Eaton’s Net Income Increases 4.1% in 2Q
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Power management company Eaton Corp. reported net income of $636 million in the second quarter ended June 30, up 4.1% from $611 million in the same quarter in 2018.
Earnings per share were $1.50 for the second quarter of 2019, up 8% over the second quarter of 2018.
The Dublin, Ireland-based company, which trades on the New York Stock Exchange, reported revenue of $5.53 billion, an increase of less than 1% from $5.49 billion in the same period last year.
“Organic growth came in at 2.5%, reflecting a moderation of global growth, particularly in Europe and China,” said Eaton CEO Craig Arnold in an earnings release July 30. “We had all-time record margins in three segments: electrical products, electrical systems and services, and aerospace.”
Arnold said Eaton repurchased $260 million in shares, bringing 2019’s first-half repurchases to a total of $410 million.
Eaton is a power management company with 2018 sales of $21.6 billion. Eaton has approximately 100,000 employees and sells products to customers in more than 175 countries, the company said.
