eaton corp plc (ETN) Key Developments
Eaton Corporation plc Announces New Structural Support System
Apr 30 15
Eaton announced a new structural support system that transforms infrastructure support applications to yield dramatic efficiency improvements. Eaton's B-Line® series 4Dimension strut system revolutionizes how support systems are designed and installed in new and retrofit applications. The superior strength, lighter weight and improved functionality allow industrial, commercial and data center customers to compress project schedules, reduce material costs, save space and increase configuration flexibility. Eaton will display the new 4Dimension strut system as well as other structural solutions for oil and gas applications that save weight and improve performance at the 2015 Offshore Technology Conference (OTC) May 4 to 7 at NRG Park in Houston, booth #3517. A functional replacement for back-to-back strut systems, the new strut system provides considerable cost and material savings. Eaton developed its B-Line series 4Dimension strut system to deliver multi-sided functionality, superior strength, a lighter weight and modular design. The 4Dimension channel is roll formed, which helps improve the overall strength-to-weight ratio of the steel. The new system s multi-sided functionality yields up to a 50% reduction in material costs and its innovative trapeze hangers can help reduce installation time by up to 50%. The 4Dimension strut system is designed for a variety of commercial and industrial applications and is compatible with many traditional strut fittings and profiles. The solution also includes fittings and accessories that can often substitute the need for special orders requiring welded configurations. Eaton offers a broad range of B-Line series support systems, seismic bracing solutions, electrical enclosures and wireways designed to save time and deliver a lower total installed cost. The products offered serve customers in commercial construction, oil and gas, mining, solar, communications and data centers, and other markets.
Eaton Corporation plc Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015; Revised Earnings Guidance for the Year 2015
Apr 29 15
Eaton Corporation plc reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's net sales were $5,223 million compared to $5,492 million a year ago. Income before income taxes was $505 million compared to $453 million a year ago. Net income was $467 million compared to $441 million a year ago. Net income attributable to Eaton ordinary shareholders was $466 million compared to $439 million a year ago. Net income per ordinary share - diluted was $0.99 compared to $0.92 a year ago. Operating earnings was $473 million compared to $483 million a year ago. Operating earnings per ordinary share - diluted was $1.01 compared to $1.01 a year ago. Operating cash flow before the pension contribution was $300 million. CapEx was just over $100 million.
The company anticipates operating earnings per share for the second quarter of 2015, which exclude an estimated $16 million of pre-tax charges to integrate recent acquisitions, to be between $1.10 and $1.20. The company’s think that the second through fourth quarters are likely to be more in the area of 10% to 11% in terms of the tax rate.
In light of a larger impact from negative currency translation and lower growth in end markets, the company is slightly reducing guidance for full year 2015 operating earnings per share to between $4.65 and $4.95, a reduction of 2%. As a result of weaker conditions in some of markets, the company now anticipates organic revenue growth in 2015 will be between 2% and 3%, 1% lower than earlier estimate. The company is maintaining full year tax rate guidance of 9% to 11%.
Eaton Provides Engineering Services for 6.3MW Solar Installation in New Jersey
Apr 24 15
Eaton Corporation plc has provided electrical distribution equipment, engineering services and solar inverters for a 6.3MW solar installation at CentraState Medical Center in Freehold, New Jersey. The photovoltaic (PV) solar array annually will generate more than 8 million kilowatt-hours (kWh) of sustainable electricity to help the nonprofit health organization offset approximately 25% of its total electrical usage - and reduce yearly greenhouse gas emissions equivalent to nearly six million pounds of burned coal. KDC Solar, a New Jersey company that specializes in engineering, developing, owning and operating solar power facilities, selected Eaton for the project. The installation is fully financed by KDC Solar with CentraState Medical Center purchasing the power produced through a power purchase agreement.
Eaton Declares Quarterly Dividend, Payable May 22, 2015
Apr 21 15
The Board of Directors of Eaton declared a quarterly dividend of $0.55 per ordinary share payable May 22, 2015 to shareholders of record at the close of business on May 4, 2015.
Eaton Corporation plc to Report Q1, 2015 Results on Apr 29, 2015
Apr 8 15
Eaton Corporation plc announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on Apr 29, 2015