Posted January 31, 2019

Eaton sales rise by 5 percent

Eaton Corporation posted sales in the fourth quarter of 2018 of $5.5 billion, up 5 percent over the same period in 2017.

The sales increase consisted of 7 percent growth in organic sales, partially offset by 2 percent negative currency translation.

Net income of $631 million, or $1.46 per diluted share, compared to $634 million, or $1.44, in the same period last year.

“We had a very strong fourth quarter, with better-than-expected organic revenue growth and margins. Organic growth came in at 7 percent, 1 percent higher than our guidance," said Craig Arnold, Eaton chairman and chief executive officer.

Hydraulics segment sales were $653 million, up 6 percent over the fourth quarter of 2017. Organic sales were up 8 percent, partially offset by 2 percent from negative currency translation.

For full year 2018, sales were $21.6 billion, 6 percent higher than 2017.

“Looking at 2019, we expect our organic revenues to grow between 4 and 5 percent, partially offset by approximately 1 percent from negative currency translation,” said Arnold.