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Eaton (ETN) Reports Q2 Earnings: What Key Metrics Have to Say
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Eaton (ETN - Free Report) reported $5.87 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 12.6%. EPS of $2.21 for the same period compares to $1.87 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.74 billion, representing a surprise of +2.21%. The company delivered an EPS surprise of +4.74%, with the consensus EPS estimate being $2.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Eaton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- eMobility: $161 million versus $153.50 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +18.4% change.
Net Sales- Aerospace: $848 million versus $822.86 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +14.3% change.
Net Sales- Vehicle: $751 million versus $739.59 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.1% change.
Net Sales- Electrical Global: $1.57 billion versus $1.58 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
Net Sales- Electrical Americas: $2.54 billion compared to the $2.42 billion average estimate based on five analysts. The reported number represents a change of +19.1% year over year.
Operating Profit- Aerospace: $191 million versus the five-analyst average estimate of $185.27 million.
Operating Profit- Vehicle: $115 million versus $114.18 million estimated by five analysts on average.
Operating Profit- Electrical Global: $290 million compared to the $306 million average estimate based on five analysts.
Operating Profit- Electrical Americas: $669 million versus $575.37 million estimated by five analysts on average.
Operating Profit- eMobility: -$1 million versus $0.95 million estimated by five analysts on average.
Shares of Eaton have returned +2.3% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Eaton (ETN) Reports Q2 Earnings: What Key Metrics Have to Say
Eaton (ETN - Free Report) reported $5.87 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 12.6%. EPS of $2.21 for the same period compares to $1.87 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.74 billion, representing a surprise of +2.21%. The company delivered an EPS surprise of +4.74%, with the consensus EPS estimate being $2.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Eaton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- eMobility: $161 million versus $153.50 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +18.4% change.
- Net Sales- Aerospace: $848 million versus $822.86 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +14.3% change.
- Net Sales- Vehicle: $751 million versus $739.59 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.1% change.
- Net Sales- Electrical Global: $1.57 billion versus $1.58 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
- Net Sales- Electrical Americas: $2.54 billion compared to the $2.42 billion average estimate based on five analysts. The reported number represents a change of +19.1% year over year.
- Operating Profit- Aerospace: $191 million versus the five-analyst average estimate of $185.27 million.
- Operating Profit- Vehicle: $115 million versus $114.18 million estimated by five analysts on average.
- Operating Profit- Electrical Global: $290 million compared to the $306 million average estimate based on five analysts.
- Operating Profit- Electrical Americas: $669 million versus $575.37 million estimated by five analysts on average.
- Operating Profit- eMobility: -$1 million versus $0.95 million estimated by five analysts on average.
View all Key Company Metrics for Eaton here>>>Shares of Eaton have returned +2.3% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.