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Eaton Corporation plc reports developments for an intelligent power management company serving data center, utility, industrial, commercial, institutional, machine building, residential, aerospace and mobility markets. Recurring updates cover earnings, orders, backlog, segment performance, dividends and capital allocation, with particular attention to Electrical Americas, Electrical Global, Aerospace and Mobility activities.
Company news also includes product and portfolio actions tied to electrification and digitalization. Eaton updates include data center power and cooling infrastructure, medium-voltage switchgear, grid-to-chip systems, aerospace aftermarket service agreements, residential electrification partnerships and completed acquisitions such as Boyd Thermal, which added liquid-cooling and thermal-management capabilities to the Electrical Global segment.
Eaton (NYSE:ETN) has finalized the sale of its Hydraulics business to Danfoss A/S. This business generated $1.8 billion in sales for 2020 and was recognized as a leader in hydraulics components and services. The chairman and CEO, Craig Arnold, emphasized that this sale is pivotal in Eaton’s ongoing transformation into a higher growth company with consistent earnings. Following this transaction, Eaton will focus on its four core businesses: Aerospace, Electrical, eMobility, and Vehicle, with the majority of profits stemming from Electrical and Aerospace.
The Board of Directors of power management company Eaton (NYSE:ETN) declared a quarterly dividend of $0.76 per ordinary share. This dividend is payable on August 27, 2021, to shareholders of record as of August 13, 2021. Eaton has consistently paid dividends since 1923. In 2020, Eaton reported revenues of $17.9 billion and operates in over 175 countries with approximately 96,000 employees, providing sustainable power management solutions.
Power management company Eaton (NYSE:ETN) has received approval from the U.S. District Court for the District of Columbia for the sale of its Hydraulics business to Danfoss A/S. With all regulatory approvals secured, Eaton anticipates closing the transaction on August 2, 2021. The sale is part of Eaton's strategy to enhance its power management technologies and services, expected to improve operational efficiency. In 2020, the company reported revenues of $17.9 billion and operates in over 175 countries with approximately 96,000 employees.
Power management company Eaton (NYSE:ETN) will report its second quarter 2021 earnings on August 3, 2021, before the NYSE opens. A conference call to discuss the results will take place at 11 a.m. Eastern time that day. The call will be accessible via a live webcast on Eaton's website, where the call replay and news release will also be available. In 2020, Eaton generated $17.9 billion in revenue, serving customers in over 175 countries with approximately 96,000 employees.
Eaton (NYSE:ETN) announces milestones in the sale of its Hydraulics business to Danfoss A/S. The DOJ filed a proposed settlement that addresses concerns regarding the acquisition, mandating the sale of select assets to Interpump Group S.p.A. The sale is not a prerequisite for closing the transaction with Danfoss. Additionally, the European Commission has approved Interpump as a buyer for these assets. Eaton anticipates closing the transaction in the coming weeks and appreciates the regulators' consideration of the deal.
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Power management company Eaton (NYSE:ETN) has acquired a 50 percent stake in Jiangsu YiNeng Electric’s busway business, which reported sales of $60 million in 2020. This acquisition is expected to enhance Eaton's power distribution and quality offerings in the Asia-Pacific region. Howard Liu, Eaton’s president for the Asia-Pacific Region, highlighted the strategic significance of combining YiNeng's local capabilities with Eaton's extensive portfolio, aiming to create tailored solutions for various industrial segments.
Eaton, a power management company, announced that Harold Jones, executive vice president, will join the Morgan Stanley Sustainable Futures Conference on June 9 at 2 p.m. Eastern time. During the event, he will discuss Eaton's sustainability strategy and progress towards its ESG goals. A live webcast will be accessible on Eaton’s Investor Relations website, with a replay available afterwards. In 2020, Eaton generated $17.9 billion in revenue, serving customers in over 175 countries and employing approximately 94,000 individuals.
Eaton (NYSE:ETN) has successfully completed the acquisition of Cobham Mission Systems, a prominent manufacturer specializing in air-to-air refueling systems and environmental systems for defense markets. With around 2,000 employees and manufacturing sites in both the U.S. and U.K., this strategic acquisition enhances Eaton's aerospace portfolio, aiming for increased growth and profitability. Eaton aims to deliver sustainable power management solutions globally, maintaining a strong financial performance with 2020 revenues of $17.9 billion.