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Eaton misses Street 2Q forecasts

DUBLIN (AP) _ Eaton Corp. PLC (ETN) on Tuesday reported second-quarter profit of $515 million.

On a per-share basis, the Dublin-based company said it had net income of $1.15.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The power management company posted revenue of $5.13 billion in the period, which also fell short of Street forecasts. Eight analysts surveyed by Zacks expected $5.14 billion.

For the current quarter ending in October, Eaton expects its per-share earnings to range from $1.20 to $1.30. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.27.

The company expects full-year earnings in the range of $4.50 to $4.70 per share.

Eaton shares have climbed 17 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 10 percent. The stock has increased 23 percent 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


Keywords: Eaton, Earnings Report