Eaton's Q3 Earnings Surpass Estimates, Revenues Lag, Backlog Swells

Eaton Corporation (ETN) reported third-quarter 2024 earnings of $2.84 per share, which surpassed the Zacks Consensus Estimate by 1.4%. The bottom line increased nearly 15% year over year and came ahead of the guidance of $2.73-$2.83. This improvement can be attributed to increased project activity tied to a multi-year restructuring program and the contribution of acquired assets.GAAP earnings for the reported quarter were $2.53 per share, up 14% from $2.22 in the year-ago quarter. The difference between GAA ...