Eaton Corp. Profits Third Quarter

 

Overall, profits jumped 38 percent from $193 million a year ago in the third quarter to $268 million this quarter. For 2011, Eaton Corp. is looking for global industrial production to increase by 5.1 percent more - and its sales to continue to increase with the global economy.
Courtesy of Eaton Corp.

CLEVELAND, Ohio – Evidence shows that the economy is improving -- slowly here but rapidly in the developing world. Global manufacturer Eaton Corp. of Cleveland reported significant increases in sales and profits for the third quarter compared with a year ago. Other American manufacturers should follow suit and look to expand for profitable overseas markets.

Eaton manufactures industrial components and equipment across the nation and around the world for the aerospace, automotive, truck manufacturing and electrical industries.

Eaton reported total sales of $3.6 billion for July through September -- an increase of 18 percent over last year. Sales in its hydraulics division were up 40 percent compared with the third quarter of 2009, while electrical components sales were up 15 percent in the Americas and 9 percent in the rest of the world.

“The economic outlook is playing out much as we've anticipated,” said CEO and chairman Alexander Cutler. “While we're not prepared to provide a specific forecast today, we are increasingly confident that the market for virtually every one of our six segments will be stronger in 2011.”

– Courtesy of Cleveland Plain Dealer