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Eaton Beats, Raises View

Shares climb nearly 4%.
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(ETN) - Get Eaton Corp. Plc Report

climbed nearly 4% Monday after the industrial manufacturer reported better-than-expected first-quarter results and boosted its full-year guidance.

The company earned $234 million, or $1.56 a share, up from $208 million, or $1.36 a share, a year earlier. The latest quarter's results included a tax gain of 7 cents a share.

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Analysts expected earnings of $1.41 a share, according to Thomson Financial.

Eaton's revenue climbed to $3.15 billion from $3 billion a year earlier, exceeding Wall Street's forecast of $3.04 billion.

For the full year, Eaton now sees earnings, before items, of $6.45 to $6.65 a share, up from an earlier forecast of $6.30 to $6.50 a share. Analysts, on average, project earnings of $6.22 a share.

For the second quarter, the company projects adjusted earnings of $1.40 to $1.50 a share, up from its earlier projection of $1.35 to $1.40 a share. Analysts expect earnings of $1.42 a share.

Shares of Eaton recently were up $2.95 to $88.11.