Q1 26 EPS
$2.81
BEAT +2.90%
Est. $2.73
Q1 26 Revenue
$7.45B
BEAT +4.32%
Est. $7.14B
vs S&P Since Q1 26
-8.6%
TRAILING MARKET
ETN -5.7% vs S&P +2.9%
Market Reaction
Did ETN Beat Earnings? Q1 2026 Results
Eaton delivered a strong beat across the board in Q1 2026, with adjusted EPS of $2.81 topping the $2.73 consensus estimate by 2.90% and revenue of $7.45 billion clearing Wall Street's $7.14 billion forecast by 4.32%, extending the company's EPS beat … Read more Eaton delivered a strong beat across the board in Q1 2026, with adjusted EPS of $2.81 topping the $2.73 consensus estimate by 2.90% and revenue of $7.45 billion clearing Wall Street's $7.14 billion forecast by 4.32%, extending the company's EPS beat streak to four consecutive quarters. The top-line result represented 16.8% growth year-over-year, powered largely by explosive demand from data center customers; Eaton's Electrical Americas segment saw its twelve-month rolling average of orders surge 42% organically, a figure that underscores the company's deepening role in AI infrastructure power distribution. The quarter also reflected the early contribution of $11.00 billion in acquisitions closed during the period, including the $9.55 billion Boyd Thermal deal, though those transactions drove GAAP EPS down to $2.22 from $2.45 a year ago due to significantly higher acquisition-related charges and tripling net interest expense. Looking ahead, Eaton raised its full-year 2026 organic growth guidance to 9-11% and set adjusted EPS guidance of $13.05 to $13.50, roughly 10% above 2025's adjusted EPS of $12.07.
Key Takeaways
- • Electrical Americas orders up 42% organically on twelve-month rolling average, driven by data center momentum
- • Organic sales growth of 10% exceeded the high end of 5-7% guidance range
- • Total backlog growth of 48% in Electrical sector and 28% in Aerospace
- • Electrical businesses book-to-bill ratio of 1.2
- • Aerospace segment margins reached record 26.7%, up 360 basis points year-over-year
- • Free cash flow up 245% year-over-year
ETN Forward Guidance & Outlook
For full year 2026, Eaton raised organic growth guidance to 9-11% (up from 8% midpoint), with segment margins of 24.1-24.5%, GAAP EPS of $10.88-$11.33, and adjusted EPS of $13.05-$13.50 (up 10% at the midpoint over 2025). For Q2 2026, the company expects organic growth of 9-11%, segment margins of 22.6-23.0%, GAAP EPS of $2.29-$2.39, and adjusted EPS of $3.00-$3.10. The Mobility business spin-off is expected to be completed by end of Q1 2027.
ETN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
ETN Revenue by Segment
With YoY comparisons, source: SEC Filings
“Strong demand across our markets drove solid first quarter performance, highlighted by order strength, backlog growth and our team's continued discipline and focus on operational execution. In Electrical Americas, we achieved strong organic growth while advancing significant capacity expansion investments to meet demand. Electrical Global also continues to outperform, and Aerospace delivered strong backlog growth and segment profit. Mobility delivered solid operational performance in a challenging market, and we remain on track toward its Q1 2027 planned spin-off into an independent, publicly traded company. We've taken bold actions to shape the portfolio, deliver the solutions our customers need and position ourselves to meet or exceed our 2030 targets.”
— Paulo Ruiz, Q1 2026 Earnings Press Release
ETN Earnings Trends
ETN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ETN EPS Trend
Earnings per share: estimate vs actual
ETN Revenue Trend
Quarterly revenue: estimate vs actual
ETN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.73 | $2.81 | +2.90% | $7.45B | +4.32% |
| Q4 25 BEAT FY | $3.32 | $3.33 | +0.34% | $7.06B | -0.51% |
| FY Full Year | $12.07 | $12.07 | +0.03% | $27.45B | +0.02% |
| Q3 25 BEAT | $3.05 | $3.07 | +0.51% | $6.99B | -1.30% |
| Q2 25 BEAT | $2.92 | $2.95 | +0.94% | $7.03B | +1.65% |
| Q1 25 BEAT | $2.71 | $2.72 | +0.55% | $6.38B | +2.02% |