Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
4/29/2014 11:30:00 AM Write a Letter to the Editor Write a letter to the Editor

Eaton’s First-Quarter Incomes Improves


Eaton Corp./YouTube

Vehicle component maker Eaton Corp. said its first-quarter net income rose to $441 million, or 92 cents a share, from $380 million, or 79 cents, a year earlier.

Net sales climbed to $5.49 billion in the quarter from $5.31 billion a year ago, Eaton said in an April 29 statement.

Operating income, which excludes $66 million in costs related to acquisitions, was $483 million, a 21% increase, the company said.

Sales in the vehicle segment increased 6% to $996 million, and operating profit in the first quarter was $151 million, up 14% over the first quarter of 2013.

“North American markets were particularly strong in the quarter,” Eaton Chairman and CEO Alexander Cutler said in a statement. “We now expect the Nafta Class 8 truck market to be 280,000 in 2014, up from our prior estimate of 265,000.”

Cutler said the company is maintaining its 2014 guidance of $4.50 to $4.90 earnings per share.

The company said it expects its integration with electrical-equipment supplier Cooper Industries to generate $95 million in operating earnings in 2014 and $150 million in operating earnings in 2015.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2014, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement