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Mar 31, 2023
Eaton Q1 2023 Earnings Report
Eaton reported record earnings and segment margins, driven by strong organic sales growth and backlog.
Key Takeaways
Eaton Corporation reported a strong first quarter in 2023, with record earnings per share of $1.59 and adjusted earnings per share of $1.88, up 16% over the first quarter of 2022. Sales were $5.5 billion, up 13% from the first quarter of 2022, with 15% organic sales growth.
Record first quarter earnings per share of $1.59 and record first quarter adjusted earnings per share of $1.88, up 16% over 2022
Record first quarter segment margins of 19.7%, 90 basis points above the first quarter of 2022
15% organic sales growth, above the high end of guidance, and strong backlog growth of 39% in Electrical and 27% in Aerospace
Raised full year 2023 organic sales and adjusted earnings per share guidance
Revenue by Segment
Forward Guidance
For the full year 2023, the company is increasing its organic growth guidance from 7-9% to 9-11% and raising adjusted earnings per share to between $8.30 and $8.50, up $0.16 at the midpoint. For the second quarter of 2023, the company anticipates organic growth of 10-12% and adjusted earnings per share of between $2.04 and $2.14.
Positive Outlook
- Increasing full year 2023 organic growth guidance from 7-9% to 9-11%
- Raising adjusted earnings per share to between $8.30 and $8.50 for full year 2023
- Anticipating organic growth of 10-12% for the second quarter of 2023
- Expecting adjusted earnings per share of between $2.04 and $2.14 for the second quarter of 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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