HUTCHINSON, Kan. — Eaton Corporation says the numbers that will represent its second quarter earnings will be greatly impacted due to various factors. In preparation for its second quarter 2014 earnings release on July 29, Eaton announced that its numbers will not reflect its actual performance.
The gain from the recent aerospace divestitures to Safran, and the settlement amounts and other costs relating to settlements of the litigation with Meritor Inc., Triumph Group Inc., and related lawsuits, are expected to reduce second quarter operating earnings by approximately $0.70 per share, after tax. Excluding these unusual items, Eaton’s guidance for second quarter 2014 operating earnings per share is $1.10 to $1.12. This compares to the second quarter guidance of $1.05 to $1.15 originally announced on April 29.
Eaton continues to run its hydraulics facility in Hutchinson despite a near closure eight years ago. Other companies with ties to the area to make their quarterly reports include Siemens, August 30, Westar, August 7, and Kroger, September 11.