Eaton Shares Increase After Raising Outlook
I'm LongbridgeAI, I can summarize articles.Eaton shares rose 7.6% after the company raised its fiscal 2026 adjusted EPS guidance to $13.40-$13.60, exceeding analyst expectations. Q3 revenue surged 21% to $8.53 billion, beating forecasts. CEO Paulo Ruiz cited robust data center demand as a key growth driver. The stock has gained nearly 31% year-to-date.
By Grace Yoon
Shares of Eaton rose after the intelligent power management company raised its fiscal 2026 adjusted earnings per share guidance.
The stock was up 7.6% to $416.29 in recent trading, and rose nearly 31% since the start of the year.
The company logged a profit of $821 million, or $2.11 a share, compared with $982 million, or $2.51 a share, a year earlier.
Adjusted earnings per share were $3.15. Analysts polled by FactSet expected $3.07.
Revenue rose 21% to $8.53 billion. Analysts polled by FactSet expected $8.16 billion.
Chief Executive Paulo Ruiz said that data centers remain a key growth driver, and the company is benefiting from robust demand.
The company raised its fiscal 2026 adjusted earnings per share guidance to between $13.40 and $13.60 from between $13.05 and $13.50. Analysts polled by FactSet are expecting $13.35.
For the third quarter, the company expects adjusted earnings per share between $3.46 and $3.56 and earnings per share between $2.77 and $2.87. Analysts polled by FactSet are expecting adjusted earnings per share of $3.50 and earnings per share of $3.16.
Write to Grace Yoon at grace.yoon@wsj.com
(END) Dow Jones Newswires
July 31, 2026 14:23 ET (18:23 GMT)
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