Eaton sales decline 4 percent
Eaton Corporation reported sales in the fourth quarter of 2019 were $5.2 billion, down 4 percent from $5.4 billion in the fourth quarter of 2018.
Organic sales were down 4 percent. Acquisitions added ½ percent to sales, which was offset by negative currency translation of ½ percent.
Net income of $452 million, or $1.09 per diluted share, was down from income of $631 million, or $1.46, in the fourth quarter of 2018.
Hydraulics segment sales were $565 million, down 13 percent from 2018 driven entirely by a decline in organic sales. Revenue declined due to continued weakness in the global mobile equipment market and destocking at both OEMs and distributors.
In January 2020, Eaton announced the sale of its Hydraulics business, which is expected to close by the end of the year.
For full year 2019, sales were $21.4 billion, down 1 percent from $21.6 billion in 2018 with flat organic sales and negative currency translation of 1 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
