Eaton Q1 Earnings Call Highlights

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Eaton (NYSE:ETN) reported first-quarter 2026 results that absorption described arsenic a coagulated commencement to the year, pointing to accelerating demand, grounds backlog levels, and raised full-year integrated maturation and net guidance. Chief Executive Officer Paulo Ruiz said rolling 12-month orders accrued crossed each businesses, with orders up 42% successful Electrical Americas and 13% successful some Electrical Global and Aerospace.

Ruiz said Eaton is “winning concern astatine unprecedented rates,” with grounds backlogs successful Electrical and Aerospace and a combined rolling 12-month book-to-bill of 1.2. He highlighted information halfway orders arsenic a cardinal driver, saying they were up 240%.

Quarterly show and updated outlook

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Eaton posted grounds gross of $7.5 cardinal successful the quarter, with grounds conception nett of $1.7 cardinal and conception margins of 22.7%, according to Ruiz. Chief Financial Officer Dave Foster said adjusted EPS was a first-quarter grounds of $2.81, $0.06 supra the midpoint of the company’s guidance range, and that the net outperformance was “all operational.” Foster besides said escaped currency travel roseate 245% versus the anterior year.

Following the quarter, Ruiz said Eaton raised its full-year integrated maturation outlook by 200 ground points to a midpoint of 10% and lifted the adjusted EPS midpoint anticipation to $13.28, which helium said includes the dilution from the Boyd Thermal acquisition. Eaton present expects 2026 adjusted EPS of $13.05 to $13.50.

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Ruiz said Eaton’s updated assumptions bespeak faster-than-expected maturation successful the information halfway and distributed IT market, including an estimation of 32 gigawatts of full information halfway capableness nether operation successful the U.S., with 70% tied to AI. He added that full information halfway backlog has grown to 228 gigawatts, which helium described arsenic “12 years of backlog astatine the 2025 physique rates,” up from 11 years successful the anterior update.

Electrical Americas: growth, ramp costs, and borderline span

Foster said first-quarter integrated maturation was 10% companywide, driven by Electrical Americas, Electrical Global, and Aerospace, partially offset by little income successful eMobility owed to the exit of a low-margin North America airy conveyance business. Excluding the eMobility decline, Foster said integrated maturation would person been “almost 12%.”