Posted November 3, 2020

Eaton 3Q sales fall 14.8 percent

Eaton Corporation reported sales in the third quarter of 2020 were $4.5 billion, a 14.8 percent decline from $5.3 billion in last year's third quarter.

Organic sales were down 9 percent, and the divestitures of the Lighting and Automotive Fluid Conveyance businesses reduced sales by 8 percent, partially offset by 2 percent growth from acquisitions.

Net income of $446 million, or $1.11 per share, declined from $601 million, or $1.44, in the same period last year.

Sales for the Electrical Americas segment were $1.7 billion, down 17 percent from the third
quarter of 2019, driven by a 20 percent reduction from the divestiture of the Lighting

Hydraulics segment sales were $439 million, down 15 percent from the third quarter of 2019,
driven entirely by a decline in organic sales.