Jun 2026 (Q2 FY26) — Jul 31, 2026
Eaton Q2 FY26 — Record Revenue and EPS, Strong Data Center Demand, and Raised Full-Year Guidance
Read the full callEaton (ETN) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Eaton earnings: last reported Fri, 31 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 8,531 | +21.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 821 | −16.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
23 of 32 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Electrical Americas sequential segment margin improvement, Q1 to Q2 | up 150 basis points from Q1 to Q2 | Mar 2026 | We are pleased with our better-than-expected margins of 27.5%, 190 basis points higher than Q1 | Achieved |
| Full-year adjusted EPS | $13.00 to $13.50 | Dec 2025 | Now we expect full year EPS to be between $13.40 and $13.60, $13.50 at the midpoint | Revised Up |
| Adjusted EPS growth to 2030 | 12% or higher on average over the period | Dec 2025 | our confidence in delivering on our 2026 and 2030 commitments | On Track |
9 of Eaton Corp plc's 66 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 63 more targets are in the full ledger.
Claimed
- Adjusted EPS of $3.15 exceeded guidance by $0.10 at the midpoint, reflecting strong operating performance.
- Record revenue of $8.5 billion, with 21% total growth and 14% organic growth.
- Electrical Americas organic growth accelerated to 18%, achieving 190 basis points of margin expansion quarter-over-quarter.
- Total company book-to-bill remained strong at 1.2, with Electrical Americas at 1.3 and Aerospace at 1.2.
- Full-year guidance raised for organic growth by 200 basis points to 12% midpoint and adjusted EPS by $0.22 to $13.50 midpoint.
Qualified
- Electrical Americas experienced a year-over-year margin decline primarily due to temporary negative price cost.
- A higher tax rate partially offset the segment profit beat by $0.15.
Price
$391.5 +0.06% · +$0.25
Performance +4.9% 1Y
1Y: $373.3 on 17 Oct 2025 → $391.5. High $459.96 (12 Aug 2026), low $315.82 (17 Dec 2025).
- Previous close
- $391.25
- 52-week range
- $315.82 – $459.96
- One year
- +3.66%
Overview
- Symbol
- ETN
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
23 of 32 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Electrical Americas sequential segment margin improvement, Q1 to Q2 | up 150 basis points from Q1 to Q2 | Mar 2026 | We are pleased with our better-than-expected margins of 27.5%, 190 basis points higher than Q1 | Achieved |
| Full-year adjusted EPS | $13.00 to $13.50 | Dec 2025 | Now we expect full year EPS to be between $13.40 and $13.60, $13.50 at the midpoint | Revised Up |
| Adjusted EPS growth to 2030 | 12% or higher on average over the period | Dec 2025 | our confidence in delivering on our 2026 and 2030 commitments | On Track |
Claimed
- Adjusted EPS of $3.15 exceeded guidance by $0.10 at the midpoint, reflecting strong operating performance.
- Record revenue of $8.5 billion, with 21% total growth and 14% organic growth.
- Electrical Americas organic growth accelerated to 18%, achieving 190 basis points of margin expansion quarter-over-quarter.
- Total company book-to-bill remained strong at 1.2, with Electrical Americas at 1.3 and Aerospace at 1.2.
- Full-year guidance raised for organic growth by 200 basis points to 12% midpoint and adjusted EPS by $0.22 to $13.50 midpoint.
Qualified
- Electrical Americas experienced a year-over-year margin decline primarily due to temporary negative price cost.
- A higher tax rate partially offset the segment profit beat by $0.15.
The full ledger
Open Eaton Corp plc’s full ledger
A free account opens 5 company ledgers a month. All 66 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
Eaton Q1 FY26 — Record revenue and orders on data-center surge; Electrical Americas margin troughs
Read the full callDec 2025 (Q4 FY25) — Feb 3, 2026
Eaton Q4 FY25 — Record Orders and Backlog Drive Strong Performance
Read the full callEvery analysed call
Eaton earnings calls (ETN)
Financials
What the filings say
Net profit, year on year: −16% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,345 | 6,240 | 6,377 | 7,028 | 6,988 | 7,055 | 7,451 | 8,531 |
| Interest | 29 | 42 | 33 | 71 | 67 | 70 | 106 | 201 |
| Profit before tax | 1,204 | 1,166 | 1,177 | 1,186 | 1,275 | 1,294 | 1,107 | 1,144 |
| Tax rate | 16.0% | 16.7% | 18.0% | 17.1% | 20.7% | 12.5% | 21.7% | 28.1% |
| Net profit | 1,009 | 971 | 964 | 982 | 1,010 | 1,131 | 866 | 821 |
| EPS ($ per share) | 2.54 | — | 2.46 | 2.52 | 2.60 | — | 2.23 | 2.11 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 8,161 | 8,170 | 6,794 | 7,594 | 8,468 | 10,305 | 10,096 | 10,702 |
| Total liabilities | 14,950 | 16,672 | 16,851 | 17,576 | 17,939 | 19,363 | 19,850 | 21,782 |
| Fixed assets | 3,467 | 3,496 | 2,964 | 3,064 | 3,146 | 3,530 | 3,729 | 4,316 |
| Investments | 157 | 221 | 664 | 271 | 261 | 2,121 | 1,525 | 181 |
| Total assets | 31,092 | 32,805 | 31,824 | 34,027 | 35,014 | 38,432 | 38,381 | 41,251 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,658 | 3,451 | 2,944 | 2,163 | 2,533 | 3,624 | 4,327 | 4,472 |
| Cash from investing | -398 | -1,866 | 397 | -1,764 | -1,200 | -2,575 | -271 | -1,101 |
| Cash from financing | -2,581 | -1,494 | -3,258 | -535 | -1,340 | -871 | -3,936 | -3,173 |
| Net cash flow | -278 | 87 | 68 | -141 | -3 | 194 | 67 | 67 |
| Capital expenditure | -565 | -587 | -389 | -575 | -598 | -757 | -808 | -919 |
| Free cash flow | 2,093 | 2,864 | 2,555 | 1,588 | 1,935 | 2,867 | 3,519 | 3,553 |
ETN revenue by segment
Electrical Global grew from 25% to 30% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Electrical Americas | 47% | 46% | 47% | 48% | — | — | 48% | 46% | +17.9% |
| Electrical Global | 25% | 25% | 25% | 25% | 25% | 25% | 26% | 30% | +43.6% |
| Aerospace | 15% | 15% | 15% | 15% | 15% | 16% | 15% | 14% | +13.1% |
| Mobility | — | — | — | — | — | — | 10% | 10% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ETN operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Book-to-bill ratio Electrical Americas | — | — | 1.1 ratioEven with record sales, book-to-bill increased to 1.1 with 17% growth in our large $11.4 billion backlog, providing strong visibility for our organic growth in 2025 and beyond.Source: earnings call transcript | 1.1 ratioBook-to-bill remained at 1.1, and our backlog grew by $2 billion or 20% to $12 billion, providing strong visibility for our organic growth outlook.Source: earnings call transcript | 1.2 ratioBook-to-bill increased to 1.2, and our backlog year-on-year grew by over $3 billion or 31% to $13.2 billion, providing strong visibility for our organic growth outlook.Source: earnings call transcript | 1.3 ratioOur total company book-to-bill remains strong at 1.2, with Americas book-to-bill expanding to 1.3 and Aerospace to 1.2.Source: earnings call transcript | +8.3% |
| Backlog Electrical | $11.8BBacklog continues to be very strong with Electrical at $11.8 billion and Aerospace at $3.7 billion for a total backlog of $15.5 billion.Source: earnings call transcript | — | — | — | $15.3BOn the right, backlog also continues to set records with Electrical at $15.3 billion and Aerospace at $4.3 billion for a total backlog of $19.6 billion.Source: earnings call transcript | — | — |
| Backlog Aerospace | $3.7BBacklog continues to be very strong with Electrical at $11.8 billion and Aerospace at $3.7 billion for a total backlog of $15.5 billion.Source: earnings call transcript | — | — | — | $4.3BOn the right, backlog also continues to set records with Electrical at $15.3 billion and Aerospace at $4.3 billion for a total backlog of $19.6 billion.Source: earnings call transcript | — | — |
| Backlog | $15.5BBacklog continues to be very strong with Electrical at $11.8 billion and Aerospace at $3.7 billion for a total backlog of $15.5 billion.Source: earnings call transcript | — | — | — | $19.6BOn the right, backlog also continues to set records with Electrical at $15.3 billion and Aerospace at $4.3 billion for a total backlog of $19.6 billion.Source: earnings call transcript | — | — |
| Book-to-bill ratio | — | 1.1 ratioAnd as a result, total Eaton book-to-bill ratio at 1.1 with backlog growth year-over-year and sequentially.Source: earnings call transcript | — | 1.2 ratioAs a result, our book-to-bill for the combined segments was 1.2 on a quarterly basis and 1.1 on a rolling 12-month basis.Source: earnings call transcript | — | 1.2 ratioOur total company book-to-bill remains strong at 1.2, with Americas book-to-bill expanding to 1.3 and Aerospace to 1.2.Source: earnings call transcript | — |
| Backlog Electrical Americas | — | — | $11.4BEven with record sales, book-to-bill increased to 1.1 with 17% growth in our large $11.4 billion backlog, providing strong visibility for our organic growth in 2025 and beyond.Source: earnings call transcript | $12BBook-to-bill remained at 1.1, and our backlog grew by $2 billion or 20% to $12 billion, providing strong visibility for our organic growth outlook.Source: earnings call transcript | $13.2BBook-to-bill increased to 1.2, and our backlog year-on-year grew by over $3 billion or 31% to $13.2 billion, providing strong visibility for our organic growth outlook.Source: earnings call transcript | — | +10% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
101 filings between Oct 31, 2025 and Oct 2, 2026.
Open market
decisions to buy or sellPurchases
$588.8K
6 purchases by 1 insider
Sales
$22.59M
8 sales by 7 insiders
Compensation
not trading decisions- 5
- Award — granted as compensation
- 39
- Option exercise — converted options into shares
- 42
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Monesmith Heath B. | — | $15.78M | Aug 11, 2026 |
| RUIZ STERNADT PAULO | — | $4.18M | Feb 12, 2026 |
| Yelton Michael | — | $1.31M | Mar 2, 2026 |
| Denk Peter | — | $835.9K | May 6, 2026 |
| Johnson Gerald | $588.8K | — | Aug 13, 2026 |
| Wadecki Adam A | — | $231.3K | Aug 4, 2026 |
| Galvao Antonio | — | $200.5K | May 13, 2026 |
| Thompson Dorothy C | — | $64.3K | May 22, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Wadecki Adam A See Remarks below. | Tax withheld | 390 | $172.7K |
| Oct 2, 2026 | Wadecki Adam A See Remarks below. | Option exercise | 997 | $0 |
| Aug 13, 2026 | Johnson Gerald Director | Purchase | 130 | $59.3K |
| Aug 12, 2026 | Johnson Gerald Director | Purchase | 70 | $32.9K |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Option exercise | 583 | $99.9K |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Tax withheld | 218 | $99.9K |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Sale | 18,036 | $8.26M |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Tax withheld | 217 | $99.4K |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Option exercise | 658 | $99.9K |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Option exercise | 18,036 | $2.36M |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Option exercise | 764 | $100.0K |
| Aug 11, 2026 | Monesmith Heath B. See Remarks below. | Tax withheld | 218 | $99.9K |
| Aug 6, 2026 | Yelton Michael See Remarks below. | Option exercise | 658 | $99.9K |
| Aug 6, 2026 | Yelton Michael See Remarks below. | Tax withheld | 221 | $99.8K |
| Aug 4, 2026 | Wadecki Adam A See Remarks below. | Sale | 525 | $231.3K |
| May 22, 2026 | Thompson Dorothy C Director | Sale | 167 | $64.3K |
| May 13, 2026 | Galvao Antonio See Remarks below. | Sale | 494 | $200.5K |
| May 11, 2026 | Johnson Gerald Director | Purchase | 215 | $90.1K |
| May 8, 2026 | Johnson Gerald Director | Purchase | 746 | $300.1K |
| May 6, 2026 | Thompson Dorothy C Director | Option exercise | 621 | $0 |
| May 6, 2026 | Schulten Andre Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | Schulten Andre Director | Option exercise | 621 | $0 |
| May 6, 2026 | Ryerkerk Lori Director | Option exercise | 621 | $0 |
| May 6, 2026 | Johnson Gerald Director | Option exercise | 353 | $0 |
| May 6, 2026 | Johnson Gerald Director | Tax withheld | 85 | $35.4K |
| May 6, 2026 | Ryerkerk Lori Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | Denk Peter See Remarks below. | Sale | 2,000 | $835.9K |
| May 6, 2026 | PRAGADA ROBERT V Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | Pianalto Sandra Director | Option exercise | 621 | $0 |
| May 6, 2026 | Thompson Dorothy C Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | PRAGADA ROBERT V Director | Option exercise | 621 | $0 |
| May 6, 2026 | Terrell Karenann K Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | PAGE GREGORY R Director | Option exercise | 621 | $0 |
| May 6, 2026 | Napoli Silvio Director | Tax withheld | 299 | $124.5K |
| May 6, 2026 | Napoli Silvio Director | Option exercise | 621 | $0 |
| May 6, 2026 | Monesmith Heath B. See Remarks below. | Sale | 18,367 | $7.51M |
| May 6, 2026 | Wilson Darryl L. Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | PAGE GREGORY R Director | Tax withheld | 150 | $62.5K |
| May 6, 2026 | Wilson Darryl L. Director | Option exercise | 621 | $0 |
| May 6, 2026 | Terrell Karenann K Director | Option exercise | 621 | $0 |
| May 6, 2026 | Pianalto Sandra Director | Tax withheld | 150 | $62.5K |
| Mar 2, 2026 | Yelton Michael See Remarks below. | Sale | 3,494 | $1.31M |
| Feb 27, 2026 | Galvao Antonio See Remarks below. | Option exercise | 96 | $0 |
| Feb 27, 2026 | Galvao Antonio See Remarks below. | Tax withheld | 27 | $10.0K |
| Feb 27, 2026 | LEONETTI OLIVIER See Remarks below. | Tax withheld | 1,060 | $393.1K |
| Feb 27, 2026 | LEONETTI OLIVIER See Remarks below. | Option exercise | 2,466 | $0 |
| Feb 27, 2026 | LEONETTI OLIVIER See Remarks below. | Tax withheld | 339 | $125.7K |
| Feb 27, 2026 | LEONETTI OLIVIER See Remarks below. | Option exercise | 1,162 | $0 |
| Feb 27, 2026 | Monesmith Heath B. See Remarks below. | Tax withheld | 393 | $145.8K |
| Feb 27, 2026 | Monesmith Heath B. See Remarks below. | Option exercise | 889 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for Eaton Corp plc
Free account. Everything above stays public.
Write why you follow Eaton Corp plc and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other companies in Industrials
Nearest to Eaton by market cap among the sector's top 20 companies at Q2 2026.