What is Eaton's latest dividend and current dividend yield?

What guidance did Eaton's management provide for the next earnings period?

What does Eaton do and what are its main business segments?

What is the revenue and EPS growth rate for Eaton year over year?

What factors drove the changes in Eaton's revenue and profit?

What is the market's earnings forecast for Eaton next quarter?

What is Eaton's gross profit margin?

Did Eaton beat or miss consensus estimates last quarter?

- **Record Growth**: Q3 revenue $7B (+7% organic), EPS $3.07 (+8%), driven by Electrical Americas (9%), Aerospace (13%), and Electrical Global (10%).
- **Game-Changing Acquisition**: $1.7B Boyd deal adds liquid cooling leadership, enabling $3M/MW data center solutions and 25% EBITDA margin.
- **Data Center Dominance**: Orders +7% LTM, data center sales +40% YoY, backlog $12B (+20% YoY). Q4 EPS guide $3.23-3.43 (18% YoY growth).
- **Margin Expansion**: Electrical Americas margin 30.3%, Aerospace 25.9%. 2025 EPS guidance $11.97-12.17 (+12% YoY).
- **Execution Challenges**: Vehicle/eMobility weakness offset by 2026 capex ramp for data center and aerospace growth.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue reached $7 billion, up 7% organically, driven by Electrical Americas (9%), Aerospace (13%), and Electrical Global (10%). Adjusted EPS of $3.07 grew 8%, at the high end of guidance.
- **Strategic Acquisitions**: Announced acquisition of Boyd's liquid cooling business for $1.7 billion in 2026 sales, targeting 25% EBITDA margin. This complements Eaton's data center portfolio, enabling end-to-end solutions from chip to grid.
- **Data Center Momentum**: Electrical Americas orders accelerated 7% LTM (up from 2% Q2), with data center sales up 40% YoY. Backlog hit $12 billion, up 20% YoY.
- **Aerospace Strength**: Orders grew 11% LTM, with defense aftermarket up 16%. Operating margin expanded 150bps to 25.9%.
- **2025 Guidance**: Reaffirmed organic growth 8.5-9.5%, EPS $11.97-12.17. Q4 EPS expected $3.23-3.43 (18% YoY growth).

**【CFO Financial Commentary】**
- **Segment Performance**: Electrical Americas delivered 30.3% operating margin, up 20bps YoY. Electrical Global margin improved 40bps to 19.1%. Aerospace margin expanded 150bps to 25.9%.
- **Challenges**: Vehicle segment down 9% YoY due to truck market weakness. eMobility revenue declined 19%.
- **Cash Flow**: Generated $1.2 billion free cash flow YTD, supporting M&A and shareholder returns.
- **Tax Rate**: Q4 tax rate expected 15%, down from 17.4% YoY, contributing to EPS growth.

**【Q&A Highlights】**
- **Boyd Synergies**: Eaton expects $500 million incremental content per megawatt in data centers, raising total addressable market to $3 million/MW. Boyd's 500 engineers and global footprint enhance customer intimacy.
- **Electrical Americas Execution**: Q3 missed midpoint due to delayed orders and residential weakness, but Q4 guide implies 17-18% growth. Inefficiencies from 6 new plant openings (~100bps margin drag) expected to resolve by 2026.
- **Aerospace Margin Path**: Target 27%+ by 2030 via supply chain optimization, manufacturing excellence, and portfolio rationalization. 2025 margin guidance raised 100bps to 24.1-24.5%.
- **CapEx Outlook**: 2026 CapEx to peak at ~$1.2 billion, supporting data center and aerospace growth. 2027+ returns to historical 3-4% of revenue range.


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