EATON CORPORATION Reports Q2 FY2023 Earnings Results for June 30 2023
August 24, 2023
🌥️Earnings Overview
EATON CORPORATION ($NYSE:ETN) reported on August 1 2023 that its total revenue for the second quarter of FY2023, ending June 30 2023, was USD 5866.0 million, a 12.5% increase compared to the same period in the previous fiscal year. Net income for the quarter stood at USD 744.0 million, a 23.8% increase year over year.
Stock Price
On Tuesday, EATON CORPORATION announced its financial results for the second quarter of fiscal 2023 ended on June 30, 2023. EATON CORPORATION reported its stock opened at $211.4 and closed at $219.0, representing a 6.7% rise from prior closing price of $205.3. The company is well-positioned to continue its long-term growth and shareholder returns going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Eaton Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 22.05k | 2.71k | 12.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Eaton Corporation. More…
| Operations | Investing | Financing |
| 3.34k | -1.41k | -1.95k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Eaton Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 36.77k | 18.78k | 45.04 |
Key Ratios Snapshot
Some of the financial key ratios for Eaton Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.7% | 18.4% | 15.4% |
| FCF Margin | ROE | ROA |
| 12.3% | 12.0% | 5.8% |
Analysis
At GoodWhale, we’ve conducted an analysis of EATON CORPORATION‘s fundamentals. Our Star Chart shows that EATON CORPORATION is strong in dividend and profitability, and medium in asset and growth. Based on our analysis, we classify the company as ‘gorilla’ – a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given its strength in fundamentals, EATON CORPORATION is likely to be of interest to growth and value investors alike. Furthermore, its high health score of 8/10 with regard to its cashflows and debt makes it capable of safely weathering any crisis, reducing the risk of bankruptcy. More…
Peers
The competition among global suppliers of energy-efficient electric motors is intense. The leading companies in the market are Eaton Corp PLC, Nidec Corp, Sanso Electric Co Ltd, and Hubbell Inc. These companies are all striving to develop the most efficient and reliable products to meet the needs of their customers.
– Nidec Corp ($TSE:6594)
Nidec Corporation is a Japanese company that manufactures electric motors and other components. The company has a market capitalization of 4.47 trillion yen and a return on equity of 8.78%. Nidec is a global leader in the production of electric motors and other components for a variety of industries, including automotive, appliance, and industrial. The company’s products are used in a wide range of applications, from electric vehicles and hybrid vehicles to refrigerators and air conditioners.
– Sanso Electric Co Ltd ($TSE:6518)
Sanso Electric Co Ltd is a Japanese company that manufactures electrical equipment. Its market cap as of 2022 is 4.79B, and its ROE is 6.4%. The company makes a wide range of products, including electrical motors, generators, transformers, and other equipment. It has a long history dating back to the late 19th century, and it is one of the largest manufacturers of electrical equipment in Japan.
– Hubbell Inc ($NYSE:HUBB)
Hubbell Inc is a leading manufacturer of electrical and electronic products. The company has a market capitalization of $11.69 billion and a return on equity of 17.31%. Hubbell’s products are used in a wide range of applications, including commercial, industrial, and residential construction, as well as in the utility and transportation industries. The company’s products are sold through a network of distributors and retailers around the world.
Summary
EATON CORPORATION reported strong second quarter results for FY2023, ending June 30 2023. The company saw total revenue of USD 5866.0 million, up 12.5% year-over-year, and net income of USD 744.0 million, a 23.8% increase from the prior year. This positive earnings report led to a stock price appreciation on the same day, suggesting investor optimism in EATON CORPORATION. Moving forward, investors may want to keep an eye on the company’s future performance and any potential catalysts that could drive the share price higher.
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