Eaton Corporation Reports Q1 Beat, Provides 2022 Outlook
<p><a href='https://financialmodelingprep.com/financial-summary/ETN'>Eaton Corporation plc (NYSE:ETN) </a>reported its Q1 results, with EPS of $1.62 coming in better than the Street estimate of $1.60. Revenue was $4.8 billion, slightly above the Street estimate of $4.79 billion.</p>
<p>Demand during the quarter remained strong, as evidenced by Electrical and Aerospace orders that were up 30% and 35%, respectively. Backlog also continues to build giving near-term earnings visibility, and management noted that distributor channel inventory remains low. </p>
<p>The supply chain and the inflationary environment remain challenging, but the company seems confident that it can continue to offset inflation with price increases.</p>
<p>The company provided its full 2022-year outlook, expecting EPS to range from $7.32 to $7.72, compared to the consensus estimate of $7.48. For the full 2022-year, the company is increasing its organic growth guidance from 7-9% to 9-11% and raising adjusted EPS to $7.32-7.72. </p>

NYSE:ETN