For the second quarter Eaton reported earnings of $1.11, in line with analysts' expectations. Revenue grew 2.9% year-over-year to $5.76 billion for the quarter. Analysts surveyed by Thomson Reuters expected revenue of $5.78 billion for the quarter.
Looking to full-year 2014, Eaton now expects earnings of $4.50 to $4.70 a share, down from its previous estimates of $4.50 to $4.90.
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates EATON CORP PLC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation: "We rate EATON CORP PLC (ETN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow." ETN data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.