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Eaton Corporation plc - $ETN STOCK NEWS

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Eaton Corporation plc is a leading American-Irish multinational power management company, recognized globally for its innovative solutions in managing electrical, hydraulic, and mechanical power. Founded in 1911, and with its global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio, Eaton has consistently positioned itself at the forefront of the power management industry.

With 2022 sales amounting to $20.75 billion, Eaton operates through several primary segments: Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility. This diversified portfolio enables Eaton to cater to a wide range of end markets, including commercial vehicles, general aviation, trucks, data centers, utilities, and residential applications.

Eaton's recent achievements highlight its commitment to growth and innovation. The company has expanded its manufacturing capacity with a new state-of-the-art assembly plant in Santiago de los Caballeros, Chile, and a modern campus in Helsinki, Finland, to meet the rising demand for its products. These facilities focus on producing critical components like UPS systems and Bussmann series fuses, which are essential in data centers, renewable energy projects, industrial buildings, and electric vehicles.

In addition to facility expansions, Eaton is actively participating in the BIG LEAP project, an EU research initiative aimed at enhancing energy storage efficiency using second-life batteries from electric vehicles. This project underlines Eaton's dedication to sustainability and innovation in energy management.

Eaton also places a strong emphasis on sustainability and environmental stewardship. The company is dedicated to protecting the environment and improving the quality of life for people everywhere through its products and solutions. By capitalizing on global trends like electrification and digitalization, Eaton is accelerating the planet's transition to renewable energy sources and helping solve some of the most urgent power management challenges.

With over a century of experience, Eaton remains a trusted name, serving customers in more than 160 countries. The company reported revenues of $23.2 billion in 2023, showcasing its robust financial condition and commitment to innovation.

For more information, visit Eaton.com. Follow Eaton on LinkedIn.

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Eaton has joined the BIG LEAP project, a Horizon Europe initiative involving 16 partners, to enhance energy storage systems using second-life batteries from electric vehicles.

The project will last three and a half years and aims to develop an open-source Battery Management System (BMS) that improves interoperability between various battery chemistries and architectures.

Eaton's team, based in Prague, will create a modular 500 kWh energy storage system at the Eaton European Innovation Center (EEIC) to demonstrate cost and energy savings in commercial buildings.

The project also aims to standardize a quicker and more cost-effective battery refurbishment process, strengthening the value chain for second-life batteries.

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Eaton has made a strategic investment in NordicEPOD, a former subsidiary of CTS Nordics, which specializes in standardized power modules for data centers in the Nordic region. The investment aims to broaden Eaton's reach in the European data center market, which is expanding rapidly due to increased demand for cloud, edge computing, and AI. This relationship is expected to reduce complexity, costs, and lead times for large modular data centers. Eaton reported revenues of $23.2 billion in 2023 and serves customers in over 160 countries.

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Eaton has expanded its education and testing centers in Pittsburgh, Houston, and Marshall, Michigan, offering hands-on programs to accelerate fleet electrification. With over half of fleets planning to decarbonize by 2027, Eaton's initiatives aim to educate fleet owners and OEMs on scalable, affordable, and reliable solutions.

Eaton's Experience Centers in Pittsburgh and Houston allow visitors to engage with real-world fleet charging applications and infrastructure, including safety switches, transformers, and panelboards. The Marshall, Michigan campus features extensive vehicle electrification facilities for testing and training.

Key innovations include the industry-first EV Charging Busway, integrated panelboards, and switchboards, and the Eaton Green Motion Fleet chargers. Additionally, Eaton's Charging Network Manager software facilitates installation, remote management, and energy consumption control.

These efforts support the transition to zero-emission vehicle fleets, aligning with Eaton's commitment to sustainability and renewable energy solutions.

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Eaton has inaugurated a new manufacturing campus in Helsinki to meet the rising demand for its EnergyAware Uninterruptible Power Supply (UPS) systems, including the new Eaton 9395X. This facility will bolster Eaton's capacity in producing three-phase UPS systems, essential for data centers, healthcare, and other sectors requiring reliable power supply. The 9395X model is compact, energy-efficient, and integrates Eaton's proprietary technology for grid flexibility. The expansion will create over 100 new jobs, enhancing the existing workforce and supporting the company's rapid growth in the region.

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Eaton (NYSE: ETN) has acquired Exertherm, a UK-based provider of thermal monitoring solutions for electrical equipment. This acquisition aims to enhance Eaton's Brightlayer software suite, delivering better data insights for operations optimization. Exertherm, known for its innovative technology, integrates its solutions into low- and medium-voltage switchgear, busway, and motor control centers, enhancing global protection of critical electrical infrastructure. Eaton, with $23.2 billion revenue in 2023, focuses on sustainable power management solutions across various industries, supporting the global shift towards electrification and digitalization.

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Eaton has inaugurated a new 65,000 square-foot manufacturing facility in Santiago de los Caballeros, Dominican Republic. This $10 million project is part of Eaton's $750 million investment in North American manufacturing, aimed at increasing the supply of Bussmann series fuses used in EVs, renewable energy systems, data centers, and industrial applications. The new site will create 300 skilled jobs and is Eaton's fifth facility in the Dominican Republic. Eaton aims to meet the growing demand for intelligent power management solutions, contributing to the global shift towards renewable energy. In 2023, the company reported revenues of $23.2 billion and serves customers in over 160 countries.

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Eaton is supporting Endurant Energy in deploying 10 battery storage projects in New York City, with a total capacity exceeding 150MWh. These clean energy projects aim to enhance power reliability and grid strength, providing load relief during peak demand. Eaton's assistance includes system design, power studies, and equipment provision for safe grid interconnection, promoting a more sustainable and resilient electric future in NYC.

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Eaton highlighted its commitment to cybersecurity training at the White House Cyber Workforce event, showcasing efforts to strengthen the talent pipeline with education programs and investments in manufacturing. The company collaborates with universities, contributes to cybersecurity research, and ensures product safety standards. The press release emphasizes the growing need for skilled cybersecurity professionals and Eaton's proactive approach to addressing this demand.

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Eaton plc (NYSE:ETN) reported record first quarter results in 2024. Earnings per share were $2.04, with a 28% increase over 2023. Sales reached $5.9 billion, up 8% organically. Segment margins were 23.1%, a first quarter record. Full year guidance was raised for organic growth, segment margins, and earnings per share. The company anticipates strong growth in Electrical and Aerospace segments.

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Eaton, an intelligent power management company, has been awarded $26.6 million in federal tax credits to support U.S. manufacturing and workforce training programs, accelerating the energy transition. The investment tax credits were granted for manufacturing investments exceeding $200 million in Texas and Wisconsin, creating over 800 new jobs. Eaton's focus on clean energy projects and workforce education aims to strengthen the U.S. clean energy economy and build a sustainable future.
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FAQ

What does Eaton Corporation plc specialize in?

Eaton specializes in power management solutions, offering products and services across electrical, aerospace, vehicle, and eMobility segments.

Where is Eaton Corporation plc headquartered?

Eaton Corporation plc has its global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio, USA.

What were Eaton's sales figures for 2022?

Eaton reported sales of $20.75 billion in 2022.

How long has Eaton Corporation plc been in business?

Eaton was founded in 1911, making it a century-old company with a long history in power management.

What are some recent developments at Eaton Corporation plc?

Recent developments include the opening of new manufacturing facilities in Santiago de los Caballeros, Chile, and Helsinki, Finland, and participation in the BIG LEAP project for energy storage innovation.

What is the BIG LEAP project?

The BIG LEAP project is an EU research initiative aimed at enhancing energy storage efficiency using second-life batteries from electric vehicles, with Eaton playing a key role in its development.

How does Eaton contribute to sustainability?

Eaton focuses on protecting the environment and improving quality of life through sustainable power management solutions, supporting the transition to renewable energy sources.

What are Eaton's main business segments?

Eaton operates through segments including Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility.

How can I learn more about Eaton's products and services?

For more information on Eaton's products and services, visit their official website at www.eaton.com.

Where can I follow Eaton Corporation plc on social media?

You can follow Eaton Corporation plc on LinkedIn and other major social media platforms.

Eaton Corporation plc

NYSE:ETN

ETN Rankings

ETN Stock Data

130.83B
397.60M
0.2%
85.99%
0.91%
Other Commercial and Service Industry Machinery Manufacturing
Manufacturing
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United States of America
DUBLIN

About ETN

Eaton Corporation plc is an American-Irish multinational power management company with 2022 sales of $20.75 billion, founded in the United States with global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio.