Eaton Corp. Q2 Profit Retreats 9%

(RTTNews) - Eaton Corp. (ETN) released earnings for second quarter that decreased compared to the same period last year.

The company said its profit dropped to $492 million, or $1.07 per share. This was down from $543 million, or $1.16 per share, in last year's second quarter.

Analysts had expected the company to earn $1.07 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.4% to $5.08 billion. This was down from $5.37 billion last year.

Eaton Corp. earnings at a glance:

-Earnings (Q2): $492 Mln. vs. $543 Mln. last year. -Earnings Decline (Y-o-Y): -9.4% -EPS (Q2): $1.07 vs. $1.16 last year. -EPS Decline (Y-o-Y): -7.8% -Analysts Estimate: $1.07 -Revenue (Q2): $5.08 Bln vs. $5.37 Bln last year. -Revenue Change (Y-o-Y): -5.4%

-Guidance: Next quarter EPS guidance: $1.10 - $1.20 Full year EPS guidance: $4.20 - $4.40