Posted May 2, 2017

Eaton sales up 1 percent

Eaton Corporation plc announced that sales in the first quarter of 2017 were $4.8 billion, up 1 percent over the same period in 2016.

The sales increase consisted of 2 percent from growth in organic sales partially offset by a 1 percent decline from negative currency translation.

Net income of $432 million, or 96 cents per share, compared to net income of $403 million, or 88 cents, in the first quarter of 2016.

Hydraulics segment sales were $587 million, up 7 percent over the first quarter of 2016. Organic sales were up 9 percent partially offset by negative currency translation of 2 percent. Operating profits in the first quarter were $60 million, an increase of 46 percent over the first quarter of 2016, with the increase driven by higher organic revenues and lower restructuring costs.