Eaton Q2 2023: Adj EPS $2.21, records; raises FY guidance to $8.75 midpoint

Eaton Corp plc

2023-Q2 EPS reported $3.45 revenue$11,349,000,000

Record Q2 adj EPS $2.21 (+18% YoY); GAAP EPS $1.86. Sales $5.9B (+13% organic, also a record).
Record segment margin 21.6% (+150bps YoY); operating cash flow $851M (+150%), free cash flow $691M (+244%).
Electrical Americas sales $2.5B (+19% organic); segment margin 26.4% (+320bps). Aerospace sales $848M (+14%).
FY adj EPS guidance raised to $8.65-$8.85 (midpoint $8.75, +16%); Q3 adj EPS guided $2.27-$2.37.
Backlog grew 30% in Electrical Americas and 26% in Aerospace; overall book-to-bill 1.2.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Eaton Corp plc reported quarter ended June 30, 2023 results: revenue $5.9 billion, EPS $1.86. Guidance raised.

Period: quarter ended June 30, 2023
Revenue: $5.9 billion
EPS: $1.86
Guidance: raised
Result: reported results

Exact text from the filing

DUBLIN--(BUSINESS WIRE)--August 1, 2023--Intelligent power management company Eaton Corporation plc (NYSE:ETN) today announced that earnings per share were $1.86 for the second quarter of 2023. Excluding charges of $0.21 per share related to intangible amortization, $0.08 per share related to acquisitions and divestitures, and $0.06 per share related to a multi-year restructuring program, adjusted earnings per share of $2.21 were a quarterly record and up 18% over the second quarter of 2022. Sales in the quarter were $5.9 billion, a quarterly record and up 13% from the second quarter of 2022, driven entirely by organic sales growth. Segment margins were 21.6%, a quarterly record and a 150-basis point improvement over the second quarter of 2022. Operating cash flow in the quarter was $851 million and free cash flow was $691 million, up $511 million and $490 million, respectively, over the same period in 2022 and in-line with full year targets. The company raised its full year adjusted e

View on SEC.gov

12 earnings releases filed in the last 30 days. Browse all earnings releases →

Eaton Corp plc filing history →

Source: SEC EDGAR

accession 0001157523-23-001199

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.