Eaton’s 4Q Earnings Rise; Truck Segment Declines

Heavy-duty vehicle parts manufacturer Eaton Corp. said Tuesday its fourth-quarter net earnings rose 8%, and the company boosted its dividend too.

Eaton’s net income rose to $256 million or $1.71 a share, from $241 million, or $1.59 a year earlier, the company said in a statement.

Revenue rose 10% to $3.4 billion, but truck segment revenue fell 14%, the company said.

For the full year, Eaton posted a profit of $994 million or $6.62 a share, up from $950 million or $6.22 per share last year.

Full-year revenue rose 7% to $13.05 billion.

Fourth-quarter earnings topped the company’s projection of $1.60 to $1.70 per share, while full-year earnings topped the $6.50 to $6.60 forecast.