Eaton raised full-year adjusted EPS guidance above consensus after surpassing Q2 earnings and revenue expectations.
Eaton (ETN) shares surged 7.3% after reporting Q2 adjusted earnings and revenue that exceeded Wall Street estimates. The company also lifted its full-year adjusted EPS guidance to a range above analyst expectations.
Net profit for the quarter fell to $821M, or $2.11 per share, from $982M, or $2.51 per share, in the same period last year. Revenue figures were not fully detailed but contributed to the positive market reaction.
The beat-and-raise results drove investor confidence, reflecting stronger-than-anticipated performance in the quarter.