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Eaton: 3Q Earnings Snapshot

Eaton: 3Q Earnings Snapshot

AP Reported by: AP
Published on: October 30, 2018 19:00 IST
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DUBLIN (AP) — Eaton Corp. PLC (ETN) on Tuesday reported third-quarter profit of $416 million.

The Dublin-based company said it had net income of 95 cents per share.

Excluding one-time items, adjusted income was $1.43 per share. The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The power management company posted revenue of $5.41 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $5.49 billion.

Eaton expects full-year earnings to be $5.30 to $5.40 per share.

Eaton shares have fallen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has declined 1 percent. The stock has fallen 11 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETN at https://www.zacks.com/ap/ETN

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
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