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Shares of Eaton Corp (NYSE:ETN) rose 1.9% in pre-market trading after the company reported Q2 results.
Earnings per share were down 54.25% year over year to $0.70, which beat the estimate of $0.53.
Revenue of $3,856,000,000 declined by 30.31% from the same period last year, which beat the estimate of $3,690,000,000.
Earnings guidance hasn't been issued by the company for now.
Eaton Corp hasn't issued any revenue guidance for the time being.
Conference Call Details
Date: Jul 29, 2020
Time: 11:00 AM
Recent Stock Performance
52-week high: $105.78
Company's 52-week low was at $56.41
Price action over last quarter: Up 13.73%
Eaton is a diversified power management company operating for over 100 years. The company operates through various segments, including electrical products, electrical systems and services, aerospace, vehicle, and most recently, e-mobility. Eaton's portfolio can broadly be divided into two halves. One part of its portfolio is housed under its industrial sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, trucks, and construction markets, among others. The other portion is Eaton's electrical sector portfolio, which was strengthened with its acquisition of Cooper Industries in 2012. While the company receives favorable tax treatment as a domiciliary of Ireland, most of its operations take place in the U.S.
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