Eaton Stock Price, News & Analysis

Eaton announces leadership changes with the retirement of Brian Brickhouse and Joao Faria. Mike Yelton will succeed Brickhouse as president of the Americas Region, Electrical Sector, and Pete Denk will take over from Faria as president of the Vehicle Group, effective April 1, 2023. Yelton has 29 years at Eaton, while Denk joined in 2018, having previously worked at Bosch. Eaton focuses on improving quality of life and environmental sustainability, reporting revenues of $19.6 billion in 2021, and serves customers in over 170 countries.

Eaton Corporation plc (NYSE:ETN) reported strong third quarter results, with earnings per share (EPS) of $1.52 and record adjusted EPS of $2.02, a 15% increase from 2021. Sales reached $5.3 billion, up 8%, driven by 15% organic sales growth. Segment margins were at a record 21.2%, exceeding guidance. Operating cash flow increased by 29% to $965 million, and free cash flow rose 36% to $830 million. The company reaffirmed its full-year adjusted EPS guidance midpoint at $7.56. Strong order growth and backlog improvements were noted across all segments, particularly in Electrical and Aerospace.

The Board of Directors of Eaton has declared a quarterly dividend of $0.81 per ordinary share, payable on November 30, 2022, to shareholders of record as of November 10, 2022. Eaton has consistently paid dividends since 1923. With reported revenues of $19.6 billion in 2021, the company is committed to sustainable practices and is focused on global growth trends such as electrification and digitalization, aiming to drive the transition to renewable energy.

Eaton (NYSE:ETN) is set to announce its third quarter 2022 earnings on November 1, 2022, before the stock market opens. A conference call will follow at 11 a.m. Eastern time to discuss these earnings with analysts and institutional investors. The call can be accessed via a live webcast on the company's website. In 2021, Eaton reported revenues of $19.6 billion and operates in over 170 countries. The company focuses on improving quality of life and environmental protection through sustainable power management.

Eaton (NYSE:ETN) announced that its Chairman and CEO, Craig Arnold, will participate in the Morgan Stanley 10th Annual Laguna Conference on September 14 at 9:55 a.m. Pacific time. Mr. Arnold will engage in a fireside chat and address investor questions. A live webcast will be available on Eaton's Investor Relations website, with a replay accessible afterward. Founded in 1911, Eaton reported $19.6 billion in revenue for 2021 and operates globally, dedicated to improving quality of life and advancing renewable energy.

Eaton (NYSE:ETN) announces the appointment of Matt Hockman as president of its Crouse-Hinds, B-Line and Oil and Gas organization. Hockman, who has 25 years of experience with Eaton, will lead global teams focused on technologies for harsh environments in sectors like commercial construction and oil and gas. He takes over from Scott Hearn, who retired after 14 years. Hockman holds a bachelor’s degree in business economics from North Dakota State University and previously served as senior vice president at Eaton’s Power Distribution division.

Eaton (NYSE:ETN) announced the retirement of Christopher M. Connor from its Board of Directors, effective August 31, 2022. Connor has served on the board since 2006 and has been the lead director. His leadership has been acknowledged as significant, with CEO Craig Arnold expressing gratitude for his impact on the company. Gregory R. Page will take over as lead director starting September 1, 2022. Eaton continues to focus on sustainability and power management, reporting $19.6 billion in revenues for 2021 and serving customers in over 170 countries.