Every 10-Q that Eaton Corporation plc (ETN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ETN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ETN filings page.
Eaton Corporation plc reported Q2 2026 net sales of $8,531 million, up 21% year over year, driven by 14% organic growth and acquisitions. Net income attributable to ordinary shareholders declined to $821 million as gross margin fell to 33.5% from 37.0% and the effective tax rate rose to 28.1%.
Adjusted earnings increased to $1,228 million and adjusted EPS to $3.15, with segment operating profit higher across Electrical Americas, Electrical Global, Aerospace and Mobility. Backlog was approximately $24.1 billion, and operating cash flow for the first six months rose to $1,634 million.
Eaton completed major acquisitions, including Boyd Thermal for $9.55 billion and Ultra PCS for $1.53 billion, alongside issuance of $8,500 million of new U.S. notes, €1,200 million of Euro notes and increased commercial paper, lifting total assets to $56,181 million and long-term debt and current portion to $18,520 million. The company also advanced plans to separate its Mobility segment via a Reverse Morris Trust with Dana, expecting a $1.1 billion cash distribution and closing in the first quarter of 2027.
Eaton Corporation plc reported first-quarter 2026 net sales of $7.45 billion, up 17% from 2025, driven by strong Electrical and Aerospace demand and recent acquisitions. Net income attributable to ordinary shareholders fell to $866 million and diluted EPS to $2.22, mainly from higher interest, amortization, restructuring, and deal costs.
Adjusted earnings, which exclude acquisition, restructuring and amortization items, rose to $1.09 billion, with adjusted EPS of $2.81, modestly above 2025. Gross margin declined to 35.6% from 38.4% as commodity and wage inflation more than offset pricing and efficiency gains.
Eaton closed major deals, acquiring Ultra PCS for about $1.53 billion and Boyd Thermal for about $9.55 billion, sharply increasing goodwill and intangibles. It financed this largely through new $8.5 billion U.S. notes, €1.2 billion Euro notes, and higher commercial paper, substantially raising long‑term debt.
The company plans to spin off its Mobility segment as a separate public company by the end of the first quarter of 2027, subject to approvals, and continues a multi‑year restructuring program with total expected charges of $475 million. Backlog reached about $22.8 billion, with roughly two‑thirds targeted for delivery within 12 months.
Eaton Corporation plc reported Q3 2025 results with net sales of $6,988 million, up from $6,345 million a year ago. Net income attributable to ordinary shareholders was $1,010 million and diluted EPS was $2.59 versus $2.53. Operating margin benefited from higher Electrical segment activity, while interest expense rose with new debt issuances.
Year to date, sales reached $20,393 million and EPS (diluted) was $7.54. Backlog was approximately $18.4 billion at September 30, 2025, with about 66% targeted for delivery in the next twelve months. Eaton closed the $1.45 billion acquisition of Fibrebond, contributing $323 million of sales and $106 million of segment operating profit since closing, and acquired Resilient Power Systems for $86 million. It also signed agreements to acquire Ultra PCS for $1.55 billion and Boyd Thermal for $9.5 billion, both subject to customary approvals.
Cash from operations was $2,507 million for the first nine months. The company repurchased 5.2 million shares for $1,661 million and paid $1,222 million in dividends year to date. Liquidity was reinforced by a new $3.0 billion five-year revolving credit agreement; $755 million was outstanding under the commercial paper program. There were 388.4 million ordinary shares outstanding as of September 30, 2025.
Eaton (ETN) Q2-25 10-Q – key takeaways (YoY unless noted):
- Net sales rose 10.7% to $7.03 billion; YTD up 9.0% to $13.40 billion.
- Net income attributable eased 1.1% to $982 million; diluted EPS up 1.2% to $2.51. Six-month EPS up 9.7% to $4.96.
- Segment trends: Electrical Americas +16% (helped by Fibrebond), Electrical Global +9%, Aerospace +13%; Vehicle -8%, eMobility -4%.
- Gross profit $2.60 billion (36.9% margin) vs $2.41 billion (38.0%), reflecting higher input costs and mix.
- Backlog reached $17.5 billion (≈70% due <12 mths).
- Cash flow: operating cash $1.16 billion (-19% YTD) on $1.40 billion working-capital outflow.
- Balance sheet: Cash & ST investments fell to $584 million (-$1.5 billion) after the $1.45 billion Fibrebond acquisition. Net debt rose ≈$3 billion; total debt $9.89 billion.
- Capital moves: • Issued €500 m 3.625% notes due 2035 and $500 m 4.45% notes due 2030 • Repurchased 4.2 m shares for $1.31 billion YTD • Dividends $2.08/sh YTD (+11%).
- M&A pipeline: closed Fibrebond (adds $378 m TTM sales, $572 m goodwill); signed agreements to buy Ultra PCS ($1.55 billion, closes 1H26) and Resilient Power Systems ($55 m + earn-outs, closes 3Q25).
- Tax & legal: effective tax rate 17.2% (up 40 bp); Brazil goodwill cases continue but recent rulings cut potential penalties.
Overall: Solid top-line growth and strategic expansion in electrification and aerospace, offset by margin pressure, lower vehicle volume, higher leverage and working-capital drag.