Sector: Industrials|Industry: Specialty Industrial Machinery|Market Cap: $140.70B|Employees: 94K
Eaton Corporation plc is an intelligent power management company that creates products for various sectors, including data centers, utilities, and industrial, commercial, and residential markets. Their primary revenue streams come from the sale of these products and related services. Eaton holds a strong market position due to its technological advantages and global reach, serving customers across more than 160 countries.
Eaton reported revenues of $23.2 billion in 2023, reflecting growth across multiple segments due to strong end-market demand and pricing actions. This indicates a healthy top-line performance.
While Eaton experienced revenue growth, the report mentions that operating inefficiencies due to supply chain constraints or shortages, inflation, and selective labor shortages impacted margins. This suggests potential pressure on profitability.
Net income attributable to Eaton ordinary shareholders increased to $3.218 billion in 2023, reflecting a 31% increase from 2022. This growth is due to operational improvements and strategic portfolio management.