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Eaton Corp PLC - Stock Quote ETN

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Morningstar's Eaton Corp PLC Stock Analysis

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Eaton’s Solid First-Quarter Performance Doesn’t Materially Alter Our Long-Term View

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

Narrow moat rated Eaton turned in a solid first-quarter performance, but nothing in its latest results materially alters our long-term view of the firm. We made some modest adjustments to our near-term forecast, but the benefits of additional sales were mostly offset by slightly higher restructuring in operating margins than we were previously modeling. That said, we left our midcycle, non-GAAP segment operating margins intact. In summation, we raise our fair value estimate to $154 per share from $150 previously, but most of the raise was due to time value of money.

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Eaton Corp PLC's Company Profile

Business Description

Eaton is a diversified power management company operating for over 100 years. The company operates through various segments, including electrical products, electrical systems and services, aerospace, vehicle, and most recently eMobility. Eaton’s portfolio can broadly be divided into two halves. One part of its portfolio is housed under its industrial sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, and trucks. The other portion is Eaton’s electrical sector portfolio, which serves data centers, utilities, and the residential end market, among others. While the company receives favorable tax treatment as a domiciliary of Ireland, most of its operations take place in the U.S.

30 Pembroke Road, Eaton House
Dublin 4, D04 Y0C2, Ireland
T +353 16372900
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 85,947

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