Eaton: 3Q Earnings Snapshot
DUBLIN (AP) _ Eaton Corp. PLC (ETN) on Tuesday reported third-quarter profit of $446 million.
On a per-share basis, the Dublin-based company said it had net income of $1.11. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $1.18 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The power management company posted revenue of $4.53 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $4.2 billion.
Eaton shares have risen 13% since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5%. The stock has climbed 23% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETN at https://www.zacks.com/ap/ETN