Summary of Eaton Conference Call - December 02, 2025 Company Overview - **Company**: Eaton (NYSE:ETN) - **Industry**: Multi-Industry, focusing on electrical components, data centers, and aerospace Key Points and Arguments Strategic Direction - **Leadership Change**: Paulo Ruiz took over as CEO in mid-2025, indicating a shift towards growth verticals, highlighted by the acquisition of Boyd Thermal [6][8] - **Three Strategic Pillars**: 1. **Lead for Growth**: Emphasizes customer-centricity and agility in decision-making [7] 2. **Execute for Growth**: Focus on operational excellence and strong management to seize market opportunities [7] 3. **Invest for Growth**: Commitment to invest in high-margin, high-growth sectors, particularly data centers and utilities [8][9] Market Performance - **Order Growth**: Significant increase in orders from Electric Americas, rising from approximately $3.4 billion to over $4 billion in a quarter [16] - **Data Center Market**: Projected growth in U.S. data center capacity from 20 gigawatts to nearly 40 gigawatts by the end of 2023, with a backlog of 165 gigawatts in announced projects [20][22] - **Year-over-Year Orders**: Data center orders increased by 70% year-over-year in Q3 [22] Backlog and Revenue Growth - **Backlog Analysis**: Current backlog is 34%-35% of revenue, more than double historical levels, driven by strong end-market demand rather than lead time issues [26][28] - **Growth Expectations**: Anticipated market growth of around 7% in 2026, with Eaton planning to outperform this [98] Acquisitions and Market Position - **Acquisition of Boyd Thermal**: Expected to enhance Eaton's capabilities in liquid cooling and data center solutions, with Boyd projected to grow 70% next year [53][55] - **Differentiation**: Eaton's comprehensive portfolio from utility feeders to chips sets it apart from competitors, with a strong focus on integrated solutions [40][42] Financial Outlook - **Valuation Discussion**: Expected EBITDA multiple to decrease to single digits due to high growth rates (40% CAGR from 2026 to 2029) [68][70] - **Incremental Margins**: Anticipated recovery of incremental margins as operational inefficiencies are addressed by the end of 2026 [82][134] Challenges and Considerations - **Market Dynamics**: The transition to AI and high-voltage data centers presents both opportunities and challenges, requiring continuous innovation [29][67] - **Pension and Corporate Costs**: Potential negative impacts on financials due to pension adjustments and acquisition-related costs [100][102] Conclusion - **Future Growth**: Eaton is positioned for strong growth in the data center market and beyond, with a clear strategy focused on operational excellence, strategic acquisitions, and market leadership [132][134]

12/12/2025 Payable – 12/24/2025 Municipal Bond Funds: Fund Ticker Distribution Change From Prior Distribution Closing Market Price – 11/28/25 Distribution Rate at Market Price Eaton Vance California Municipal Income Trust CEV $0.0500 - $10.49 5.72% Eaton Vance Municipal I. BOSTON--(BUSINESS WIRE)--The following Eaton Vance closed-end funds (the "Funds†) announced distributions today as detailed below. Declaration – 12/1/2025 Ex-Date – 12/12/2025 Record – ...

November 27, 2025 07:23 AM GMT Capital Goods | Europe 800vDC: Potential paradigm shift to data center power architecture, but jury still out on which player will emerge strongest Key Takeaways Backdrop: 800vDC (*vDC = voltage direct current) refers to a new data center power architecture that is currently being mapped out for future AI data centers using the Nvidia Vera Rubin GPUs. Right now, AI server racks are around ~50kw to ~200 kw/rack of power consumption. However, with Vera Rubin servers, this is loo ...

全球与中国按钮式玻璃纤维外壳市场竞争格局及投资商机分析报告2025-2031年 -*-*-*-中-*-赢-*-信-*-合-*-研-*-究-*-网-*-*-*-* 【出版机构】：中赢信合研究网 【内容有删减·详细可参中赢信合研究网出版完整信息！】 报告目录 1 按钮式玻璃纤维外壳市场概述 1.1 产品定义及统计范围 1.2 按照不同产品类型，按钮式玻璃纤维外壳主要可以分为如下几个类别 1.2.1 全球不同产品类型按钮式玻璃纤维外壳销售额增长趋势2018 VS 2025 VS 2031 1.2.2 玻璃纤维增强聚酯 1.2.3 聚氯乙烯 1.3 从不同应用，按钮式玻璃纤维外壳主要包括如下几个方面 1.3.1 全球不同应用按钮式玻璃纤维外壳销售额增长趋势2018 VS 2025 VS 2031 1.3.2 化工 1.4 按钮式玻璃纤维外壳行业背景、发展历史、现状及趋势 1.3.3 采矿业 1.3.4 其他 1.4.1 按钮式玻璃纤维外壳行业目前现状分析 1.4.2 按钮式玻璃纤维外壳发展趋势 2 全球按钮式玻璃纤维外壳总体规模分析 2.1 全球按钮式玻璃纤维外壳供需现状及预测（2018-2031） 2.1.1 全球 ...

Tom, let's talk markets and some stocks to watch with Stephanie Link, chief investment strategist and portfolio manager at High Tower Adviserss. Of course, she is a contributor uh at CNBC as well. And it's nice to see you with the Christmas tree up. This is, you know, the Christmas tree up being it makes sense now. It makes sense.A little earlier maybe not, but now I'm with you. >> I'm with you. Um we're looking at a whole bunch of stocks.Let's just start with >> Let's just start with Novo, though. What Wha ...

Core Viewpoint - Eaton announced the planned transition of Olivier Leonetti, the executive vice president and chief financial officer, effective April 1, 2026, as part of a strategic leadership change [1][4]. Company Leadership Transition - Olivier Leonetti will leave Eaton on April 1, 2026, and will continue in his current role until a successor is named [1][3]. - A thorough internal and external search for a successor will be conducted with the support of a third-party executive search firm [3]. - CEO Paulo Ruiz expressed gratitude for Leonetti's contributions and leadership during his tenure [2][4]. Company Performance and Guidance - Eaton expects no changes to its full-year guidance for 2025, reaffirming the outlook provided in the Q3 earnings call [7]. - The company reported record third-quarter earnings per share of $2.59, with adjusted earnings per share reaching $3.07, marking a quarterly record [12]. Company Overview - Eaton is an intelligent power management company with revenues of nearly $25 billion in 2024, serving customers in over 160 countries [6]. - The company focuses on sustainability and aims to address urgent power management challenges through electrification and digitalization [5]. Recognition and Events - Eaton was ranked as the number one most sustainable company on Investor's Business Daily's list of the 50 Most Sustainable Companies for 2025 [9]. - CEO Paulo Ruiz will participate in the UBS Global Industrials and Transportation Conference on December 2, 2025, discussing the company's growth strategy [8].

Core Insights - Eaton's CEO, Paulo Ruiz, will participate in the UBS Global Industrials and Transportation Conference on December 2, 2025, at 9:40 a.m. Eastern time [1] - The discussion will focus on the company's growth strategy in key end markets, including data centers, utilities, and aerospace [1] - A live webcast of the event will be available on the company's Investor website [1]

Core Insights - Parker-Hannifin Corporation (NYSE:PH) announced a significant acquisition of Filtration Group for $9.25 billion, which is expected to enhance its position in the heating and cooling market [2] - The acquisition aligns with the growing demand for data centers and liquid cooling solutions, making Parker-Hannifin a notable player in this sector [2][3] - Jim Cramer highlighted Parker-Hannifin as a "standout stock," emphasizing its strong performance and the impact of data center orders from major contractors [3] Company Overview - Parker-Hannifin Corporation is one of the largest industrial equipment companies globally, specializing in motion control systems, hydraulics, and avionics systems [2] - The company is positioned to benefit from the ongoing construction boom in data centers, which is described as the largest since World War II [3] Market Context - The acquisition of Filtration Group is seen as a strategic move to capitalize on the increasing demand for data center infrastructure, particularly in relation to AI and liquid cooling technologies [2] - Cramer noted that Parker-Hannifin's stock experienced a notable increase of $13 in a single trading session, reflecting positive market sentiment [3]

Core Viewpoint - The urban rail transit DC traction power supply system is a critical infrastructure for providing electrical energy to urban rail vehicles, ensuring efficient and safe operation in cities [1][6]. Market Overview - The global market for urban rail transit DC traction power supply systems is projected to reach approximately 6,240.81 million in 2024, with an expected growth to 9,199.40 million by 2031, reflecting a compound annual growth rate (CAGR) of 5.49% from 2025 to 2031 [3]. Industry Demand Drivers - Urbanization is accelerating globally, leading to increased investment in urban rail transit systems, which drives demand for DC traction power supply systems [10]. - China's urban rail transit construction is expanding rapidly, with 18 new operational lines and 748 kilometers added in 2024, contributing to significant market demand [6]. - The Asia-Pacific region, particularly China, is a key consumer market, with ongoing advancements in technology and international competitiveness in DC traction power supply systems [6]. Key Players - Major global manufacturers in the urban rail transit DC traction power supply system market include CRRC Times Electric, Siemens Mobility, Hitachi Energy, and others [7]. Product Segmentation - The market is primarily divided into three categories: converter products, switchgear products, and others, with converter products accounting for approximately 54.43% of the global market revenue in 2024, valued at 3,396.61 million [9]. Technological Innovations - The release of the group standard for "Active Traction Power Supply Systems" has spurred the development of bidirectional conversion technology and energy quality optimization control technology, enhancing supply efficiency and energy quality [12]. Market Opportunities - The need for upgrading existing rail lines due to aging infrastructure and increasing passenger demand presents new growth opportunities for the DC traction power supply system market [13]. - The international market expansion is being driven by Chinese and German companies leveraging their technological advantages to participate in overseas projects [14]. Policy and Regulatory Environment - Recent policies aim to optimize market access for new industries, including urban rail transit, which may influence the development speed and direction of the industry [20][21].

Core Insights - Eaton has been recognized as the number one most sustainable company on Investor's Business Daily's list of the 50 Most Sustainable Companies for 2025 [1] Group 1 - This recognition highlights Eaton's commitment to integrating sustainability as a key driver for growth and innovation [1]