Eaton Corp. Warns Q2 Earnings Won't Meet Street Views
Eaton Corp (NYSE: ETN) shares moved down in after-hours trading after the company said second-quarter earnings excluding items will be below the Wall Street consensus.
The company expects adjusted earnings of $1.10 to $1.12 a share, versus analysts' average forecast of $1.18 a share.
Eaton, a power management company which posts July 29, also said charges excluded from adjusted earnings will reduce its operating earnings by $0.70 per share.
The charges stem from legal settlements with Meritor Inc., Triumph Group Inc., Eaton said.
In after-hours trading Eaton changed hands recently at $78.36, down 0.27 percent.
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