Eaton Q1 Report 2024

 Intelligent power management company Eaton Corporation plc announced that earnings per share were $2.04 for the first quarter of 2024, a first quarter record and up 28% over the first quarter of 2023. Excluding charges of $0.21 per share related to intangible amortization, $0.12 per share related to a multi-year restructuring program, and $0.03 per share related to acquisitions and divestitures, adjusted earnings per share of $2.40 were also a first quarter record and up 28% over the first quarter of 2023.

Highlights

• First quarter earnings per share of $2.04 and adjusted earnings per share of $2.40, both up 28% over 2023 and first quarter records
• First quarter record segment margins of 23.1%, 340 basis points above the first quarter of 2023
• 8% organic sales growth, at the high end of guidance, and strong backlog growth of 27% in Electrical and 11% in Aerospace
• Raised full year 2024 organic sales, segment margin, earnings per share and adjusted earnings per share guidance