Menu
Posted October 29, 2019

Eaton sales down 2 percent

Eaton Corporation reported sales in the third quarter of 2019 were $5.3 billion, down 2 percent from the third quarter of 2018.


Organic sales were down 1 percent and negative currency translation was 1½ percent, partially offset by the acquisitions of Ulusoy and Innovative Switchgear, which added ½ percent to sales.

Net income of $601 million, or $1.44 per diluted share, compared to income of $416 million, or 95 cents, in the same period last year.

Hydraulics segment sales were $603 million, down 10 percent from the third quarter of 2018. Organic sales were down 8 percent and negative currency translation was 2 percent.

Revenue declined due to weakness in the global mobile equipment market and destocking at both OEMs and distributors. Operating profits in the third quarter were $72 million, down 23 percent from the third quarter of 2018.

SPONSORED ADS