Eaton's (ETN) Earnings And Revenues Miss Estimates In Q4
Zacks Investment Research | Feb 03, 2020 11:06PM ET
Eaton Corporation (NYSE:ETN) reported fourth-quarter 2019 earnings of $1.37 per share, which lagged the Zacks Consensus Estimate of $1.40 by 2.1%. The reported earnings were at the lower end of management’s guided range of $1.36-$1.46 per share.
During the fourth quarter, the company recorded a pre-tax charge of $50 associated with warranty costs in the Vehicle business segment. The costs were being incurred to correct the performance of a product that incorporated a defective part from a supplier.
GAAP earnings in the reported quarter were $1.09 per share compared with $1.46 in the year-ago period. The difference between GAAP and operating earnings in the reported quarter was due to a one-time charge of 28 cents associated with acquisition and divestiture transaction.
Eaton Corporation, PLC Price, Consensus and EPS Surprise
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