Eaton Q4 Profit Surges, Operating EPS Tops View - Quick Facts

(RTTNews) - Power management company Eaton Corporation plc (ETN) posted sharply higher fourth-quarter net income attributable to ordinary shareholders of $479 million or $1.00 per share, from $179 million or $0.46 per share, last year.

Excluding acquisition integration charges and transaction costs (after-tax), operating earnings totaled $516 million, or $1.08 per share in the recent quarter. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $1.06 for the quarter. Analysts' estimates typically exclude one-time items.

The firm clocked net sales of $5.53 billion in the quarter, a 28 percent increase, versus the prior-year figure of $4.33 billion, whereas 20 analysts estimated revenues of $5.55 billion.

For the year 2014, the firm sees operating earnings per share, excluding an estimated $168 million of charges to integrate its recent acquisitions, to be between $4.50 and $4.90 per share. Analysts project annual earnings of $4.88 per share.

This forecast does not factor in any gain from the divestiture of the two aerospace units. Based on the $4.70 midpoint of this guidance, Eaton said its operating earnings per share in 2014 would grow by 14 percent.