Eaton Corporation, PLC Ordinary Shares
ETN · NYSE
Next quarter
Expected to report Nov 3, 2026 — estimated from last year’s reporting date.
Consensus is $3.52 EPS for Sep 2026 across 6 estimates, ranging $3.50 to $3.55.
ETN Jun 2026
- 2.27%
- +5.55%
- $3.08
- $3.15
- —
- $8.53B
Reported results
- $8.53B
- 33.47%
- $821.00M
- $2.11
Highlights
- Second-quarter revenue was $8.531 billion, compared with $7.028 billion in the year-ago quarter; net income was $0.82 billion versus $0.98 billion.
- Electrical Americas reported $3.951 billion of sales, including $1.144 billion from Products and $2.806 billion from Systems.
- Electrical Global sales were $2.517 billion, comprising $1.627 billion of Products and $890 million of Systems.
- Aerospace sales were $1.222 billion, including $456 million from original equipment manufacturers, $474 million from aftermarket and $292 million from Industrial and Other.
- Mobility sales were $841 million, with $684 million from Vehicle and $157 million from eMobility, compared with total Mobility sales of $845 million in the year-ago quarter.
- Backlog was approximately $24.1 billion at June 30, 2026, with approximately 71% targeted for delivery within twelve months; no capital-expenditure or earnings guidance was provided in the supplied material.
Analysis
No consensus figures are on file, so the quarter cannot be assessed against an external earnings expectation. Eaton’s revenue reached $8.531 billion, above $7.45 billion in the prior quarter and $7.028 billion a year earlier, while net income declined to $0.82 billion from $0.98 billion in the year-ago quarter and $0.87 billion in the prior quarter. Electrical Americas was the largest contributor at $3.951 billion, supported by $2.806 billion of Systems sales. Electrical Global delivered $2.517 billion, while Aerospace contributed $1.222 billion. Mobility was essentially stable at $841 million versus $845 million, as Vehicle sales of $684 million were partly offset by eMobility sales of $157 million versus $182 million. The filing does not provide operating or net margins, so the earnings decline cannot be attributed to a quantified margin change. Acquisitions also contributed reported results, including Boyd Thermal sales of $524 million and Ultra PCS sales of $111 million.
Guidance
The supplied material contains no management guidance for upcoming revenue, earnings, margins, cash flow, capital expenditures or segment performance, and therefore provides no range to compare with a prior guide. It does disclose approximately $24.1 billion of backlog at June 30, 2026, with approximately 71% targeted for delivery over the next twelve months, but backlog is not presented as formal financial guidance. The planned Mobility separation is expected to close in the first quarter of 2027, subject to Dana stockholder approval, regulatory approvals and customary closing conditions. Eaton also expects to receive a cash distribution of approximately $1.1 billion before completion, subject to adjustments and transaction-related charges.
What drove it
- Electrical Americas — Sales were $3.951 billion, including $2.806 billion from Systems and $1.144 billion from Products.
- Electrical Global — Sales were $2.517 billion, consisting of $1.627 billion of Products and $890 million of Systems.
- Aerospace — Sales were $1.222 billion, with aftermarket contributing $474 million and original equipment manufacturers contributing $456 million.
- Mobility mix — Mobility sales were $841 million, including $684 million from Vehicle and $157 million from eMobility.
- Acquisition contribution — Boyd Thermal contributed $524 million of sales and $121 million of segment operating profit, while Ultra PCS contributed $111 million of sales and $31 million of segment operating profit.
Watch items
- Net income declined to $0.82 billion from $0.98 billion in the year-ago quarter and $0.87 billion in the prior quarter, while the supplied material gives no quantified margin explanation.
- Mobility sales were $841 million versus $845 million in the year-ago quarter, and eMobility sales fell to $157 million from $182 million.
- The Boyd Thermal and Ultra PCS purchase-price allocations remain preliminary, and the filing says revisions could have a material impact on the allocation.
- The planned Mobility transaction is dependent on Dana stockholder approval, regulatory approvals and customary closing conditions, with completion expected in the first quarter of 2027.
