Eaton Raises FY24 Outlook: Adj. EPS $10.20-$10.60 ( Up From $9.95-$10.35 Prior) Vs. $10.25 Estimate; GAAP EPS $8.95-$9.35 ( Up From $8.69-$9.09 Prior) Vs. $9.25 Estimate
Portfolio Pulse from Benzinga Newsdesk
Eaton Corporation (ETN) has raised its FY24 earnings outlook, with adjusted EPS now expected to be between $10.20 and $10.60, up from the previous forecast of $9.95 to $10.35. This new range surpasses the analyst estimate of $10.25. The GAAP EPS forecast has also been increased to $8.95-$9.35 from $8.69-$9.09, against a $9.25 estimate. The adjustments account for acquisition and divestiture charges, restructuring program charges, and intangible asset amortization expense.
April 30, 2024 | 10:35 am
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Eaton Corporation has raised its FY24 earnings outlook, indicating a stronger financial performance than previously anticipated.
Eaton's upward revision of its FY24 earnings outlook, especially exceeding analyst estimates, is a strong positive signal to the market. This adjustment reflects better-than-expected financial health and operational efficiency, likely leading to increased investor confidence and potential stock price appreciation in the short term.
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