Eaton Reports Strong Q3 Backlog Growth Across Electrical, Aerospace Sectors, Raises FY23 Guidance
Portfolio Pulse from Akanksha Bakshi
Eaton Corporation PLC (NYSE:ETN) reported a 10.7% YoY net sales gain in Q3 FY23, reaching $5.88 billion, slightly missing the consensus of $5.89 billion. Adjusted EPS improved 22% YoY to $2.47, beating the consensus of $2.34. The company reported strong growth in the Electrical and Aerospace sectors, with backlogs up 15% and 22% respectively. Eaton raised its FY23 guidance, expecting an adjusted EPS of $8.95-$9.05 and organic revenue growth of 11-12%. ETN shares were trading higher by 4.16% at $206.13.
October 31, 2023 | 4:52 pm
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Eaton Corporation reported strong Q3 FY23 results and raised its FY23 guidance, leading to a 4.16% increase in its share price.
Eaton Corporation's strong Q3 FY23 results and raised FY23 guidance are positive news for the company, which is reflected in the increase in its share price. This indicates investor confidence in the company's performance and future outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100