Eaton misses quarterly revenue estimates, shares fall

Eaton

04/11/2025 11:56

Nov 4 (Reuters) - Power management company Eaton Corp ETN.N missed Wall Street estimates for third-quarter revenue on Tuesday, weighed down by poor performance in its vehicle and e-mobility segments, sending its shares down nearly 5% in premarket trading.

Eaton's vehicle segment, which makes transmission components, clutches and engine valves, posted a sales decline of 8% at $639 million in the reported quarter.

Quarterly sales in its e-mobility segment, which makes high voltage inverters and fuses for both on-road and off-road vehicles, fell 19% to $136 million.

Together, the two segments comprised about 14% of Eaton's 2024 total sales.

Meanwhile, sales in the company's electrical Americas segment, which provides electrical and industrial components to the data center industry, rose 15%.

On Monday, Eaton said it would buy Boyd Thermal for $9.5 billion from Goldman Sachs' asset management arm, its third deal in the data center space this year as it looks to expand its footprint in the fast-growing market.

Dublin-based Eaton reported quarterly revenue a little under $7 billion for the quarter ended September 30, while analysts, on average, were expecting revenue of $7.08 billion, according to data compiled by LSEG.

   It reported adjusted profit per share of $3.07, compared to Wall Street expectations of $3.05 apiece.

 (Reporting by Aishwarya Jain in Bengaluru; Editing by Shailesh Kuber)

 ((Aishwarya.Jain@thomsonreuters.com))