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Eaton
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Latest analysis
Updated Nov 3, 2026
Eaton posts all-time record Q3 2026 EPS of $3.68 on 19% organic growth, raises full-year organic growth guidance 200bps to 14% midpoint — third raise this year.
Eaton delivered its strongest quarter on record in Q3 2026, with organic growth of 19%, segment margins at an all-time high of 25.3%, and adjusted EPS of $3.68 — $0.17 above guidance midpoint. Electrical Americas accelerated to 22% organic growth with margins reaching 29.8%, while Electrical Global surged 27% organically as APAC posted nearly 50% growth and Boyd Thermal tripled its backlog year-over-year. Management raised full-year organic growth guidance to 13%-15% and EPS to $13.70-$13.80, and provided a 2027 framework projecting double-digit end-market growth across roughly 90% of the portfolio, with Boyd expected to reach $2.7 billion in revenue.
Tone: bullishRevenue
$27.4B
ETN 10-K · FY 2025
Employees
97,000
Revenue FY2024
$24.9B
Founded
1911
Profile
ETN 10-K Item 1 · Feb 26, 2026Eaton Corporation plc is an intelligent power management company serving customers across data center, utility, industrial, commercial, aerospace, and mobility markets in 180 countries. The company operates across five reportable segments — Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility — and generated $27.4 billion in revenue in 2025. Eaton is actively repositioning its portfolio toward electrification and data center infrastructure, including a planned spin-off of its Mobility business announced in January 2026.
Read filing description ↓ Collapse description ↑
Eaton Corporation plc is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are capitalizing on the megatrends of the electrification, digitalization, and the reindustrialization of and growth of megaprojects in North America and increased global infrastructure spending, all of which are expanding our end markets and positioning Eaton for growth for years to come. We are strengthening our participation across the entire electrical power value chain and benefiting from momentum in the data center and utility end markets as well as a growth cycle in the commercial aerospace and defense markets. We are guided by our commitment to operate sustainably and with the highest ethical standards. Our work is helping to solve the world's most urgent power management challenges and building a more sustainable society for people today and for future generations. Founded in 1911, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of $27.4 billion in 2025, the Company serves customers in 180 countries.
Primary products
- electrical power management products and systems
- electrical systems and services
- aerospace technologies
- vehicle drivetrain and powertrain systems
- eMobility solutions
- modular data center solutions
Business segments
End markets
Geographies
Named customers
In 2025, 22% of these segments' sales were made to six large customers of electrical products and electrical systems and services.
“Eaton has a strong competitive position in these segments and, with respect to many products, is considered among the market leaders.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total net sales increased from $24,878 million in 2024 to $27,448 million in 2025, driven by strong growth in Electrical Americas and Aerospace segments.
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