Electrical components and power systems company Eaton delivered mixed third-quarter results Thursday morning, and its stock paid the price. Revenue increased over 8% year over year to $6.35 billion, slightly below the $6.37 billion the Street was looking for, according to analyst estimates compiled by LSEG.
Commentary Looking ahead to next year, data centers should continue to have relentless demand for more power, Aerospace will bounce back once the Boeing strike ends, and everything from commercial buildings to residential homes and vehicles is becoming more electrified. These secular trends are not going away anytime soon. Eaton provided details on North American megaprojects, which management defines as those projects with a value of $1 billion or more.