Eaton Corporation, plc Ordinary Shares - ETN STOCK NEWS

Power management company Eaton (NYSE:ETN) has appointed Daniel Hopgood as senior vice president and controller, effective April 1. He succeeds Ken D. Semelsberger, who will retire on March 31. Hopgood has been with Eaton since 2012, serving in various finance roles, including senior vice president, Global Financial Services and Systems. This transition aims to ensure continuity within the leadership team. Eaton reported revenues of $17.9 billion in 2020 and operates in more than 175 countries with approximately 92,000 employees.

Eaton (NYSE:ETN) announced its annual investor conference scheduled for March 1, from 9 a.m. to 11:40 a.m. Eastern time. The conference aims to discuss the company’s business prospects with securities analysts and institutional investors. Investors can access the meeting via a live webcast on Eaton’s homepage, with a replay available later. In 2020, Eaton reported revenues of $17.9 billion and operates in over 175 countries with around 92,000 employees.

Eaton Corporation reported Q4 2020 earnings per share of $1.18. Adjusted EPS reached $1.28, excluding specific charges. Total sales for the quarter were $4.7 billion, with organic sales declining by 5%. Despite this, segment margins improved to 17.4%. For the full year, sales totaled $17.9 billion, down 11% organically. The company anticipates organic revenue growth between 4% and 6% for 2021, with adjusted EPS expectations for 2021 between $5.40 and $5.80.

Eaton announced its agreement to acquire Cobham Mission Systems for $2.83 billion, which includes $130 million in tax benefits. The adjusted purchase price reflects approximately 14 times CMS’s 2020 EBITDA and 13 times its estimated 2021 EBITDA. This acquisition aims to enhance Eaton’s fuel systems business and support future growth in its Aerospace segment. The transaction is expected to close in the second half of 2021, pending customary closing conditions.

Eaton has announced the acquisition of Tripp Lite for $1.65 billion, enhancing its power quality and connectivity solutions portfolio. This strategic acquisition, valued at approximately 12 times Tripp Lite’s 2020 EBITDA, aims to expand Eaton's edge computing and single-phase UPS business. Tripp Lite, a company with nearly 100 years in the market, offers essential products for various sectors including data centers and medical markets. The deal is anticipated to close by mid-2021, pending customary conditions.

Eaton (NYSE:ETN) will release its fourth quarter 2020 earnings on February 2, 2021, prior to the NYSE opening. A conference call is scheduled for 11 a.m. Eastern Time on the same day, aimed at discussing the earnings results with analysts and investors. Access the live webcast on Eaton's website. In 2019, Eaton reported revenues of $21.4 billion, serving customers in over 175 countries and employing approximately 92,000 individuals. For further details, visit www.eaton.com.

Eaton (NYSE:ETN) has appointed Katrina R. Redmond as senior vice president and chief information officer (CIO), effective January 4, 2021. She succeeds Bill Blausey, who will retire on February 28, 2021. Redmond, previously with Hubbell, brings extensive experience from roles at ABB/GE Industrial Solutions and GE. In her new role, she will lead Eaton's global information technology strategy. Eaton reported revenues of $21.4 billion in 2019 and operates in over 175 countries with around 92,000 employees.

Power management company Eaton (NYSE:ETN) has agreed to acquire a 50% stake in HuanYu High Tech, a manufacturer of low-voltage circuit breakers and contactors in China, for an undisclosed value. HuanYu High Tech reported sales of $106 million in 2019 and operates in Wenzhou, China. The strategic partnership aims to leverage HuanYu's product portfolio and manufacturing capabilities alongside Eaton's global scale, enhancing their presence in the Southeast Asian market. The transaction is pending regulatory approvals and is expected to close in Q2 2021.