Eaton Stock Price, News & Analysis

Eaton (NYSE:ETN) will release its fourth quarter 2020 earnings on February 2, 2021, prior to the NYSE opening. A conference call is scheduled for 11 a.m. Eastern Time on the same day, aimed at discussing the earnings results with analysts and investors. Access the live webcast on Eaton's website. In 2019, Eaton reported revenues of $21.4 billion, serving customers in over 175 countries and employing approximately 92,000 individuals. For further details, visit www.eaton.com.

Eaton (NYSE:ETN) has appointed Katrina R. Redmond as senior vice president and chief information officer (CIO), effective January 4, 2021. She succeeds Bill Blausey, who will retire on February 28, 2021. Redmond, previously with Hubbell, brings extensive experience from roles at ABB/GE Industrial Solutions and GE. In her new role, she will lead Eaton's global information technology strategy. Eaton reported revenues of $21.4 billion in 2019 and operates in over 175 countries with around 92,000 employees.

Power management company Eaton (NYSE:ETN) has agreed to acquire a 50% stake in HuanYu High Tech, a manufacturer of low-voltage circuit breakers and contactors in China, for an undisclosed value. HuanYu High Tech reported sales of $106 million in 2019 and operates in Wenzhou, China. The strategic partnership aims to leverage HuanYu's product portfolio and manufacturing capabilities alongside Eaton's global scale, enhancing their presence in the Southeast Asian market. The transaction is pending regulatory approvals and is expected to close in Q2 2021.

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.