DUBLIN (AP) — Eaton put up strong revenue numbers and upped its outlook for the year, sending shares close to an all-time before the opening bell Tuesday.
The power management company posted revenue of $5.21 billion, beating Wall Street forecasts of $5.11 billion, according to a survey by Zacks Investment Research.
For the current quarter ending in December, Eaton expects its per-share earnings to range from $1.19 to $1.29, with plenty of upside to industry analysts per-share expectations for $1.22 per share, though down a penny from the company’s last projections.
And much of the focus was on the Dublin company’s full-year earnings outlook in the range of $4.55 to $4.65 per share, a nickel better than the forecast put out in August. The company’s U.S. headquarters are in Cleveland.
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Profit was $1.4 billion, or $3.14 per share. Removing one-time gains and losses, per-share earnings were $1.25 per share, close to Wall Street projections of $1.26 per share, according to a survey by Zacks Investment Research.
Shares of Eaton Corp. PLC, up 18 percent since the beginning of the year, rose more than 2 percent before the opening bell, to $81.09. That’s close to the record $81.63 reached in July.
Parts of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ETN at https://www.zacks.com/ap/ETN