Eaton Posts Record 3Q Earnings Per Share

Truck and auto components maker Eaton Corp. said Monday it posted record third-quarter earnings per share, up 37% from last year.

Eaton’s net income rose to $365 million, or $1.07 per share, up from $268 million, or 78 cents, a year ago. Sales rose 15% to $4.12 billion.

“We anticipate net income per share for the fourth quarter of 2011 to be between $1.04 and $1.14,” Eaton CEO Alexander Cutler said in a statement.

Eaton’s truck segment reported an operating profit of $139 million, as sales rose 34% to a quarterly record $715 million.

Truck production rose 25%, with U.S. markets up 51% and non-U.S. markets up 7% in the quarter, the company said in a statement.

“We now expect the [North American Free Trade Agreement] Class 8 market to total 255,000 units, a small reduction from our forecast in July,” Cutler said in a statement. “Outside NAFTA, we are seeing a continuation of modest growth.”