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Eaton Corporation plc is a leading American-Irish multinational power management company, recognized globally for its innovative solutions in managing electrical, hydraulic, and mechanical power. Founded in 1911, and with its global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio, Eaton has consistently positioned itself at the forefront of the power management industry.
With 2022 sales amounting to $20.75 billion, Eaton operates through several primary segments: Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility. This diversified portfolio enables Eaton to cater to a wide range of end markets, including commercial vehicles, general aviation, trucks, data centers, utilities, and residential applications.
Eaton's recent achievements highlight its commitment to growth and innovation. The company has expanded its manufacturing capacity with a new state-of-the-art assembly plant in Santiago de los Caballeros, Chile, and a modern campus in Helsinki, Finland, to meet the rising demand for its products. These facilities focus on producing critical components like UPS systems and Bussmann series fuses, which are essential in data centers, renewable energy projects, industrial buildings, and electric vehicles.
In addition to facility expansions, Eaton is actively participating in the BIG LEAP project, an EU research initiative aimed at enhancing energy storage efficiency using second-life batteries from electric vehicles. This project underlines Eaton's dedication to sustainability and innovation in energy management.
Eaton also places a strong emphasis on sustainability and environmental stewardship. The company is dedicated to protecting the environment and improving the quality of life for people everywhere through its products and solutions. By capitalizing on global trends like electrification and digitalization, Eaton is accelerating the planet's transition to renewable energy sources and helping solve some of the most urgent power management challenges.
With over a century of experience, Eaton remains a trusted name, serving customers in more than 160 countries. The company reported revenues of $23.2 billion in 2023, showcasing its robust financial condition and commitment to innovation.
For more information, visit Eaton.com. Follow Eaton on LinkedIn.
Eaton has been selected by MDA Space to provide high-performance propellant storage tanks for the MDA AURORA™ satellite technology. The tanks will store and transfer fuel to satellite propulsion systems in orbit, supporting the transition from analog to digital satellite technology. This technology will be utilized in Telesat's Low Earth Orbit constellation, Telesat Lightspeed, aimed at providing global enterprise-class connectivity. The software-defined MDA AURORA™ product line offers operators enhanced flexibility and functionality while reducing costs and time to market.
Eaton announces a strategic collaboration with Treehouse to accelerate residential electrification projects in the U.S. The partnership combines Eaton's digitally enabled electrical solutions with Treehouse's AI-powered software and installation capabilities to streamline EV charging and home energy management installations. Eaton will become the preferred technology supplier for Treehouse installations, providing solutions including its AbleEdge ecosystem, Green Motion EV chargers, and smart home solutions. The collaboration aims to provide consumers with fast, accurate pricing and access to licensed electricians while helping contractors complete projects more efficiently.
Eaton (ETN) announces a strategic collaboration with Treehouse to accelerate residential electrification projects in the U.S. The partnership combines Eaton's digitally enabled electrical solutions with Treehouse's AI-powered software and installation capabilities. Eaton will become the preferred technology supplier for Treehouse installations, providing solutions including AbleEdge home energy management ecosystem and Green Motion EV chargers. The collaboration aims to streamline the installation of EV charging, energy storage, and heat pumps by offering consumers fast pricing and access to licensed electricians while ensuring code-compliant installations.
Eaton (ETN) has been awarded a $3.5M contract by the Air Force Research Lab (AFRL) to design a new podded refueling boom system called SHARK (Small Hybrid Aerial Refueling Kit). The platform-agnostic design will enable both traditional and non-traditional tanker aircraft to perform safe in-flight refueling, including autonomous systems. The contract was awarded through AFRL's Transformational Capabilities Office following Eaton's participation in the Air-to-Air Refueling Mechanism Digital Design Challenge by AFWERX.
Eaton (NYSE:ETN) has appointed Omar Zaire as president, Corporate and Electrical Sector, EMEA region, succeeding Tim Darkes who will retire effective June 1, 2025. Zaire, who brings 27 years of electrical industry experience including 16 years at Eaton, will report to Heath Monesmith, Chief Operating Officer, Electrical Sector. Currently serving as senior vice president and general manager of Power Reliability Division, Electrical Sector, Americas, Zaire has held various leadership roles globally. The company reported revenues of $23.2 billion in 2023 and serves customers in more than 160 countries.
Eaton (NYSE:ETN) reported strong Q3 2024 results with earnings per share of $2.53, up 14% year-over-year, and record adjusted earnings per share of $2.84, up 15%. Sales reached a Q3 record of $6.3 billion, up 8% from 2023. The company achieved record segment margins of 24.3% and record quarterly operating cash flow of $1.3 billion. Strong order growth was seen across segments, with Electrical Americas orders up 16% and backlog growth of 25% in Electrical and 14% in Aerospace. Based on strong performance, Eaton raised its full-year 2024 guidance, expecting adjusted earnings per share between $10.75 and $10.81, up 18% at midpoint over prior year.
Eaton has launched its new Inflation Reduction Act (IRA) Savings Calculator in collaboration with Rewiring America. This tool helps homeowners estimate federal tax rebates and incentives for electrical system upgrades. The calculator provides personalized savings estimates, detailed breakdowns of smart technology recommendations, and connects users with local Eaton Certified electricians.
The initiative supports Eaton's Home as a Grid approach, which aims to transform homes from energy users to producers through intelligent energy management technologies. With $369 billion in IRA funding available for clean energy programs, the calculator simplifies access to sustainable living practices while helping contractors better advise clients on eco-friendly upgrades.
Eaton has been selected to modernize the electrical infrastructure of Miami's Metromover mass transit system, which served over 6.5 million riders in 2023. The project, supported by Infrastructure Investment and Jobs Act funding, is part of Miami-Dade County's $153 million initiative to expand and upgrade its automated train network. Eaton will supply low-voltage air replacement circuit breakers and motor control components to modernize 21 aging electrical substations. The project, expected to complete by early 2025, aims to increase system reliability and capacity without requiring complete substation replacement.
Eaton (ETN) has been selected to modernize the electrical infrastructure of Miami's Metromover transit system, which served over 6.5 million riders in 2023. The project, supported by Infrastructure Investment and Jobs Act funding, is part of Miami-Dade County's $153 million initiative to expand and upgrade its automated train network. Eaton will supply low-voltage air replacement circuit breakers and motor control components to modernize 21 aging electrical substations. The project is expected to be completed by early 2025.
Eaton (NYSE:ETN), an intelligent power management company, has announced the election of Andre Schulten to its Board of Directors, effective October 22, 2024. Schulten, currently the chief financial officer of The Procter & Gamble Company (P&G), brings extensive experience in finance, accounting, and global business management to Eaton's board.
Schulten's career at P&G spans nearly three decades, during which he has held various leadership roles across different regions and business segments. His expertise includes product portfolio strategy, implementing new business models, and supply chain redesign. Notably, he led the systems and IT integration for P&G's global Gillette acquisition.
Eaton's Chairman and CEO, Craig Arnold, expressed confidence in Schulten's ability to contribute valuable insights to the board, citing his experience as a public company CFO and his track record in leading global enterprises.
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