Eaton Posts Record Q3 Sales of $8.95 Billion, Up 28.0%, and Raises Organic Growth Outlook

Published November 3, 2026 at 9:12 AM EST

Eaton posted record third-quarter sales of $8.95 billion, up 28.0%, and record adjusted EPS of $3.68, up 19.9%, as Electrical Americas orders rose 39%. The power management company raised its full-year organic growth outlook to 13% to 15%.

Sales rose from $6.99 billion a year earlier, according to the earnings release Eaton filed with an 8-K on Tuesday. Organic growth contributed 19 percentage points, acquisitions 8 and currency 1. Net income rose 6.7% to $1.08 billion and diluted EPS increased 6.9% to $2.77 from $2.59. Adjusted EPS, which excludes $0.62 of intangible amortization and $0.30 of acquisition and divestiture charges, rose from $3.07.

Segment margin reached a record 25.3%, compared with 25.0% a year earlier, based on IDD's calculation from segment results. Operating cash flow was $1.31 billion and free cash flow was $1.03 billion.

Electrical leads the way

Electrical Americas sales climbed 22.3% to a record $4.17 billion, with organic growth of 22%, and operating profit rose 20.2% to $1.24 billion. Its margin was 29.8%, up 230 basis points from the second quarter. Backlog in the segment grew 33%.

Electrical Global sales jumped 58.2% to $2.73 billion, with 27 points of organic growth and 31 points from the Boyd Thermal acquisition. Operating profit rose 74.5% to $576 million for a 21.1% margin. Orders rose 51% and backlog grew 121%. Across the electrical businesses, the book-to-bill ratio was 1.2.

Aerospace and Mobility

Aerospace sales rose 10.8% to $1.20 billion and operating profit increased 6.4% to $298 million, though its margin fell 100 basis points to 24.9%. Aerospace orders rose 20% and backlog grew 33%. Mobility sales increased 9.9% to $852 million and operating profit jumped 39.0% to $146 million, a 17.2% margin.

Eaton also agreed to acquire COL Group during the quarter.

Guidance

For 2026, Eaton now expects:

Organic growth of 13% to 15%
Segment margins of 24.1% to 24.5%
Diluted EPS of $10.39 to $10.49
Adjusted EPS of $13.70 to $13.80

For the fourth quarter, it guided to organic growth of 13% to 15%, segment margins of 25.4% to 25.8%, diluted EPS of $3.28 to $3.38 and adjusted EPS of $4.05 to $4.15.

By the numbers

Sales: $8.95 billion, up 28.0%
Adjusted EPS: $3.68, up 19.9%
Diluted EPS: $2.77, up 6.9%
Segment margin: 25.3%, a record
Electrical Americas orders: up 39%
Free cash flow: $1.03 billion

Sources

Eaton Form 8-K with third-quarter 2026 earnings release, filed Nov. 3, 2026 (accession 0001551182-26-000037)

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Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.