Eaton Boosts FY24 Outlook - Update

(RTTNews) - While reporting its financial results for the first quarter on Tuesday, power management company Eaton Corp plc (ETN) provided financial guidance for the second quarter and raised outlook for the full-year 2024.

For the second quarter, the company expects earnings in a range of $2.19 and $2.29 per share and adjusted earnings in a range of $2.52 and $2.62 per share on organic sales growth of 6.5 to 8.5 percent.

On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $2.50 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $8.95 and $9.35 per share and adjusted earnings in a range $10.20 to $10.60 per share on organic sales growth of 7 to 9 percent. The Street is looking for earnings of $10.25 per share for the year.

Previously, the company expected adjusted earnings in the range $9.95 to $10.35 per share on organic sales growth of 6.5 to 8.5 percent.

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