Eaton - ETN STOCK NEWS

Eaton has appointed Thomas B. Okray as executive vice president and chief financial officer, effective April 1, 2021, succeeding Richard H. Fearon, who retires on March 31, 2021. Okray has a strong background in finance, previously serving as CFO at W.W. Grainger, Advance Auto Parts, and holding key financial roles at Amazon and General Motors. He will report directly to Craig Arnold, the chairman and CEO of Eaton. The transition will be collaborative, ensuring continuity in leadership during this significant change.

Power management company Eaton has appointed Raja Ramana Macha as executive vice president and chief technology officer, reporting directly to CEO Craig Arnold. Previously, Macha held senior positions at Schneider Electric, Geometric Limited, and Tata Consultancy Services. He has a master’s diploma in business administration and a bachelor's degree in Electronics and Communications Engineering. Macha will relocate to Dublin, Ireland, to assume his new role. Eaton aims to enhance quality of life through sustainable power management technologies, with revenues of $21.4 billion in 2019.

Power management company Eaton (NYSE:ETN) announced that its Chairman and CEO, Craig Arnold, will speak at the Credit Suisse 8th Annual Global Industrials Conference on December 4, 2020, at 3:10 p.m. ET. A live webcast will be available on Eaton's Investor Relations website, with a replay accessible afterwards. Eaton aims to enhance life quality and the environment through power management technologies, boasting 2019 revenues of $21.4 billion, serving customers in over 175 countries, and employing approximately 92,000 individuals.

Eaton has launched a new remote monitoring application designed for industrial process customers in sectors such as oil and gas, mining, and chemical processing. This application aggregates operational data across various manufacturers’ equipment, helping to prevent downtime and optimize power usage. Part of the Brightlayer Industrial suite, it leverages predictive maintenance analytics to enhance facility management through data insights. The wireless connectivity feature simplifies installation and maintenance, promoting safety and operational efficiency.

Eaton Corporation reported Q3 2020 earnings per share of $1.11, adjusting to $1.18 after excluding $0.07 in charges. Total sales reached $4.5 billion, reflecting a 9% organic decline, impacted by divestitures. However, segment margins were strong at 17.6%. Operating cash flow totaled $921 million with free cash flow of $832 million. Share repurchases amounted to $177 million in Q3, aiming for $1.7 to $1.9 billion in total repurchases for the year. The fourth-quarter outlook remains uncertain due to the pandemic's effects, though momentum is anticipated in various business segments.

The Board of Directors of Eaton (NYSE:ETN) declared a quarterly dividend of $0.73 per ordinary share, payable on November 20, 2020, to shareholders of record by the close of business on November 6, 2020. Eaton has consistently paid dividends since 1923.

In 2019, Eaton reported revenues of $21.4 billion and offers sustainable power management solutions globally, serving customers in over 175 countries with approximately 92,000 employees.

Eaton Cummins Automated Transmission Technologies has launched its Endurant HD™ 12-speed automated transmission, touted as the lightest and most efficient heavy-duty transmission with 1,850 lb.-ft. capability. Now available across major North American truck manufacturers like International, Freightliner, Volvo, Peterbilt, and Kenworth, it features an exclusive fluid pressure sensor, extended maintenance intervals, and superior low-speed performance. The standard warranty spans 5 years/750,000 miles for linehaul vehicles. More details can be found on Eaton Cummins' website.

Eaton has launched the Brightlayer digital foundation, marking a pivotal step in its evolution into an intelligent power management company. This innovative framework allows customers to enhance the efficiency of power usage and distribution through connected devices and advanced data insights. Brightlayer consists of four layers: data, platform, solutions, and experience, addressing industry-specific challenges in utilities, data centers, and more. Eaton aims to equip customers with real-time data access, ensuring safer and more sustainable power management.

Eaton has been included in the FTSE4Good Index Series for the fourth consecutive year, highlighting its strong commitment to environmental, social, and governance (ESG) practices. The FTSE4Good Index assesses companies demonstrating responsible business conduct, aiding investors in creating sustainable investment funds. Eaton reported revenues of $21.4 billion in 2019 and operates in over 175 countries with a workforce of approximately 92,000 employees. The recognition reflects Eaton's dedication to stakeholders, including customers, employees, shareholders, and communities.