Earnings Summary: Highlights of Eaton’s Q2 2024 financial results

Energy administration firm Eaton Corp. (NYSE: ETN) reported a rise in gross sales and internet revenue for the second quarter of 2024.

• The corporate reported report second-quarter earnings per share of $2.48, which is up 33% from the prior-year quarter
• Second-quarter adjusted earnings per share elevated 24% year-over-year to $2.73
• Gross sales through the quarter had been $6.4 billion, up 8% from the second quarter of 2023
• Phase margins superior by 210 foundation factors to an all-time excessive of 23.7% through the three months
• Natural gross sales grew 9% through the three months; backlog elevated 27% in Electrical and rose14% in Aerospace
• Working money movement was $946 million and free money movement was $759 million in Q2, up 11% and 10% respectively
• For the complete 12 months 2024, the corporate expects natural development to be within the vary of 8% to 9%
• Adjusted earnings per share is anticipated to be between $10.65 and $10.75 in FY24, up 17% on the midpoint over the prior 12 months