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Earnings

Eaton rises about 7% as data center demand drives record quarter and higher outlook

The power management company beat on profit and sales, said data center revenue grew about 65%, and raised its full-year targets again.

· AP's Morning Brief

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Image: Arild Vågen, NYSE Broad Street facade, CC BY-SA 4.0

Eaton shares moved higher on Tuesday after the power management company reported record third-quarter results and raised its outlook, helped by strong demand tied to data centers.

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Adjusted earnings were a record $3.68 a share, ahead of the $3.54 analysts expected, according to Investing.com. Sales reached a record $8.9 billion, up 28% from a year earlier and above the $8.53 billion consensus. Organic sales grew 19%, above the high end of the company's guidance, and segment margins hit a record 25.3%.

Data centers were the standout. Eaton said data center revenue rose about 65% from a year earlier, and data center orders in its electrical business were up more than 100% on a rolling 12-month basis. The company now expects 2026 adjusted earnings of $13.70 to $13.80 a share, compared with a consensus of $13.60, and fourth-quarter adjusted earnings of $4.05 to $4.15 a share.

The stock was trading at $392.72 as of 11:02 a.m. ET on the New York Stock Exchange, up $26.65, or 7.28%, from Monday's regular-session price of $366.07, according to Nasdaq.com quote data. Higher interest costs from recent acquisitions weighed on earnings under standard accounting, which came to $2.77 a share. Prices can keep moving through the session.

Sources

  1. Eaton (Q3 2026 earnings release) — Nov. 3, 2026: record sales $8.9 billion, up 28%; organic sales growth 19%, above high end of guidance; record segment margins 25.3%; EPS $2.77; record adjusted EPS $3.68; 2026 adjusted EPS $13.70 to $13.80; Q4 adjusted EPS $4.05 to $4.15.
  2. Eaton Q3 2026 analyst presentation — Electrical Sector data center orders on a rolling 12-month basis up more than 100%; data center revenues up approximately 65% versus 3Q25; adjusted EPS $3.68; segment margin 25.3%; 19% organic growth; 28% total sales growth.
  3. Investing.com — Adjusted EPS $3.68 vs estimate $3.54; revenue record $8.9 billion, up 28%, vs consensus $8.53 billion; organic sales up 19%; 2026 adjusted EPS $13.70 to $13.80 vs consensus $13.60; Q4 adjusted EPS $4.05 to $4.15; segment margins 25.3%.
  4. The Motley Fool — Sales $8.9 billion up 28%; organic 19%; GAAP EPS $2.77; adjusted EPS $3.68; higher interest costs from acquisitions (Boyd Thermal, Ultra PCS) cut into GAAP profit.
  5. Nasdaq.com quote (ETN) — ETN last sale $392.72 ($392.7201), net change +26.65 ($26.6501), +7.28% as of Nov 3, 2026 11:02 AM ET, market open; implied Nov. 2 regular-session price $366.07.
  6. Yahoo Finance (ETN chart data) — ETN Nov 2, 2026 regular-session price $366.07; Nov 3 price $392.72 at about 11:02 AM ET.