Eaton posts record Q1 adjusted EPS $1.88 (+16% YoY), raises FY2023 guidance

Eaton Corp plc

2023-Q1 EPS reported $1.59 revenue$5,483,000,000

Record Q1 adjusted EPS $1.88, up 16% YoY; GAAP EPS $1.59. Sales $5.5B, organic +15%.
Segment margins record 19.7% (+90bps): Electrical Americas 22.9% (+380bps), Electrical Global 18.3%, Aerospace 22.5%.
Raised FY2023 organic growth guidance to 9-11% (from 7-9%); adj. EPS guidance to $8.30-$8.50 (up $0.16 midpoint).
Q2 outlook: organic growth 10-12%, adj. EPS $2.04-$2.14. Backlog up: Electrical Americas +51%, Aerospace +27%.
Free cash flow $209M (up $282M YoY); operating cash flow $335M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Eaton Corp plc reported for the quarter ended March 31, 2023 results: revenue $5.5 billion, EPS $1.59. Guidance raised.

Period: for the quarter ended March 31, 2023
Revenue: $5.5 billion
EPS: $1.59
Guidance: raised
Result: reported results

Exact text from the filing

to a multi-year restructuring program, adjusted earnings per share of $1.88 were a first quarter record and up 16% over the first quarter of 2022. Sales in the quarter were $5.5 billion, up 13% from the first quarter of 2022. Organic sales were up 15%, which was partially offset by 2% from negative currency translation. Segment margins were 19.7%, a first

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Source: SEC EDGAR

accession 0001157523-23-000671

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