This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Eaton Reports Fourth Quarter Net Income Of $0.46 Per Share

Stocks in this article: ETN

For the full year 2012, sales were $16.3 billion, 2 percent higher than 2011. Net income was $1.22 billion, and net income per share was $3.46. Operating earnings in 2012 totaled $1.38 billion, an increase of 2 percent compared to 2011. Operating earnings per share for 2012 were $3.94 versus $3.96 in 2011.

“Our full year 2012 sales increase of just 2 percent reflects the impact of continued uncertainty about economic growth in all major regions of the world,” said Cutler. “Looking back at 2012, while weak economic conditions impacted our sales growth, with the acquisition of Cooper, 2012 will go down in Eaton’s history as a year of immense transformation.

“We were able to obtain very attractive financing on the debt we issued in connection with the Cooper acquisition,” said Cutler. “We issued $4.9 billion of term debt, with maturities from 3 to 30 years, at an average rate of 2.74 percent. We also used $1.67 billion of our bridge facility to close the transaction. As of last Friday, we have repaid the bridge financing.

“Our board will address the first quarter dividend at its meeting later this month,” said Cutler.

“In 2013, we anticipate our revenues will grow approximately 42 percent,” said Cutler. “Acquisitions completed in 2012 are expected to add $6 billion of revenues.

“We expect that 2013 operating earnings per share will set a record,” said Cutler. “We estimate that first quarter operating earnings per share, which exclude an estimated $33 million of charges to integrate our recent acquisitions, will be between $0.70 and $0.80 per share. Note that this guidance includes a charge of $0.06 to complete the Cooper inventory purchase price adjustment.

“For the full year 2013, we estimate that operating earnings per share, which exclude an estimated $145 million of charges to integrate our recent acquisitions, will be between $4.05 and $4.45 per share,” said Cutler. “Based on the midpoint of this guidance, our operating earnings per share in 2013 will grow 8 percent.”

2 of 12

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,656.77 +299.90 1.73%
S&P 500 2,045.29 +32.40 1.61%
NASDAQ 4,722.2680 +77.9560 1.68%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs