U.S. Markets close in 3 hrs 20 mins

Eaton tops Street 4Q forecasts

DUBLIN (AP) _ Eaton Corp. PLC (ETN) on Thursday reported fourth-quarter profit of $634 million.

The Dublin-based company said it had net income of $1.43 per share. Earnings, adjusted for pretax gains, were $1.29 per share.

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

The power management company posted revenue of $5.21 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $5.09 billion.

For the year, the company reported profit of $2.99 billion, or $6.68 per share. Revenue was reported as $20.4 billion.

For the current quarter ending in April, Eaton expects its per-share earnings to range from $1 to $1.10.

The company expects full-year earnings in the range of $5 to $5.20 per share.

Eaton shares have risen slightly more than 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 6 percent. The stock has climbed 19 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