Eaton Drops 3.37% Despite 7.25% Revenue Surge

On April 10, 2025, Eaton's stock price dropped by 3.37% in pre-market trading.

Keybanc maintained its "overweight" rating for Eaton, with a new price target of $325.00. This decision comes after Eaton released its 2024 annual report, which showed a 7.25% increase in revenue to $24.88 billion and a net income of $3.798 billion, with earnings per share at $9.54. The company, founded in 1911, is a global leader in power management solutions, serving various industries including data centers, utilities, and aerospace. Eaton's focus on sustainability and technological innovation has positioned it well for future growth, particularly in the context of global infrastructure investments and the transition to clean energy.

Eaton's commitment to quality and sustainability is evident in its vehicle division, which has been focusing on electric vehicle (EV) technology. The company's new energy vehicle division has been expanding its production capabilities, particularly in China, where it has established a global production base for new energy transmissions. This strategic move is aimed at capturing the growing market for electric heavy-duty trucks, which saw a significant increase in sales in 2024. Eaton's products, which range from 10-ton medium-duty vehicles to 60-ton heavy-duty mining trucks, are designed to meet the diverse needs of both domestic and international markets. The company's long-term strategy of investing in research and development, combined with its global production network, has allowed it to maintain a competitive edge in the rapidly evolving EV market.