Eaton 4Q sales up slightly
Eaton Corporation announced sales in its fiscal fourth quarter were $5.6 billion, up 1 percent over the same period in 2013.
Operating earnings for quarter, which exclude charges of $32 million to integrate recent acquisitions, were $602 million compared to $516 million in the fourth quarter of 2013.
For the full year, sales were a record $22.6 billion, 2 percent higher than in 2013. Excluding charges to integrate recent acquisitions, the legal settlements and the divestiture gain, operating earnings totaled a record $2.2 billion, up 13 percent over 2013. Operating earnings per share for 2014, excluding the same items, were a record $4.67, up 13 percent over 2013.
Fourth quarter sales for the Electrical Products segment were $1.82 billion, up 2 percent over the fourth quarter of 2013. Organic sales grew 5 percent, partially offset by 3 percent negative foreign exchange.
Fourth quarter sales for the Electrical Systems and Services segment were $1.65 billion, a slight increase over the fourth quarter of 2013. Organic sales grew 3 percent, almost completely offset by negative foreign exchange.
Hydraulics segment fourth quarter sales were $673 million, down 6 percent from the fourth quarter of 2013. Organic sales declined 2 percent and negative foreign exchange was 4 percent.
The Aerospace segment posted fourth quarter sales of $456 million, an increase of 2 percent over the fourth quarter of 2013. Organic growth was 9 percent, partially offset by 6 percent from the two businesses divested in 2014 and 1 percent from negative foreign exchange.
The Vehicle segment posted sales of $965 million in the fourth quarter, up 4 percent over the fourth quarter of 2013. Organic growth was 8 percent, partially offset by a 4 percent negative from foreign exchange.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
