Eaton Corporation plc (ETN) Q2 2024: Etn

Executive Summary

Eaton Corporation plc delivered outstanding financial performance in Q2 2024, with total revenue reaching $6.4 billion, an increase of 8% YOY and a 6.85% increase over the previous quarter. The company reported an adjusted EPS of $2.73, an all-time high reflecting a 24% increase compared to the prior year. Strength across electrical and aerospace markets, along with robust order backlogs, supported a raised full-year guidance for organic growth and operating margins. CEO Craig Arnold noted that the combination of strong market demands and effective execution positions Eaton well for the second half of the year and beyond.

Key Performance Indicators

Revenue

6.35B

QoQ: 6.85% | YoY:8.25%

Gross Profit

2.41B

37.94% margin

QoQ: 8.61% | YoY:13.69%

Operating Income

1.22B

QoQ: 21.70% | YoY:35.67%

Net Income

993.00M

QoQ: 20.95% | YoY:33.47%

EPS

2.49

QoQ: 21.46% | YoY:33.16%

Revenue Trend

Margin Analysis

Key Insights

Revenue: $6.4 billion (up 8% YoY, 6.85% QoQ)
Gross Profit: $2.41 billion (Gross Margin: 37.4%)
Operating Income: $1.22 billion (Operating Margin: 19.1%)
Net Income: $993 million (Net Margin: 15.6%)
Adjusted EPS: $2.73 (up 24% YoY)

Financial Highlights

- Revenue: $6.4 billion (up 8% YoY, 6.85% QoQ)
- Gross Profit: $2.41 billion (Gross Margin: 37.4%)
- Operating Income: $1.22 billion (Operating Margin: 19.1%)
- Net Income: $993 million (Net Margin: 15.6%)
- Adjusted EPS: $2.73 (up 24% YoY)
- Electrical Americas segment grew by 13% organically, boasting a record operating margin of 29.9%.
- Aerospace segment reported 13% organic growth with a 21.5% operating margin, despite a year-on-year decline of 100 basis points due to operational inefficiencies.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	6.35B	8.25%	6.85%
Gross Profit	2.41B	13.69%	8.61%
Operating Income	1.22B	35.67%	21.70%
Net Income	993.00M	33.47%	20.95%
EPS	2.49	33.16%	21.46%

Key Financial Ratios

currentRatio

1.56

grossProfitMargin

37.9%

operatingProfitMargin

19.2%

netProfitMargin

15.6%

returnOnAssets

2.52%

returnOnEquity

5.17%

debtEquityRatio

0.55

operatingCashFlowPerShare

$2.37

freeCashFlowPerShare

$1.9

dividendPayoutRatio

39.1%

priceToBookRatio

6.49

priceEarningsRatio

31.39

Net Income vs. Revenue

Expense Breakdown

Competitive Position

Company	Gross Margin	Operating Margin	Return on Equity	P/E Ratio
ETN Focus	37.94%	19.20%	5.17%	31.39%
ITW	43.20%	26.20%	25.60%	22.88%
DOV	37.70%	17.00%	5.25%	21.58%
CMI	24.60%	10.80%	7.60%	12.86%
PH	35.70%	18.00%	6.03%	21.69%

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	6,377.00	2.45	+7.3%	View
Q4 2024	6,240.00	2.45	+4.6%	View
Q3 2024	6,345.00	2.53	+7.9%	View
Q2 2024	6,350.00	2.48	+8.3%	View
Q1 2024	5,943.00	2.04	+8.4%	View

Eaton Corporation plc (ETN) Q2 2024 Earnings Report

Earnings Highlights

Eaton Corporation plc (ETN) Q2 2024 Financial Results: Record Growth and Strong Outlook

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

Eaton Corporation plc (ETN) Q2 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

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