Eaton Shares Increase After Raising Outlook

Dow Jones08-01 02:08

Shares of Eaton rose after the intelligent power management company raised its fiscal 2026 adjusted earnings per share guidance.

The stock was up 7.6% to $416.29 in recent trading, and rose nearly 31% since the start of the year.

The company logged a profit of $821 million, or $2.11 a share, compared with $982 million, or $2.51 a share, a year earlier.

Adjusted earnings per share were $3.15. Analysts polled by FactSet expected $3.07.

Revenue rose 21% to $8.53 billion. Analysts polled by FactSet expected $8.16 billion.

Chief Executive Paulo Ruiz said that data centers remain a key growth driver, and the company is benefiting from robust demand.

The company raised its fiscal 2026 adjusted earnings per share guidance to between $13.40 and $13.60 from between $13.05 and $13.50. Analysts polled by FactSet are expecting $13.35.

For the third quarter, the company expects adjusted earnings per share between $3.46 and $3.56 and earnings per share between $2.77 and $2.87. Analysts polled by FactSet are expecting adjusted earnings per share of $3.50 and earnings per share of $3.16.

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