Eaton Corporation plc announced record fourth quarter 2024 results, with adjusted earnings per share (EPS) of $2.83, an 11% increase over the fourth quarter of 2023. Sales reached a record $6.2 billion, up 5% from the prior year, driven by 6% organic sales growth. Segment margins were a quarterly record of 24.7%, a 190-basis point improvement.
For the full year 2024, sales were a record $24.9 billion, up 7% from 2023, with 8% organic growth. Adjusted EPS for the full year was a record $10.80, an 18% increase over 2023. Operating cash flow for 2024 was $4.3 billion and free cash flow was $3.5 billion, both setting new records.
Eaton issued optimistic guidance for full-year 2025, forecasting adjusted EPS between $11.80 and $12.20, representing an 11% growth at the midpoint. The company anticipates organic growth of 7-9% and segment margins of 24.4-24.8%, driven by strong demand in markets like data centers and utilities.
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