Eaton announces 1Q earnings

UNDATED — Eaton Corp posted a rise in first-quarter profit that just topped analysts’ estimates on Tuesday, helped by lower-than-expected costs, but forecast second-quarter earnings that appeared to lag Wall Street’s target.
First-quarter net income rose 16 percent to $439 million, or 92 cents per share, from $378 million, or 79 cents, a year ago.
Hydraulics segment sales were $782 million, an increase of 3 percent over the first quarter of 2013. Operating profits in the first quarter were $108 million. Excluding acquisition integration charges of $4 million, operating profits were $112 million, an increase of 24 percent.