Eaton Corporation plc: Eaton Reports Fourth Quarter Earnings Per Share of $1.18
Full Year Free Cash Flow $2.6 Billion, at the Top of Guidance Range
Starting in 2021, Adjusted Earnings Per Share Will Be Revised to Add Back Amortization of Intangibles
Adjusted Earnings Per Share for 2021 Expected to be Between $5.40 and $5.80
Power management company Eaton Corporation plc (NYSE:ETN) today announced that earnings per share were $1.18 for the fourth quarter of 2020. Excluding charges of $0.06 per share related to acquisitions and divestitures and $0.04 per share related to a multi-year restructuring program, adjusted earnings per share were $1.28.
Sales in the fourth quarter of 2020 were $4.7 billion. Organic sales were down 5 percent, and the divestitures of the Lighting and Automotive Fluid Conveyance businesses reduced sales by 8 percent, partially offset by 2 percent growth from acquisitions.