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Eaton

Eaton (ETN) Q2 2026 Earnings

Reported Jul 31, 2026 at 7:00 AM ET · SEC Source

Q2 26 EPS

$3.15

BEAT +2.27%

Est. $3.08

Q2 26 Revenue

$8.53B

vs S&P Since Q2 26

+11.7%

BEATING MARKET

ETN +15.9% vs S&P +4.1%

Market Reaction

Did ETN Beat Earnings? Q2 2026 Results

Eaton Corp delivered a strong second-quarter 2026 performance, posting adjusted EPS of $3.15 against a consensus estimate of $3.08, a beat of 2.27% that extends the company's streak of topping Wall Street expectations to five consecutive quarters. Re… Read more Eaton Corp delivered a strong second-quarter 2026 performance, posting adjusted EPS of $3.15 against a consensus estimate of $3.08, a beat of 2.27% that extends the company's streak of topping Wall Street expectations to five consecutive quarters. Revenue climbed 21.4% year over year to $8.53 billion, powered by 14% organic growth that came in above the high end of guidance, with an additional 7% contribution from acquisitions including Boyd Thermal, the $9.55 billion deal that closed in March and drove Electrical Global sales up 44% in the quarter. Electrical Americas added further momentum, generating $3.95 billion in sales with rolling twelve-month orders surging 41% organically, a signal that demand for power infrastructure tied to data center and grid buildout remains robust. Shares rallied sharply on the results as investors digested Eaton's decision to spin off its Mobility segment via a Reverse Morris Trust with Dana Incorporated, a move designed to sharpen focus on higher-margin Electrical and Aerospace operations. Management raised full-year organic growth guidance to 11-13% and lifted adjusted EPS guidance to a midpoint of $13.50, up roughly 12% over 2025.

Key Takeaways

  • • 14% organic sales growth above the high end of guidance
  • • Broad end-market strength with data centers as a key growth driver
  • • 12-month rolling average orders up 41% in Electrical Americas, 33% in Electrical Global, 17% in Aerospace
  • • Sequential margin expansion of 190 basis points in Electrical Americas
  • • Boyd Thermal contributing 25% to Electrical Global sales growth in first full quarter post-acquisition
  • • Total backlog growth of 43% in Electrical sector and 28% in Aerospace
  • • Book-to-bill ratio of 1.2 for both Electrical businesses and Aerospace

ETN Forward Guidance & Outlook

For full year 2026, Eaton expects organic growth of 11-13% (raised from prior guidance), segment margins of 24.1-24.5%, GAAP EPS of $10.36-$10.56, and adjusted EPS of $13.40-$13.60 (up 12% at midpoint over 2025). For Q3 2026, the company guides organic growth of 13.5-15.5%, segment margins of 24.6-25.0%, GAAP EPS of $2.77-$2.87, and adjusted EPS of $3.46-$3.56. The planned separation of the Mobility business via Reverse Morris Trust with Dana Incorporated is expected to close in Q1 2027 and be accretive to organic growth and margins upon closing.

24/7 Wall St

ETN YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

ETN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Eaton accelerated its momentum in the second quarter and delivered record sales and solid earnings from strong organic growth. Our focus on disciplined execution led to sequential margin expansion, especially in Electrical Americas. While data centers remain a key growth driver, we are benefiting from robust demand across our end markets. Reflecting this strong performance and sustained demand, we are raising our full-year organic growth guidance and remain well-positioned to deliver on our commitments.”

— Paulo Ruiz, Q2 2026 Earnings Press Release

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