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