Eaton lowers 2025 profit forecast, shares fall
The company, which makes electrical components and wiring, has been benefiting from strong demand for data center construction amid the global rush to adopt artificial intelligence.
However, sales in its vehicles segment, under which Eaton makes powertrain systems and components for both light and commercial vehicles, fell 8% to $663 million in the second quarter.
For the full year, Eaton expects organic sales to decline by 7% to 9% in the segment.
Eaton, whose customers include companies in the aerospace, vehicle, machine building and utility industries, expects 2025 adjusted profit between $11.97 and $12.17 per share, compared with an earlier forecast of $11.80 and $12.20.
It posted second-quarter adjusted profit of $2.95 per share, compared with analysts' average estimate of $2.92, according to data compiled by LSEG.
Total revenue for the quarter ended June was $7.03 billion, surpassing estimates of $6.91 billion.
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