The 2020 Mid-Year Economic Update_long

Eaton Sales Down 7% in 2Q

Year-to-date sales decreased 5.9 percent year-over-year.

Diversified industrial manufacturer Eaton Corp. (NYSE: ETN), Dublin, Ireland, reported sales for the second quarter of $5.4 billion, a 7 percent decrease over the same period a year ago. Profit increased to $535 million, compared to $171 million the prior year.

Electrical products sales were down 3 percent year-over-year to $1.8 billion and sales for electrical systems and services were down 8 percent to $1.5 billion.

Hydraulics sales were $643 million, down 18 percent compared to the prior year quarter, while Aerospace sales decreased 7 percent to $454 million and vehicle sales decreased 4 percent to $989 million.

For the first six months, sales were $10.6 billion, down 5.9 percent over the same period a year ago. Profit increased 64.1 percent to $1 billion.

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