DUBLIN (AP) — DUBLIN (AP) — Eaton Corp. PLC (ETN) on Friday reported first-quarter net income of $964 million.
On a per-share basis, the Dublin-based company said it had net income of $2.45. Earnings, adjusted for amortization costs and restructuring costs, were $2.72 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.
The power management company posted revenue of $6.38 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $6.27 billion.
For the current quarter ending in June, Eaton expects its per-share earnings to range from $2.85 to $2.95.
The company expects full-year earnings in the range of $11.80 to $12.20 per share.
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