Eaton Q1 Earnings Call Highlights

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MarketBeat

Wed, May 6, 2026 astatine 6:09 AM CDT 8 min read

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Key Points

Strong 4th and raised guidance: Eaton reported grounds Q1 gross of $7.5 billion, grounds conception nett of $1.7 billion, adjusted EPS of $2.81 (beating guidance) and escaped currency travel up 245%, and raised full-year integrated maturation to a midpoint of 10% with 2026 adjusted EPS expected astir $13.05–$13.50.
Data halfway request and backlog driving growth: Data halfway orders surged ~240%, full information halfway backlog reached 228 GW (about 12 years astatine 2025 physique rates), and Eaton’s caller deals (Boyd Thermal, Ultra PCS) grow its liquid-cooling and "grid-to-chip" capabilities, with Boyd expected to lend toward a ~$1.7 cardinal run-rate.
Electrical Americas borderline dynamics: Q1 margins were temporarily deed by a price–cost lag and front‑loaded ramp costs to enactment higher growth, but absorption expects ~150 bps borderline betterment Q1→Q2 and to exit the twelvemonth northbound of 30%, portion keeping full‑year Electrical Americas conception nett dollar guidance astir unchanged.
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Eaton (NYSE:ETN) reported first-quarter 2026 results that absorption described arsenic a coagulated commencement to the year, pointing to accelerating demand, grounds backlog levels, and raised full-year integrated maturation and net guidance. Chief Executive Officer Paulo Ruiz said rolling 12-month orders accrued crossed each businesses, with orders up 42% successful Electrical Americas and 13% successful some Electrical Global and Aerospace.

Ruiz said Eaton is “winning concern astatine unprecedented rates,” with grounds backlogs successful Electrical and Aerospace and a combined rolling 12-month book-to-bill of 1.2. He highlighted information halfway orders arsenic a cardinal driver, saying they were up 240%.

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Eaton posted grounds gross of $7.5 cardinal successful the quarter, with grounds conception nett of $1.7 cardinal and conception margins of 22.7%, according to Ruiz. Chief Financial Officer Dave Foster said adjusted EPS was a first-quarter grounds of $2.81, $0.06 supra the midpoint of the company’s guidance range, and that the net outperformance was “all operational.” Foster besides said escaped currency travel roseate 245% versus the anterior year.

Following the quarter, Ruiz said Eaton raised its full-year integrated maturation outlook by 200 ground points to a midpoint of 10% and lifted the adjusted EPS midpoint anticipation to $13.28, which helium said includes the dilution from the Boyd Thermal acquisition. Eaton present expects 2026 adjusted EPS of $13.05 to $13.50.

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