Eaton Second Quarter Income Rises

Truck and auto components maker Eaton Corp.’s second-quarter net income rose to $382 million, or $1.12 per share, from $336 million, or 97 cents, a year ago.

Sales dropped less than 1% to $4.07 billion, below estimates of $4.24 billion, Reuters reported.

Its truck segment’s sales dropped 7% to $625 million. The unit’s operating profit was $120 million, equal to last year’s. Truck production was up 3% with U.S. markets up 20% and non-U.S. markets down 9%. 

Automotive segment sales declined 8% to $422 million, with an operating profit of $48 million, down 13% from a year ago. Global auto markets rose 1%.

Hydraulics sales rose 6% to $769 million, with operating profits of $123 million, from $120 million a year ago.