Diversified industrial manufacturer Eaton Corp. (NYSE: ETN), Dublin, Ireland, reported 2014 sales were $22.6 billion, an increase of 2.6 percent from the previous year. Profit decreased to $1.8 billion.
“During 2014, our markets grew more slowly than we had expected. Despite that, operating earnings per share grew 13 percent, reflecting strong performance by our businesses as well as success in achieving the integration savings targeted from the Cooper acquisition," said Alexander M. Cutler, CEO of Eaton.
Sales for the fourth quarter were $5.6 billion, an increase of 0.5 percent year-over-year. Profit grew 21.3 percent to $585 million.
Electrical products sales for the quarter were up 2 percent to $1.8 billion. Fourth-quarter revenues for the electrical systems and services segment were $1.7 billion, a slight increase from the previous year.
Revenues for the hydraulics segment were $673 million, down 6 percent, while revenues for aerospace segment were $456 million, an increase of 2 percent. Revenues for the vehicle segment increased 4 percent year-over-year to $965 million for the quarter.
