Eaton Corp. Q3 Profit Increases, beats estimates

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

The company's earnings came in at $891 million, or $2.23 per share. This compares with $607 million, or $1.52 per share, in last year's third quarter.

Excluding items, Eaton Corp. reported adjusted earnings of $994 million or $2.47 per share for the period.

Analysts on average had expected the company to earn $2.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.7% to $5.88 billion from $5.31 billion last year.

Eaton Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $891 Mln. vs. $607 Mln. last year. -EPS (Q3): $2.23 vs. $1.52 last year. -Analyst Estimate: $2.34 -Revenue (Q3): $5.88 Bln vs. $5.31 Bln last year.

-Guidance: Next quarter EPS guidance: $2.39 - $2.49 Full year EPS guidance: $8.95 - $9.05