Eaton reports strong end-market growth in the first quarter compared with last year.
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Revenues from developing countries increased 30 percent for the diversified manufacturer.
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The Tuthill Coupling Group manufactures pneumatic and hydraulic coupling systems.
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Manufacturer reports end markets grew 14 percent for the quarter.
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Eaton, a diversified manufacturer, reported a sales increase of 16% in the second quarter.
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Growth for the diversified industrial manufacturer strongest in Asia and Brazil.
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Core sales for the diversified manufacturer fell 15%.
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Profit for the electrical manufacturer was down 26% from the prior year.
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Eaton CEO discusses economy at J.P. Morgan Diversified Industries Conference
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales in the second quarter were $2.90 billion, 32% below the second quarter of 2008. Core sales were down 26%. Profit was $29 million compared to $333 million in 2008.
For the first six months, sales were $5.7 billion, down 26.5% from the first half of 2008. The company recorded a loss of $21 million for the period, compared to profit of $580 million the prior year period.
"As we survey our end markets, the year is shaping up to be considerably weaker than we had forecast in April," CEO Alexander M. Cutler said. "We now anticipate our overall end markets will decline by between 21 and 22% versus our earlier forecast of a decline between 15 and 16%."
Second quarter sales for the Electrical Americas segment …
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales in the fourth quarter of 2009 were $3.5 billion, up 3% from the same period in 2007. Profit was $163 million, a decrease of 36%.
Sales growth in the fourth quarter consisted of 13% percent growth from acquisitions, offset by a 6% decline from lower exchange rates and a 4% decline in organic growth. End markets in the fourth quarter declined by 6%.
For the full year 2008, the company reported sales of $15.4 billion, 18% above 2007. Profit increased 6% to $1.06 billion.
So far in 2009, our markets have continued to decline. We anticipate that our markets will decline through at least the second, and possibly the third, quarter, CEO Alexander M. Cutler …
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales of $4.1 billion for the third quarter, an increase of 25% over the same period a year ago. Profit was $315 million compared to $258 million in 2007, an increase of 22%.
Sales growth in the quarter consisted of 4% from organic growth, 19% from acquisitions, and 2% from exchange rates.
The severe issues in world financial markets have started to impact markets for our products. While it is not possible to forecast with precision the prospective impact upon our end markets, prudence suggests anticipating a significant slowdown,”CEO Alexander M. Cutler said. “While our year-over-year end market growth in the third quarter was 2 percent, we anticipate fourth quarter growth in our end …
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, has acquired Integ Holdings Ltd., the parent company of Integrated Hydraulics Ltd., a U.K. manufacturer of screw-in cartridge valves, custom-engineered hydraulic valves and manifold systems.
This acquisition expands the geographic presence of Eaton’s hydraulics business, enhances its current hydraulic product portfolio and helps us become a more significant partner for European customers,”said William R. VanArsdale, president -Eaton’s Hydraulics Business. The company employs approximately 290 people.
Eaton is a diversified power management company with 2007 sales of $13 …
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Eaton Corp., Cleveland, OH, has acquired the engine valves business of Indian company Kirloskar Oil Engines Ltd.
Through this acquisition, we will be able to use our global resources to meet the needs of the domestic Indian customer base and provide support to our customers around the world,”said Joseph P. Palchak, CEO -Automotive Group. “In addition, Kirloskar’s new facility in Ahmednagar, India, provides Eaton with a first-class valve facility, expansion opportunities and an experienced workforce.”
The engine valves business of Kirloskar Oil Engines Ltd. employs 500 people in India and had 2007 sales of $5 million. The business designs, manufactures and sells intake and exhaust valves for diesel and gasoline engines.
Eaton is a diversified …
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales of $4.28 billion for second quarter 2008, 32% above the second quarter of 2007. Profit was $333 million, an increase of 35% over the same quarter in 2007.
Sales growth in the second quarter consisted of 19% from acquisitions, 8% from organic growth, and 5% from exchange rates.
Our businesses performed extremely well in the second quarter, generating strong sales growth and record profits. We were able to achieve these results despite the nearly 40% rise in oil prices during the quarter,” said Alexander M. Cutler, Eaton CEO.
“With 20% of our revenue from emerging countries and with continued strength in many of our product markets, we believe we are well-positioned to …
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales for the first quarter 2008 were $3.5 billion, 12% above the same period in 2007. Profit was $247 million.
Sales growth was the results of 2% organic growth, 6% from acquisitions and 4% from higher exchange rates. End markets for Eaton grew 2%.
Eaton reported it anticipated growth of 4% in its end markets in 2008, with international markets modestly stronger” than expectations in January and U.S. markets “slightly weaker.”
Sales for the Electrical segment were $1.3 billion, up 20% over 2007. This includes 11% growth from acquisitions. Eaton reported end markets in electrical grew 7% in both U.S. and non-U.S. markets.
Hydraulics segment sales were $657 million, …
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Diversified industrial manufacturer Eaton Corp., Cleveland, OH, plans to acquire two electrical suppliers -one in Europe and one in Asia-Pacific. The acquisitions’ combined estimated sales for the year ended Dec. 31, 2007, are $2 billion.
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When the acquisitions close, Eaton’s electrical business will have annual sales of more than $7.5 billion.
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The European acquisition is of The Moeller Group, Bonn, Germany, a supplier of components for commercial and residential building applications, and industrial controls for industrial equipment applications. The company sells products primarily to customers in Western and Eastern Europe and in Asia Pacific. The agreed purchase price for Moeller is & euro; 1.55 billion (US$2.23 billion).
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The Moeller Group …
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Diversified industrial manufacturer Eaton Corporation, Cleveland, OH, has acquired Babco Electric Group, Alberta, Canada.
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Babco Electric Group is a manufacturer of specialty low- and medium-voltage switchgear and electrical housings for use in the Canadian oil and gas industry and other harsh environments. Babco Electric Group had sales of $11 million in the fiscal year ended April 30, 2007.
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The acquisition of Babco provides access to established distribution channels and customers in Canada with a strong focus on the oil sands market, as well as increased engineering and production capabilities,” said Randy W. Carson, Eaton senior vice president and president& ndash; Electrical Group.
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Eaton Corporation is a diversified industrial …
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Diversified industrial manufacturer Eaton Corporation, Cleveland, OH, reported sales were up 7% in the third quarter 2007, and profit up 6% over the same period a year ago.
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Sales in the quarter were $3.3 billion.
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Sales growth consisted of 1% from organic growth, 3% from acquisitions and 3% from exchange rates.
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Alexander M. Cutler, Eaton CEO, said: We outgrew our end markets by 5% this quarter, which was offset in large part by a 4% reduction in our end markets, resulting in 1% organic growth.”
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“& hellip; Due to the economic uncertainties triggered by the late summer turmoil in global credit markets, we believe that our overall markets in the fourth quarter will not improve as we had earlier anticipated. While the …
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Diversified industrial manufacturer Eaton Corporation, Cleveland, OH, reported sales of $3.25 billion in second quarter 2007, up 4% over the same period a year ago. Profit was $246 million, a decrease of 3%.
End markets were reported to have declined by 4%, due principally to the anticipated decline in the NAFTA heavy-duty truck market.
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The manufacturer reported slightly stronger growth in the electrical markets, offset by weaker-than-anticipated conditions in the North American hydraulics markets.
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Eaton has closed seven acquisitions in the first half of the year, with the majority of acquisition spending in aerospace and electrical power quality.
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Business Segment Results
Second quarter sales for the Electrical …
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