Loading...
•
Sep 30, 2024
Eaton Q3 2024 Earnings Report
Eaton reports record third quarter results driven by organic sales growth and strong segment performance.
Key Takeaways
Eaton reported a record third quarter with earnings per share of $2.53, up 14% over 2023, and adjusted earnings per share of $2.84, up 15% over 2023. Sales reached $6.3 billion, an 8% increase driven by organic sales growth. The company raised its full-year 2024 segment margin, earnings per share, and adjusted earnings per share guidance.
Third quarter earnings per share of $2.53, up 14% over 2023, and record quarterly adjusted earnings per share of $2.84, up 15% over 2023.
Record segment margins of 24.3%, 70 basis points above the third quarter of 2023.
8% organic sales growth, including approximately 50 basis points of headwinds from Hurricane Helene and labor strikes in the aerospace industry.
Strong backlog growth of 25% in Electrical and 14% in Aerospace.
Revenue by Segment
Forward Guidance
For the full year 2024, the company is raising the following guidance:
Positive Outlook
- Segment margins from 23.3-23.7% to 23.5-23.9%
- Earnings per share to between $9.47 and $9.53, up 18% at the midpoint over the prior year
- Adjusted earnings per share to between $10.75 and $10.81, up 18% at the midpoint over the prior year
Challenges Ahead
- Organic growth of 6-7%
- Segment margins of 23.6-24.0%
- Earnings per share between $2.42 and $2.48
- Adjusted earnings per share between $2.78 and $2.84
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...