U.S. markets open in 6 hours 57 minutes
  • S&P Futures

    3,817.50
    -21.50 (-0.56%)
     
  • Dow Futures

    31,409.00
    -56.00 (-0.18%)
     
  • Nasdaq Futures

    12,476.00
    -187.75 (-1.48%)
     
  • Russell 2000 Futures

    2,182.10
    -7.60 (-0.35%)
     
  • Crude Oil

    67.11
    +1.02 (+1.54%)
     
  • Gold

    1,697.80
    -0.70 (-0.04%)
     
  • Silver

    25.44
    +0.16 (+0.62%)
     
  • EUR/USD

    1.1888
    -0.0037 (-0.31%)
     
  • 10-Yr Bond

    1.5540
    0.0000 (0.00%)
     
  • Vix

    24.66
    -3.91 (-13.69%)
     
  • GBP/USD

    1.3813
    -0.0015 (-0.10%)
     
  • USD/JPY

    108.4570
    +0.0750 (+0.07%)
     
  • BTC-USD

    49,847.14
    +517.75 (+1.05%)
     
  • CMC Crypto 200

    1,009.56
    +66.39 (+7.04%)
     
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • Nikkei 225

    28,743.25
    -121.07 (-0.42%)
     

Eaton (ETN) to Report Q3 Earnings: What's in the Cards?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Eaton Corporation ETN is scheduled to release third-quarter 2020 earnings on Nov 3, before market open. This power management company delivered an earnings surprise of 34.6% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors at Play

Eaton implemented cost-management measures, which are likely to have provided it some relief amid tepid demand due to weakness in end-markets served caused by the novel coronavirus outbreak. Lower shares outstanding are likely to have had a positive impact on the bottom line.

Expectation

Due to weakness in end-market conditions, its organic revenues are expected to be down in the range of 13-17% for the third quarter.

The Zacks Consensus Estimate for the bottom line for the third quarter is pegged at $1.05 per share, indicating a 30.9% decline from the prior-year reported figure.

Eaton Corporation, PLC Price and EPS Surprise

Eaton Corporation, PLC Price and EPS Surprise
Eaton Corporation, PLC Price and EPS Surprise

Eaton Corporation, PLC price-eps-surprise | Eaton Corporation, PLC Quote

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for Eaton this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.

Earnings ESP: The company’s Earnings ESP is +4.98%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, Eaton carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Investors can also consider the following players from the same industry that too have the right combination of elements to beat on earnings in the upcoming releases.

SPX FLOW FLOW is scheduled to report third-quarter 2020 earnings on Oct 28. It has an Earnings ESP of +12.12% and a Zacks Rank #3.

Regal Beloit Corporation RBC is scheduled to report third-quarter 2020 earnings on Oct 29. It has an Earnings ESP of +3.23% and a Zacks Rank #2.

Emerson Electric Co. EMR is scheduled to report fiscal fourth-quarter 2020 earnings on Nov 3. It has an Earnings ESP of +2.11% and a Zacks Rank #3.

Zacks’ 2020 Election Stock Report:

In addition to the companies you learned about above, we invite you to learn more about profiting from the upcoming presidential election. Trillions of dollars will shift into new market sectors after the votes are tallied, and investors could see significant gains. This report reveals specific stocks that could soar: 6 if Trump wins, 6 if Biden wins.

Check out the 2020 Election Stock Report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Emerson Electric Co. (EMR) : Free Stock Analysis Report
 
Regal Beloit Corporation (RBC) : Free Stock Analysis Report
 
Eaton Corporation, PLC (ETN) : Free Stock Analysis Report
 
SPX FLOW, Inc. (FLOW) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research