← Who reports today · Industrials
How Eaton Corporation (ETN) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · quarter ended 06/30/2026 · reported 07/31/2026
Eaton Corporation plc is an American multinational power management company, with a primary administrative center in Beachwood, Ohio. · Wikipedia
More about the company
Eaton has more than 85,000 employees and sells products to customers in more than 175 countries.
Key growth driver: Electrical Global — the fastest-growing revenue line: $2,517, +44% y/y. · by the Q2 2026 report
How does Eaton make money?
Eaton brought in $8.53 billion of revenue in Q2 2026, up 21.4% year over year. The largest source was Electrical Americas: $3.95 billion, or 46% of the total, followed by Electrical Global ($2.52B, 30%) and Aerospace ($1.22B, 14%); other lines add the remaining 10%. Net income for the quarter was $823 million, down 16.2% year over year.
Revenue by source, Q2 2026
- Electrical Americas$3.95B · 46% · +17.9%
- Electrical Global$2.52B · 30% · +43.6%
- Aerospace$1.22B · 14% · +13.1%
- Mobility$841M · 10% · −0.5%
Shares of $8.53B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is ETN’s next earnings date?
Tuesday, November 3, 2026estimated
Eaton Corporation (ETN) has not confirmed the date yet; Nov 3, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $3.53 (8 analysts), vs $3.07 in the same quarter last year.
What time does ETN report? Usually before market open: the last 4 results releases reached the SEC at 7:00 am, 7:00 am, 7:00 am, 7:01 am ET.
Last report: Jul 31, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$8,531
+21.4%
Gross profit
$2,855
+9.9%
33.5% margin, was 36.9%
Operating income
$1,392
+10.8%
16.3% margin
Net income
$823
−16.2%
$2.11 diluted EPS
Verdict: sales grew 21.4% to $8.5B — but almost none of it reached shareholders. The growth was bought: Boyd Thermal ($9.55B) and Ultra PCS ($1.53B) lifted revenue, doubled intangible amortization, tripled net interest expense to $201M and pushed the tax rate to 28.1%, so net income fell 16.2% and diluted EPS dropped to $2.11 from $2.51.
Acquisitions in the last 15 months: Fibrebond $1.43B (Apr 2025, Electrical Americas), Resilient $86M (Aug 2025), Ultra PCS $1.53B (Jan 2026, Aerospace), Boyd Thermal $9.55B (Mar 2026, Electrical Global). Mobility is planned for spin-off in Q1 2027.
Source and notation
* marks non-cash / ≈ estimated. Source: Eaton 10-Q for the quarter ended June 30, 2026 (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- net income fell 16% y/y in Q2 2026
- debt load increased (Q2 2026)
Most likely because cost of products sold grew 28.1%, faster than the 21.4% sales increase, so gross margin slipped to 33.5% from 36.9%; the effective tax rate jumped to 28.1% from 17.2%, on more income in higher-tax jurisdictions and withholding tax on funding…. Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗Most likely because net interest expense nearly tripled, from $71M to $201M: the debt raised in March 2026 to pay for Boyd Thermal; electrical Global almost caught up with Electrical Americas: sales +43.6% y/y; intangible amortization from acquisitions doubled to $255M and sits in corporate, not in segment profit. Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗ETN earnings history: past report dates
| Jul 31, 2026 Fri | 7:00 ambefore market open | Jun 30, 2026 | $8.5B+21% y/y | $2.11−16% y/y |
| May 5, 2026 Tue | 7:00 ambefore market open | Mar 31, 2026 | $7.5B+17% y/y | $2.22−9% y/y |
| Feb 3, 2026 Tue | 7:00 ambefore market open | Dec 31, 2025 | ≈$7.1B+13% y/y | ≈$2.90+18% y/y |
| Nov 4, 2025 Tue | 7:01 ambefore market open | Sep 30, 2025 | $7.0B+10% y/y | $2.59+2% y/y |
| Aug 5, 2025 Tue | 7:01 ambefore market open | Jun 30, 2025 | $7.0B+11% y/y | $2.51+1% y/y |
| May 2, 2025 Fri | 7:00 ambefore market open | Mar 31, 2025 | $6.4B+7% y/y | $2.45+20% y/y |
| Jan 31, 2025 Fri | 7:00 ambefore market open | Dec 31, 2024 | ≈$6.2B+5% y/y | ≈$2.45+4% y/y |
| Oct 31, 2024 Thu | 7:00 ambefore market open | Sep 30, 2024 | $6.3B+8% y/y | $2.53+14% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Eaton Corporation: 5-year financials
| 2025 | 27,448 | 4,087 | 3,553 | 1,626 |
| 2024 | 24,878 | 3,794 | 3,519 | 1,500 |
| 2023 | 23,196 | 3,218 | 2,867 | 1,379 |
| 2022 | 20,752 | 2,462 | 1,935 | 1,299 |
| 2021 | 19,628 | 2,144 | 1,588 | 1,219 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 20262025 10-K cover: a single share class — Ordinary shares $0.01 (NYSE: ETN); other securities are bonds. sec.gov ↗
- Feb 2026Diluted share count −3.2% over 2020–2025; buybacks of $2.49B in 2024 and $1.86B in 2025 (XBRL). data.sec.gov ↗
- Feb 2026Per-share dividend: $2.92 (2020), $3.24 (2022), $3.76 (2024), $4.16 (2025) — raised every year (XBRL). data.sec.gov ↗
- Feb 2026The 2025 10-K lists no shareholder disclosure suits or SEC cases; litigation is environmental and product-related (Notes 11–12). sec.gov ↗
Scoring: 2.0 with no deductions = 2.0 (single share class, shares −3.2% over 5 years, dividend raised every year, no shareholder suits or SEC cases)
- Share classes
- Single class — ordinary shares of Eaton Corp plc (Ireland), $0.01, NYSE.
- Dilution
- Diluted shares −3.2% over 2020–2025; SBC share issuance ≈$106M in 2025 (0.4% of revenue); buybacks of $2.5B (2024), $1.9B (2025).
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- Per-share dividend raised every year: $2.92 (2020) → $4.16 (2025).
- Lawsuits & regulators
- Item 3 refers to Notes 11–12 (environmental, product, routine disputes); no shareholder disclosure suits or SEC cases.
- Related parties
- No material related-party transactions in the 2026 proxy.
How the score works · checked as of Sep 2026
Eaton Corporation (ETN) earnings: FAQ
How does Eaton make money?
Eaton brought in $8.53 billion of revenue in Q2 2026, up 21.4% year over year. The largest source was Electrical Americas: $3.95 billion, or 46% of the total, followed by Electrical Global ($2.52B, 30%) and Aerospace ($1.22B, 14%); other lines add the remaining 10%. Net income for the quarter was $823 million, down 16.2% year over year.
When is ETN's next earnings date?
Eaton Corporation (ETN) has not confirmed the date yet; Nov 3, 2026 is an estimate based on its past reporting schedule.
What time does ETN report earnings?
Eaton Corporation usually reports before market open: its latest results release was filed with the SEC at 7:00 am ET on Jul 31, 2026.
When did ETN last report earnings?
Eaton Corporation reported Q2 2026 results on Jul 31, 2026.
What is the EPS estimate for ETN's next earnings?
The consensus EPS forecast is $3.53 (8 analysts), vs $3.07 in the same quarter last year.
Where can I find Eaton Corporation's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to ETN's filings; this page breaks the latest report down in a Sankey chart.
What was ETN's net income in Q2 2026?
Eaton Corporation reported net income of $823M for Q2 2026 (−16.2% year over year), under US GAAP.
Does Eaton Corporation pay dividends?
Yes. In 2025, Eaton Corporation paid $1,626M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 09/01/2026. How we make the breakdowns · Report an error
More reports: FDX · Q4 FY26 · GD · Q2 2026 · GE · Q2 2026 · GEV · Q2 2026 · HWM · Q2 2026 · ITW · Q2 2026 · JCI · FQ3 2026 · LMT · Q2 2026 · MMM · Q2 2026 · NOC · Q2 2026 · all reports