Eaton Q1 2020 Earnings Report
Key Takeaways
Eaton Corporation reported earnings per share of $1.07 for the first quarter of 2020, with adjusted earnings per share at $1.09, which included a $0.14 reduction due to the impact of COVID-19. Sales were $4.8 billion, a 10% decrease from the previous year, with organic sales down 7%. The company completed the sale of its Lighting business for $1.4 billion and expects to finalize the Hydraulics business sale for $3.3 billion by the end of 2020. Full-year free cash flow is projected to be between $2.3 billion and $2.7 billion.
Earnings per share were $1.07, and adjusted earnings per share were $1.09, which was reduced by $0.14 due to COVID-19 impact.
Sales reached $4.8 billion, a 10% decrease year-over-year, with organic sales down 7% due to COVID-19.
The Lighting business was sold for $1.4 billion, and the Hydraulics business sale is expected to close by the end of 2020 for $3.3 billion.
Full-year free cash flow is expected to range between $2.3 billion and $2.7 billion.
Eaton
Eaton
Eaton Revenue by Segment
Forward Guidance
Eaton withdrew its full year 2020 adjusted earnings per share guidance due to the reduction in global growth and economic uncertainty. They expect full year free cash flow for 2020 to be between $2.3 billion and $2.7 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income