Eaton’s 2Q Earnings Rise

Eaton Corp. said Friday its second-quarter earnings rose, due in part to its $13 billion acquisition of Ireland-based Cooper Industries last year.

Net income rose to $497 million from $382 million a year earlier, though earnings per share fell to $1.04 from $1.12, as the number of its outstanding shares increased.

Sales jumped 38% to $5.6 billion, the truck and auto components manufacturer said in a statement.

Its vehicle-segment sales operating profit rose 2% to $172 million, while sales fell 4% to $1 billion.

Chairman and CEO Alexander Cutler said Eaton expects to earn $1.05 to $1.15 in the third quarter, excluding integration charges, and that it is lowering its full-year operating earnings to $4.05 to $4.25 per share from $4.05 to $4.45.