Though profits came in line with expectations, Eaton Corporation plc's (ETN, Financial) shares dropped 4.7% in premarket trading Thursday following the power management company's third-quarter sales that somewhat fell short of Wall Street projections. Eaton reported earnings of $2.53 per share for the quarter ending Sept. 30, in line with analyst projections. Though it fell short of the $6.37 billion expectation, revenue increased 7.5% year over year to $6.34 billion.
Eaton adjusted its full-year profits estimate, now expecting earnings per share between $9.47 and $9.53, with adjusted earnings predicted between $10.75 and $10.81 per share, but quarterly income was below estimates. Among the leading producers of electrical systems, Eaton is positioned to gain from increased demand brought about by AI data centers and infrastructure supporting electric vehicle charging. Through Oct. 30, the company's stock has surged 73% in the previous year, demonstrating investor hope about Eaton's future in the changing power and energy sectors. Though income is still susceptible to changes in the larger economy and technical investments, the company's revised viewpoints to confidence in its primary growth sectors
