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Eaton: 1Q Earnings Snapshot

DUBLIN (AP) _ Eaton Corp. PLC (ETN) on Tuesday reported first-quarter earnings of $522 million.

The Dublin-based company said it had net income of $1.23 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.26 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The power management company posted revenue of $5.31 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $5.4 billion.

For the current quarter ending in July, Eaton expects its per-share earnings to range from $1.45 to $1.55. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.51.

The company expects full-year earnings in the range of $5.72 to $6.02 per share.

Eaton shares have risen 22% since the beginning of the year, while the Standard & Poor's 500 index has increased 17%. The stock has climbed 10% in the last 12 months.


This story was 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