Eaton Stock Price, News & Analysis

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.

Eaton Corporation plc (NYSE:ETN) reported second quarter 2022 earnings per share of $1.50, with a record adjusted EPS of $1.87, up 9% from Q2 2021. Sales reached $5.2 billion, with 11% organic growth. Segment margins hit 20.1%, reflecting a 150 basis point increase year-over-year. The company raised its full-year organic growth guidance from 9-11% to 11-13%, anticipating Q3 organic growth of 13-15%. Strong order growth, particularly in Electrical and Aerospace, indicates robust demand and a record backlog, up 25% in Electrical and 19% in Aerospace.

The Board of Directors of Eaton has declared a quarterly dividend of $0.81 per ordinary share, payable on August 26, 2022, to shareholders of record on August 12, 2022. Eaton has a long history of paying dividends, having done so annually since 1923. The company, with reported revenues of $19.6 billion in 2021, focuses on intelligent power management and sustainability, aligning with global trends of electrification and digitalization.

Eaton (NYSE:ETN) will announce its second quarter 2022 earnings on August 2, 2022, prior to the NYSE opening. A conference call will take place at 11 a.m. Eastern time to discuss the results with analysts. This call will be accessible via a live webcast on Eaton's website. The company, a leader in intelligent power management, reported $19.6 billion in revenues for 2021 and serves customers in over 170 countries. The focus on electrification and digitalization aims to transition toward renewable energy solutions.

Eaton (NYSE:ETN) has finalized the acquisition of a 50% stake in Jiangsu Huineng Electric Co., Ltd., a Chinese manufacturer of low-voltage circuit breakers. This acquisition is a significant step in Eaton’s growth strategy, allowing them to access high-growth markets such as renewable energy and grid modernization. Huineng, established in 2007, is known for its products used broadly in wind, solar, and power plants. This partnership is expected to leverage Eaton's global distribution to enhance its market presence in Asia-Pacific and beyond.