter record and up 13% over 2024.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.
Paulo Ruiz, Eaton president and chief operating officer, said, “We’re pleased with our performance in the quarter, which reflects our team’s high standards and focus on delivering on our commitments. Demand in our end markets continues to drive strong organic growth. As we look ahead, we’re confident, even amid broader macroeconomic volatility, we’re prepared to meet that demand with a proven strategy to invest in our businesses, drive operational excellence and continue our path of growth.”
The power management company posted revenue of $6.38 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $6.27 billion.
For the current quarter ending in June, Eaton expects its per-share earnings to range from $2.85 to $2.95.
The company expects full-year earnings in the range of $11.80 to $12.20 per share.
See the full earnings report here.
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This story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETN at https://www.zacks.com/ap/ETN