Eaton’s First-Quarter Profit Rises 40%
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The company said it was benefiting from increased sales of truck transmissions and hydraulic parts for construction machinery.
ehicle parts maker Eaton Corp. said Thursday its first-quarter profit rose 40%, helped by acquisitions and sales of parts for heavy-duty trucks.
The company said it earned $187 million or $1.19 a share, up from $134 million or 85 cents in last year’s first quarter.
Sales rose 19% to $2.65 billion, Eaton said. It projected 5% growth in its markets this year.
Eaton said it anticipates a second-quarter profit of $1.20 to $1.30 a share.
