Eaton Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Eaton Corp. (ETN) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $638 million, or $1.60 per share. This compares with $532 million, or $1.33 per share, in last year's first quarter.

Excluding items, Eaton Corp. reported adjusted earnings of $753 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.2% to $5.48 billion from $4.84 billion last year.

Eaton Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $638 Mln. vs. $532 Mln. last year. -EPS (Q1): $1.60 vs. $1.33 last year. -Analyst Estimate: $1.78 -Revenue (Q1): $5.48 Bln vs. $4.84 Bln last year.

-Guidance: Full year EPS guidance: $8.30 - $8.50