Eaton Reports Third Quarter Net Income and Operating Earnings Per Share of $3.14
Power management company
The
Sales in the third quarter of 2017 were
"Segment margins in the third quarter were a record 16.4 percent," said Arnold. "Excluding restructuring costs in the segments of
"During the quarter, we refinanced
"Operating cash flow in the third quarter, excluding the
"For full year 2017, excluding the gain on the Eaton Cummins joint venture, we are affirming the midpoint of our guidance and narrowing our guidance range by
Business Segment Results
Sales for the Electrical Products segment were
"Operating margins in the third quarter were 18.7 percent, and excluding the
Sales for the Electrical Systems and Services segment were
"Operating margins were 13.8 percent," said Arnold. "Orders in the third quarter were down 1 percent from the third quarter of 2016, with a slight increase in
Hydraulics segment sales were
"Operating margins in the quarter were 12.6 percent, and excluding restructuring costs of
Aerospace segment sales were
"Operating margins in the quarter were 19.2 percent," said Arnold. "Orders in the quarter were up 11 percent compared to the third quarter of 2016. We saw strength across all our major end markets, with the exception of military transport and military rotorcraft."
The Vehicle segment posted sales of
"Operating margins in the quarter were 17.4 percent, and excluding restructuring costs of
"North American Class 8 truck production grew 34 percent in the third quarter compared to the third quarter of 2016," said Arnold. "We now expect full year 2017 production to be 250,000 units."
Eaton is a power management company with 2016 sales of
Notice of conference call: Eaton's conference call to discuss its third quarter results is available to all interested parties as a live audio webcast today at
This news release contains forward-looking statements concerning fourth quarter and full-year 2017 operating earnings and net income per share, and expected full-year NAFTA Class 8 truck production. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside the company's control. The following factors could cause actual results to differ materially from those in the forward-looking statements: unanticipated changes in the markets for the company's business segments; unanticipated downturns in business relationships with customers or their purchases from us; competitive pressures on sales and pricing; unanticipated changes in the cost of material and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected claims, charges, litigation or dispute resolutions; strikes or other labor unrest; natural disasters; the performance of recent acquisitions; unanticipated difficulties integrating acquisitions; new laws and governmental regulations; interest rate changes; changes in tax laws or tax regulations; stock market and currency fluctuations; and unanticipated deterioration of economic and financial conditions in
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