EarningsQ2 2026 Earnings Report
MX:ETN1N Q2 2026 EPS Results
Actual EPS$54.00
Consensus EPS$52.66
Beat/MissBeat by +$1.34
One Year Ago EPS$50.57
MX:ETN1N Q2 2026 Revenue Results
Actual Revenue$146.23B
Expected Revenue$139.80B
Beat/MissBeat by +$6.44B
YoY Revenue Growth+21.39%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
MX:ETN1N Upcoming Earnings
Eaton's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ETN1N Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based operational momentum: record revenue and EPS, significant organic growth (notably in electrical businesses and data centers), raised guidance, improved margins and cash flow, and successful integration of acquisitions like Boyd. Challenges were limited and largely transient (temporary price/cost pressure, prior ramp disruption) or small in magnitude (Mobility softness, IEEPA refund < $3M). Given the number and magnitude of positive developments versus relatively modest and manageable negatives, the overall tone is constructive and confidence-inspiring.Company Guidance
Record Revenue and EPS Beat
Reported record Q2 revenue of $8.5 billion (21% total growth, 14% organic) and adjusted EPS of $3.15, which exceeded guidance by $0.10 at the midpoint and was a Q2 record; H1 adjusted EPS of $5.96 also a first-half record.
Raised Full-Year Guidance
Management raised 2026 organic growth midpoint by 200 basis points to 12% and increased adjusted EPS midpoint by $0.22 to $13.50 (guidance range $13.40–$13.60); Boyd revenue raised to $1.8 billion for the full year ($1.5 billion in Eaton's books).
Strong Electrical Americas Execution and Margin Expansion
Electrical Americas delivered 18% organic growth with a margin of 27.5%, improving 190 basis points sequentially; revenue-per-day up ~25% since start of 2025 (16% year-over-year and +8% Q2 over Q1) driven by capacity ramp and >$1B in capacity investments.
Electrical Global Acceleration (Including Boyd)
Electrical Global total growth of 44% (organic growth 18% plus ~25% contribution from the Boyd acquisition); operating margin of 19.8% was ~1 point above expectations and price actions accelerated into Q3.
Data Center Demand & Backlog Strength
Data center revenues up ~65% in key electrical businesses; company book-to-bill at 1.2 (Americas 1.3, Aerospace 1.2); U.S. data center backlog reported at ~307 GW (15 years at 2025 build rates) and company electrical backlog up materially (electrical backlog +43% YoY; combined electrical backlog +103% including Boyd; organic backlog +54%).
Aerospace Momentum
Aerospace posted record quarterly sales with 7% organic growth, operating margin expansion of 60 basis points to 22.8%, and strong orders/backlog with book-to-bill increasing to 1.2; Ultra PCS acquisition added ~6 points of growth and was accretive to margins.
Strong Cash Flow and Operational Beat
Q2 record operating cash flow, up 23% year-over-year; management reported a $0.25 segment profit beat vs guidance (partially offset by $0.15 from higher tax rate) and cited operational execution as driver of the beat.
Strategic Portfolio Actions and M&A
Continued M&A and portfolio alignment (Fibrebond, Resilient Power, Boyd, Ultra PCS), separation of Mobility to redeploy capital, and investments in grid-to-chip capabilities intended to drive higher-growth, higher-margin opportunities.
MX:ETN1N Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed