Posted July 31, 2018

Eaton reports 7 percent sales gain

Eaton Corporation reported sales in the second quarter of 2018 were $5.5 billion, up 7 percent over the same period in 2017.

The sales increase consisted of 7 percent growth in organic sales and 1 percent increase from positive currency translation, partially offset by a negative 1 percent from the divestiture in 2017 of Eaton's share in a small electrical joint venture and also the formation of the Eaton Cummins joint venture.

Net income was $610 million, up 18 percent over $516 million in the second quarter of 2017. Earnings per share of $1.39 compared to $1.15 in last year's second quarter.

Hydraulics segment sales were $723 million, up 14 percent over the second quarter of 2017. Organic sales were up 13 percent and currency translation was positive 1 percent.