Eaton Guides Q3 Adj EPS $3.46-$3.56, Above Consensus
ETN sits 31% above its 52-week low of $311.915.
Summary
Eaton provided Q3 adjusted EPS guidance of $3.46 to $3.56, above the consensus estimate of $3.38. The company also sees Q3 organic growth of 13.5% to 15.5%. This follows Q1 results where Eaton raised full-year guidance and announced the spin-off of its Mobility Group to combine with Dana. The new quarterly forecast gives traders a concrete near-term earnings target, with the midpoint implying roughly 5% growth over the prior-year quarter. The guidance may reinforce confidence in Eaton's core electrical business as it prepares to separate its vehicle segment.
At the time of this announcement, ETN was trading at $410.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $150.2B. The 52-week trading range was $311.92 to $436.74. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.