Eaton Notches Third-Quarter Gains, Cites Class 8 Market

An Eaton transmission on display at the 2017 Mid-America Trucking Show. (Philip Scott Andrews for Transport Topics)

Eaton Corp. improved third-quarter revenue and earnings, in part, on the improved strength of the Class 8 market.

Eaton, based in Dublin, reported net income for the period ended Sept. 30 of $1.4 billion, or $3.14 per share, up from $523 million, or $1.15, in last year’s third quarter.

However, net income was $1.25 per share when excluding a gain of $1.89 per share for the formation of the Eaton Cummins Automated Transmission Technologies joint venture. Eaton received $500 million in cash for a 50% interest in the business.

Analysts expected $1.25 a share.

Net sales came in at $5.2 billion, an increase of nearly 5% from $4.9 billion a year ago.

The electric products unit saw sales of $1.9 billion, up 5% from a year ago, and profits of $346 million, a rise of nearly 5%.

“North American Class 8 truck production grew 34% in the third quarter,” Eaton Chairman Craig Arnold said. “We now expect full-year 2017 production to be 250,000 units.”

Eaton designs and manufactures transmissions, clutches, and fluid and air conveyance solutions for the commercial vehicle industry.


Follow Us


Newsletter Signup

Subscribe to Transport Topics

Hot Topics