23 jul: 2nd UPDATE: Philips Profit Beats Forecasts on US, Emerging Market..
23 jul: US GAS: Futures Drop Toward $3; Further Heat Ahead
23-07-2012 16:07:00

UPDATE:Eaton 2nd-Quarter Net Up 14%;Revenue Down on Overseas Markets

Relateret indhold

--Eaton beats second-quarter earnings estimate

--Eaton scales back 2012 revenue, earnings forecasts

--Company says emerging market growth slowing

(Updates with more details throughout about end-markets and 2012 outlook.)

By Bob Tita

Eaton Corp.'s (ETN) second-quarter profit rose 14%, but revenue unexpectedly dropped as weakening demand from overseas markets caused the company to scale back its revenue and earnings forecasts for 2012.

The diversified manufacturer's second-quarter profit topped analysts' expectations. Improved margins and a lower tax rate offset revenue that dropped from a year earlier.

"Our revenues were impacted in the second quarter by lower-than-expected end-market growth and by lower-than-expected foreign exchange rates," said Chairman and Chief Executive Alexander Cutler in a written statement.

Mr. Cutler attributed the lower revenue to slower economic growth in China, India and Brazil, as well as uncertainty in Europe caused by the ongoing crisis over sovereign debt.

The Cleveland company now expects end-market sales this year to increase 3% to 4% over 2011, down from the 5% growth predicted in April.

The company also revised its full-year profit guidance, calling for earnings of $4.20 to $4.50 a share. Eaton in April said it expected per-share profit of $4.30 to $4.70. As a result, the midpoint of Eaton's profit range dropped to $4.35 a share from $4.50.

Eaton, which makes electrical products, truck transmissions, hydraulic systems and aerospace components, has reported a series of double-digit earnings increases over the past two years, aided by increased production volumes in construction and farm machinery and a rebound in the commercial-truck industry. Eaton's lowered expectations are likely to trigger investor anxiety about the performance of other diversified manufacturers, as well as truck makers and machinery manufacturers, such as Caterpillar Inc. (CAT) and Deere & Co. (DE).

Eaton's stock has fallen almost 18% in the past three months amid concerns about the outlook for manufacturing. The shares recently were up 3.l% at $40.27. Eaton in May agreed to acquire electrical products company Cooper Industries PLC (CBE) in a roughly $11.8 billion cash-and-stock deal. The deal will require approval from the two companies' shareholders.

For the quarter ended June 30, Eaton reported a profit of $382 million, or $1.12 a share, compared with a year-earlier profit of $336 million, or 97 cents a share. Stripping out acquisition- and integration-related costs, earnings rose to a record $1.15 a share from 97 cents a year earlier. Analysts polled by Thomson Reuters expected the company to earn $1.09 a share

Revenue edged down 0.5% to $4.1 billion, short of the $4.24 billion expected by analysts.

-Chelsea Stevenson contributed to this article.

Write to Bob Tita at robert.tita@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 23, 2012 10:07 ET (14:07 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Vestas/Barclays: Flere spørgsmål end svar efter Q2

21-08-2014 11:24:24
14 gange afviste Vestas-ledelsen at besvare spørgsmål fra analytikere på onsdagens telekonference, og det får analytikerne i Barclays til at gentage sine forbeh..

Aktier/tendens: Travl regnskabsdag ventes at præge markedet

21-08-2014 08:25:33
Der er lagt op til endnu en travl dag på det danske aktiemarked torsdag.En sværm af regnskaber fra blandt andet ISS, Matas og IC Companys vil præge handlen, men..

Rockwool/Sydbank: Ekstra investeringer går til ekstra kapacitet

20-08-2014 16:27:59
Rockwools regnskab for andet kvartal var uden den store dramatik, og stenuldsproducenten fastholder da også sine finansielle forventninger til hele 2014.Dog øge..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas/Barclays: Flere spørgsmål end svar efter Q2
2
Aktier/tendens: Travl regnskabsdag ventes at præge markedet
3
Vestjysk Bank Q2: Regnskabstal vidner om markant vending
4
Europa/aktier: Heineken i største kurshop i fem år
5
Onsdagens aktier: Russiske kvaler ramte Carlsbergs aktie

Relaterede aktiekurser

Caterpillar Inc 107,70 0,0% Aktiekurs uændret
Deere & Company 85,87 0,0% Aktiekurs uændret
Eaton Corporation PLC Or.. 70,40 0,0% Aktiekurs uændret
Caterpillar 97,45 0,0% Aktiekurs uændret
Caterpillar Inc 80,00 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
21. august 2014 14:05:07
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20140819.1 - EUROWEB5 - 2014-08-21 14:05:07 - 2014-08-21 14:05:07 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x