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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. ....
Eaton Expands in Aerospace, Will Buy Cobham Mission Systems for $2.8B The news comes just three days after Eaton said it would buy power management supplier Tripp Lite for $1.65 billion. Feb 2nd, 2021 Eaton Power management supply giant Eaton has begun 2020 with a bang, announcing two major acquisitions within a four-day stretch. The Dublin, Ireland-based company said Monday that it has signed an agreement to acquire Cobham Mission Systems (CMS), a major supplier of air-to-air refueling systems, environmental systems and actuation primarily for defense markets. Eaton will pay $2.83 billion for CMS, which includes $130 million in tax benefits. That cost represents about 14 times CMS 2020 EBITDA and 13 times its estimated 2021 EBITDA. ....
Operator Ladies and gentlemen, thank you for your patience and holding. And welcome to the Eaton Fourth Quarter of 2020 Earnings Call. [Operator Instructions] And later there ll be an opportunity for your questions. [Operator Instructions] Just a brief reminder, today s conference is being recorded. I m now happy to turn the conference over to Senior Vice President of Investor Relations, Yan Jin. Yan Jin Senior Vice President of Investor Relations Hi, good morning. I m Yan Jin, Eaton s Senior Vice President of Investor Relations. Thank you all for joining us for Eaton s fourth quarter 2020 earnings call. With me today are Craig Arnold, our Chairman and CEO; and Rick Fearon, Vice Chairman, our Chief Financial and Planning Officer. ....