Eaton Corporation, plc Ordinary Shares - ETN STOCK NEWS

Eaton has unveiled the AbleEdge home energy management system, a comprehensive solution designed to simplify residential solar and energy storage installations. This system transforms existing and new Eaton loadcenters and meter breakers into modular smart panels, potentially avoiding costly main panel upgrades. Key features include:

1. Interoperability with leading energy storage and solar providers
2. Next-generation smart breakers for load management
3. Microgrid interconnect device for seamless power transitions
4. Flexible configurations for retrofit and new construction projects

The AbleEdge system aims to support the growing residential energy storage market, expected to install 10 gigawatts of storage in the U.S. between 2024 and 2028. Eaton will showcase this innovative system at RE+ 24 in Anaheim, California, from September 10-12.

Eaton, an intelligent power management company, has expanded its Montreal Innovation Center in Brossard, Quebec, less than a year after its opening. The expansion includes 9,000 square feet of additional space and 50 new specialized jobs, bringing the total to approximately 200 jobs. Eaton is also building a new Experience Center for hands-on training in digital technologies accelerating the energy transition.

The Innovation Center focuses on research and development of distributed energy resources (DER) technologies. Eaton is collaborating with customers like Hydro-Québec to develop solutions such as a next-generation microgrid system. Since 2020, Eaton has invested $1.3 billion in R&D for sustainable solutions and aims to reach $3 billion by 2030. The company reported revenues of $23.2 billion in 2023.

Eaton, an intelligent power management company, has secured a contract to assist Dallas Fort Worth International Airport (DFW) in constructing its innovative electric Central Utility Plant (eCUP). This project, valued at nearly $10 million, aims to help DFW achieve its net zero carbon emissions goal by 2030. The eCUP will be primarily fueled by 100% renewable electricity purchased by the airport.

Eaton's contribution includes vital power distribution equipment, engineering services, and support to meet federal funding requirements. The project is partially funded by the Bipartisan Infrastructure Investment and Jobs Act (IIJA). Installation is expected in spring 2025. This initiative showcases Eaton's commitment to helping customers reduce emissions while improving reliability and return on investment.

Eaton (NYSE:ETN), an intelligent power management company, has announced key leadership changes. Paulo Ruiz will become president and COO effective September 2, 2024, and succeed Craig Arnold as CEO on June 1, 2025. Arnold will retire on May 31, 2025, after reaching Eaton's mandatory officer retirement age of 65. Gregory R. Page will become the non-executive chair of the Board of Directors on June 1, 2025.

Ruiz, 49, currently serves as president and COO of Eaton's Industrial Sector. He has extensive experience in strategic positions at Eaton and previously at Siemens. The transition aims to accelerate Eaton's transformation into the world's leading power management company. Eaton reported revenues of $23.2 billion in 2023 and serves customers in over 160 countries.

Eaton plc (NYSE:ETN) reported record second quarter 2024 results, with earnings per share of $2.48, up 33% year-over-year. Adjusted earnings per share reached $2.73, a 24% increase. The company achieved record quarterly sales of $6.4 billion, up 8% from Q2 2023, with organic sales growth of 9%. Segment margins hit a record 23.7%, improving by 210 basis points.

Eaton saw strong demand across markets, driven by electrification, energy transition, and reindustrialization. The company raised its full-year 2024 guidance, including organic growth to 8-9%, segment margins to 23.3-23.7%, and adjusted earnings per share to $10.65-$10.75. Backlog growth was robust, with Electrical up 27% and Aerospace up 14%.

Eaton (NYSE:ETN), an intelligent power management company, has elected Karenann Terrell to its Board of Directors, effective July 24, 2024. Terrell, the retired chief digital and technology officer of GSK plc, brings extensive digital expertise and global perspective to Eaton's board. Her appointment aligns with Eaton's commitment to inclusive representation, with 80% of directors now being women or U.S. minorities.

Terrell's background includes roles as CIO at Walmart and Baxter International, as well as positions at DaimlerChrysler AG and General Motors. She currently serves on the boards of UiPath, Fractal Analytics, and Switch. Eaton, founded in 1911, reported revenues of $23.2 billion in 2023 and operates in over 160 countries, focusing on power management solutions across various markets.

Eaton (NYSE:ETN), an intelligent power management company, has declared a quarterly dividend of $0.94 per ordinary share, payable on August 23, 2024, to shareholders of record as of August 5, 2024. This continues Eaton's tradition of paying dividends every year since 1923. The company, founded in 1911, focuses on protecting the environment and improving quality of life through products for various markets including data centers, utilities, and aerospace. Eaton is committed to sustainable business practices and reported revenues of $23.2 billion in 2023. The company serves customers in over 160 countries and is dedicated to accelerating the transition to renewable energy sources and addressing global power management challenges.

Eaton (NYSE: ETN), an intelligent power management company, has been recognized as a Best Place to Work for Disability Inclusion in three countries. The company scored 100 out of 100 on the Disability Equality Index® (DEI) in the United States for the fourth consecutive year, and achieved perfect scores in India and 90 out of 100 in Brazil for the first time.

This recognition reflects Eaton's commitment to inclusive strategies and programming for people with disabilities. The DEI, launched in 2015 by Disability:IN and The American Association of People with Disabilities, measures inclusive workplace policies. Companies scoring 80 or higher are recognized as Best Places to Work for Disability Inclusion.

Eaton has also received other honors for its inclusion and diversity efforts, including a perfect score on the Human Rights Campaign Foundation's Corporate Equality Index and being named one of America's Greatest Workplaces for Diversity.

Eaton (NYSE:ETN), an intelligent power management company, has appointed Tiffany Hanisch as senior vice president, Internal Audit, effective July 22, 2024. Hanisch, who joins from GE Aerospace, will report to Olivier Leonetti, Eaton's executive vice president and CFO, and join the senior leadership team. She brings over 30 years of experience from GE, including roles in operational and financial leadership. Hanisch succeeds Adam Wadecki, who has been named senior vice president and controller.

Eaton, founded in 1911 and listed on the NYSE for over a century, reported revenues of $23.2 billion in 2023. The company focuses on power management solutions for various markets, including data centers, utilities, and aerospace, with a commitment to sustainability and renewable energy transition.