Eaton Corp plc Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Eaton Corp plc has submitted its quarterly 10-Q filing for the period ending March 31, 2024.</b>

AI Summary

Eaton Corp plc (ETN) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Eaton Corp plc filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Eaton Corp plc is located in Dublin, Ireland. The filing was made on April 30, 2024.

Why It Matters

For investors and stakeholders tracking Eaton Corp plc, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational updates for Eaton Corp plc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — Eaton Corp plc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to identify any emerging trends or areas of concern.

Key Numbers

• 2024-03-31 — Report Period End Date (Quarterly period ended)
• 2024-04-30 — Filing Date (Date the 10-Q was filed)
• 1231 — Fiscal Year End (Annual fiscal year end)

Key Players & Entities

• Eaton Corp plc (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Period end date for the 10-Q filing
• 2024-04-30 (date) — Filing date of the 10-Q report
• 30 PEMBROKE ROAD (address) — Business and mailing address of Eaton Corp plc
• DUBLIN (location) — City of Eaton Corp plc's headquarters

FAQ

Industry Context

Eaton Corp plc operates in the industrial and commercial machinery and equipment sector.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the revenue and profitability by segment for Q1 2024.
2. Review any disclosed risk factors or management's discussion and analysis.
3. Compare key financial metrics to prior periods and industry benchmarks.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, providing updated financial information since the last annual report.

Key Financial Figures

• $0.01 — e on which registered Ordinary shares ($0.01 par value) ETN New York Stock Exchange

Filing Documents

• etn-20240331.htm (10-Q) — 1292KB
• etn03312024ex311.htm (EX-31.1) — 10KB
• etn03312024ex312.htm (EX-31.2) — 10KB
• etn03312024ex321.htm (EX-32.1) — 5KB
• etn03312024ex322.htm (EX-32.2) — 5KB
• 0001551182-24-000013.txt (&nbsp;) — 7688KB
• etn-20240331.xsd (EX-101.SCH) — 45KB
• etn-20240331_cal.xml (EX-101.CAL) — 66KB
• etn-20240331_def.xml (EX-101.DEF) — 246KB
• etn-20240331_lab.xml (EX-101.LAB) — 496KB
• etn-20240331_pre.xml (EX-101.PRE) — 393KB
• etn-20240331_htm.xml (XML) — 1541KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 21

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 30

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 31

— OTHER INFORMATION

PART II — OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 31

RISK FACTORS

ITEM 1A. RISK FACTORS 31

UNRE GISTER ED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNRE GISTER ED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 31

EXHIBITS

ITEM 6. EXHIBITS 32

SIGNATURES

SIGNATURES 34 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. EATON CORPORATION plc CONSOLIDATED STATEMENTS OF INCOME Three months ended March 31 (In millions except for per share data) 2024 2023 Net sales $ 5,943 $ 5,483 Cost of products sold 3,725 3,599 Selling and administrative expense 1,025 904 Research and development expense 189 179 Interest expense - net 30 50 Other income - net ( 26 ) ( 11 ) Income before income taxes 1,001 762 Income tax expense 179 123 Net income 822 639 Less net income for noncontrolling interests ( 1 ) ( 1 ) Net income attributable to Eaton ordinary shareholders $ 821 $ 638 Net income per share attributable to Eaton ordinary shareholders Diluted $ 2.04 $ 1.59 Basic 2.05 1.60 Weighted-average number of ordinary shares outstanding Diluted 401.9 400.5 Basic 399.9 398.5 Cash dividends declared per ordinary share $ 0.94 $ 0.86 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Table of Contents EATON CORPORATION plc CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three months ended March 31 (In millions) 2024 2023 Net income $ 822 $ 639 Less net income for noncontrolling interests ( 1 ) ( 1 ) Net income attributable to Eaton ordinary shareholders 821 638 Other comprehensive income (loss), net of tax Currency translation and related hedging instruments ( 53 ) 119 Pensions and other postretirement benefits 17 ( 2 ) Cash flow hedges ( 4 ) 15 Other comprehensive income (loss) attributable to Eaton ordinary shareholders ( 40 ) 132 Total comprehensive income attributable to Eaton ordinary shareholders $ 781 $ 770 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents EATON CORPORATION plc CONSOLIDATED BALANCE SHEETS (In millions) March 31, 2024 December 31, 2023 Assets Current assets Cash $ 473 $ 488 Short-term investments 1,969 2,121 Accounts receivable - net 4,674 4,475 Inventory 3,868 3,739 Pre

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View this 10-Q filing on SEC EDGAR