UPDATE: Eaton (ETN) Tops Q3 EPS by 1c, Trims FY EPS Guidance
Eaton (NYSE: ETN) reported Q3 EPS of $1.52, $0.01 better than the analyst estimate of $1.51. Revenue for the quarter came in at $5.3 billion versus the consensus estimate of $5.5 billion.
Guidance:
- Lowering Midpoint of Full-Year 2019 Adjusted Earnings Per Share Guidance to $5.72, Nine Cents Below Current Consensus Due to Lower Markets
- “For full year 2019, we now expect organic sales to grow 1 percent, compared to our previous estimate of 3 percent, and we estimate the impact of negative currency translation to be $350 million, $50 million higher than our previous expectation. As a result, we now expect 2019 adjusted earnings per share to be between $5.67 and $5.77, down at the midpoint 9 cents from consensus, and representing a 6 percent increase over 2018, excluding the 2018 arbitration decision,” said Arnold. “Accordingly, for the fourth quarter of 2019, we anticipate adjusted earnings per share to be between $1.36 and $1.46.”
For earnings history and earnings-related data on Eaton (ETN) click here.