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Sep 30, 2023
Eaton Q3 2023 Earnings Report
Eaton reported record quarterly results with backlog growth and raised guidance.
Key Takeaways
Eaton Corporation reported record quarterly sales of $5.9 billion, up 11% from the third quarter of 2022, with 9% organic sales growth. The company's adjusted earnings per share were $2.47, a 22% increase over the prior year. Operating cash flow was a third quarter record at $1.1 billion, and free cash flow was $913 million, up 18% and 10%, respectively, over the same period in 2022.
Earnings per share of $2.22 and record adjusted earnings per share of $2.47, up 22% over 2022.
Record quarterly sales with 9% organic sales growth.
Record quarterly segment margins of 23.6%, 240 basis points above the third quarter of 2022.
Third quarter record operating cash flow of $1.1 billion, up 18%.
Eaton
Eaton
Eaton Revenue by Segment
Revenue by Segment
Electrical Americas Revenue
CapyFin.comElectrical Global Revenue
CapyFin.comAerospace Revenue
CapyFin.comVehicle Revenue
CapyFin.comeMobility Revenue
CapyFin.com Forward Guidance
For the fourth quarter of 2023, the company anticipates organic growth of 8-10% and adjusted earnings per share of between $2.39 and $2.49.
Positive Outlook
- Company anticipates organic growth of 8-10% for Q4 2023.
- Adjusted earnings per share are expected to be between $2.39 and $2.49 for Q4 2023.
- Full year organic growth guidance narrowed to a range of 11% to 12%.
- Adjusted earnings per share guidance raised to between $8.95 and $9.05.
- Full year operating cash flow guidance raised to $3.3-$3.7 billion.
Challenges Ahead
- Forward-looking statements are subject to various risks and uncertainties.
- Unanticipated changes in the markets for the company’s business segments could affect results.
- Competitive pressures on sales and pricing may impact performance.
- Supply chain disruptions could lead to material and labor cost increases.
- Changes in tax laws or regulations may affect financial condition.
Revenue & Expenses
Visualization of income flow from segment revenue to net income