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Eaton's 4Q Profit Gains Despite Lower Sales

By Matt Grossman


Eaton Corp. posted stronger earnings in the latest quarter despite a decline in revenue.

The Ireland-based company, which makes power devices, logged earnings of $1.18 a share, compared with $1.09 a share in the same three-month period a year earlier. The company's net income attributable to ordinary shareholders was $475 million, down from $452 million in last year's fourth quarter.

The company's adjusted earnings were $1.28 a share. Analysts surveyed by FactSet had forecast an adjusted profit of $1.20 a share.

Revenue declined to $4.69 billion, down from $5.24 billion in 2019's fourth quarter. Analysts were forecasting revenue of $4.61 billion.

Organic sales fell 5%, and sales were reduced by a further 8% because of the company's divestitures of its lighting and automotive fluid-conveyance businesses.

Acquisitions partially offset the revenue decline, adding 2% to the company's sales figures.


Write to Matt Grossman at


(END) Dow Jones Newswires

February 02, 2021 07:00 ET (12:00 GMT)

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