Electrical systems manufacturer Eaton Corporation (ETN) reported a dropped in third quarter profit and revenue on Wednesday, missing analyst expectations.
The Cleveland, Ohio based corporation posted third quarter net income of $345 million, or $1.02 per share, down 5% from $365 million, or $1.07 per share, a year ago. These earnings missed Wall Street analyst expectations by 2 cents per share, according to Thomson Reuters.
Revenue for ETN fell 4% to $3.95 billion.
Eaton Corp shares were down 54 cents, or -1.20%, in premarket trading on Wednesday.
Eaton Corporation (ETN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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