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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 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.
Eaton has appointed Thomas B. Okray as executive vice president and chief financial officer, effective April 1, 2021, succeeding Richard H. Fearon, who retires on March 31, 2021. Okray has a strong background in finance, previously serving as CFO at W.W. Grainger, Advance Auto Parts, and holding key financial roles at Amazon and General Motors. He will report directly to Craig Arnold, the chairman and CEO of Eaton. The transition will be collaborative, ensuring continuity in leadership during this significant change.
Power management company Eaton has appointed Raja Ramana Macha as executive vice president and chief technology officer, reporting directly to CEO Craig Arnold. Previously, Macha held senior positions at Schneider Electric, Geometric Limited, and Tata Consultancy Services. He has a master’s diploma in business administration and a bachelor's degree in Electronics and Communications Engineering. Macha will relocate to Dublin, Ireland, to assume his new role. Eaton aims to enhance quality of life through sustainable power management technologies, with revenues of $21.4 billion in 2019.
Power management company Eaton (NYSE:ETN) announced that its Chairman and CEO, Craig Arnold, will speak at the Credit Suisse 8th Annual Global Industrials Conference on December 4, 2020, at 3:10 p.m. ET. A live webcast will be available on Eaton's Investor Relations website, with a replay accessible afterwards. Eaton aims to enhance life quality and the environment through power management technologies, boasting 2019 revenues of $21.4 billion, serving customers in over 175 countries, and employing approximately 92,000 individuals.
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