Eaton (ETN) Tops Q1 EPS by 2c, Withdraws Guidance

Eaton (NYSE: ETN) reported Q1 EPS of $1.09, $0.02 better than the analyst estimate of $1.07. Revenue for the quarter came in at $4.8 billion versus the consensus estimate of $4.83 billion.

• “While most of our plants are still operating and our businesses are deemed essential by almost all governments around the world, the reduction in global growth and economic uncertainty will have a significant impact on our outlook for Q2 and the rest of the year,” said Arnold. “As a result, we are withdrawing our full year 2020 adjusted earnings per share guidance. We do, however, have much more visibility into our cash flow for the year. We now expect full year free cash flow for 2020 to be between $2.3 billion and $2.7 billion, down modestly from our February guidance.”

For earnings history and earnings-related data on Eaton (ETN) click here.

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