Eaton Corporation Earnings Cheat Sheet: Sales Jump 22.6%

S&P 500 (NYSE:SPY) component Eaton Corporation (NYSE:ETN) reported higher profit for the first quarter as revenue showed growth. Eaton Corporation is a power management company offering services in the sectors of electricity, hydraulics, aerospace, truck and automotive.

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Eaton Earnings Cheat Sheet for the First Quarter

Results: Net income for the industrial electrical equipment company rose to $286 million (83 cents/share) vs. $155 million (46 cents/share) YoY. A rise of 84.5% from the year earlier quarter.

Revenue: Rose 22.6% to $3.8 billion YoY.

Actual vs. Wall St. Expectations: ETN beat the mean analyst estimate of 80 cents/share. Estimates ranged from 75 cents per share to 83 cents per share.

Quoting Management: Alexander M. Cutler, Eaton chairman and chief executive officer, said, “We had a strong first quarter, with earnings per share above the high end of our increased earnings guidance provided at the end of February. Our markets enjoyed strong growth during the first quarter, increasing 14 percent compared to the first quarter of 2010.”

Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 16.8%, with the biggest boost coming in the most recent quarter when revenue rose 22.6% from the year earlier quarter.

Competitors to Watch: ITT Corporation (NYSE:ITT), Magnetek (NYSE:MAG), Tech/Ops (NASDAQ:TO), General Electric (NYSE:GE), Sauer-Danfoss (NYSE:SHS), Dover (NYSE:DOV), Thomas & Betts (NYSE:TNB), Roper Industries (NYSE:ROP), Crane (NYSE:CR), Woodward (WWD), Johnson Controls Inc. (NYSE:JCI), and Parker Hannifin Corporation (NYSE:PH).

Today’s Performance: Shares of ETN (NYSE:ETN) are trading at $53.30 per share:


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