Eaton Guides Q1, FY23 Adj. EPS Well Below Estimates - Update
(RTTNews) - While reporting its financial results for the fourth quarter on Wednesday, power management company Eaton Corp plc (ETN) provided adjusted earnings guidance for the first quarter and full-year 2023, well below analysts' estimates.
For the first quarter, the company expects adjusted earnings in a range of $1.72 and $1.82 per share on organic sales growth of 7 to 9 percent.
On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $3.10 per share for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company now projects adjusted earnings in a range $8.04 to $8.44 per share on organic sales growth of 7 to 9 percent. The Street is looking for earnings of $12.00 per share for the year.
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