Eaton Corporation (ETN - Free Report) reported third-quarter 2019 earnings of $1.52 per share, which surpassed the Zacks Consensus Estimate by a penny. The reported earnings were at the lower end of management’s guided range of $1.50-$1.60 per share. Moreover, the bottom line marked a 6% improvement from the year-ago level.
GAAP earnings in the reported quarter were $1.44 per share compared with 96 cents in the year-ago period. The difference between GAAP and operating earnings in the reported quarter was due to one-time acquisition and divestiture transaction and integration costs.
Revenues
Total revenues in the quarter came in at $5,314 million, lagging the Zacks Consensus Estimate of $5,545 million by 4.2%. Quarterly revenues also decreased 1.8% from the year-ago quarter.
The year-over-year decline in revenues was due to 1% fall in organic sales and negative currency translation of 1.5%. These negatives were partially offset by gains from acquired assets.
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Eaton Corporation (ETN - Free Report) reported third-quarter 2019 earnings of $1.52 per share, which surpassed the Zacks Consensus Estimate by a penny. The reported earnings were at the lower end of management’s guided range of $1.50-$1.60 per share. Moreover, the bottom line marked a 6% improvement from the year-ago level.
GAAP earnings in the reported quarter were $1.44 per share compared with 96 cents in the year-ago period. The difference between GAAP and operating earnings in the reported quarter was due to one-time acquisition and divestiture transaction and integration costs.
Revenues
Total revenues in the quarter came in at $5,314 million, lagging the Zacks Consensus Estimate of $5,545 million by 4.2%. Quarterly revenues also decreased 1.8% from the year-ago quarter.
The year-over-year decline in revenues was due to 1% fall in organic sales and negative currency translation of 1.5%. These negatives were partially offset by gains from acquired assets.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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