Eaton FY2026 Q3: sales up 28.0%, adjusted EPS $3.68 beats
Eaton beat on both lines in FY2026 Q3: sales of $8.95 billion rose 28.0% and adjusted EPS of $3.68 topped the $3.58 consensus. The catch is gross margin, down to 34.7% from 38.3% a year ago as acquisitions and capacity spending reshape the mix. Read the quarter as demand-led and margin-dilutive at the same time.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $2.77, up from $2.59, while adjusted EPS of $3.68 beat the $3.58 consensus by about 2.8%. The $0.91 gap between the two numbers is $0.62 of intangible amortization, $0.30 of acquisition and divestiture charges and a $0.01 restructuring gain. The amortization piece is the one to notice: it went from $0.26 per share a year ago to $0.62.
Sales of $8.95 billion rose 28.0% from $6.99 billion, made up of 19% organic growth, 8 points from acquisitions and 1 point from foreign exchange. Management said organic growth landed above the high end of guidance. Electrical Global did the heaviest lifting at $2.73 billion, up 58%, though 31 points of that was Boyd Thermal rather than organic demand.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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