Eaton Issues Q4 Outlook, Backs FY22 Adj. Earnings View - Update

(RTTNews) - While reporting weak earnings and higher sales in its third quarter, Intelligent power management company Eaton Corp. (ETN) issued fourth-quarter outlook, and reaffirmed fiscal 2022 adjusted earnings view.

For the fourth quarter of 2022, the company anticipates earnings per share between $1.66 and $1.76 per share, and adjusted earnings per share between $2.00 and $2.10, with organic growth of 13-15 percent.

On average, 17 analysts polled by Thomson Reuters expect earnings of $2.05 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2022, the company continues to expect earnings per share between $6.00 and $6.10 per share and adjusted earnings per share guidance midpoint of $7.56.

The company tightened its adjusted earnings per share outlook to between $7.51 and $7.61.

The company previously expected adjusted earnings per share between $7.36 and $7.76.

Analysts estimate earnings of $7.55 per share for the year.