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Eaton (ETN) to Report Q2 Earnings: What's in the Offing?
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Eaton Corporation (ETN - Free Report) is scheduled to release second-quarter 2020 earnings on Jul 29, before market open. This power management company delivered an earnings surprise of 2.8% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors at Play
Eaton implemented cost-management measures in the second quarter, which is likely to have offset volume declines due to weakness in end-markets served caused by the novel coronavirus outbreak.
Eaton expects margin to be down 30% in the second quarter due to the global economic crisis caused by the pandemic. Lower shares outstanding are likely to have had a positive impact on the bottom line.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Eaton this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is +1.61%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can also consider the following players from the same industry that too have the right combination of elements to post an earnings beat this time around.
SPX FLOW (FLOW - Free Report) has an Earnings ESP of +66.67% and a Zacks Rank #2.
Rexnord Corporation has an Earnings ESP of +19.35% and a Zacks Rank #3.
Regal Beloit Corporation (RBC - Free Report) has an Earnings ESP of +9.23% and a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Eaton (ETN) to Report Q2 Earnings: What's in the Offing?
Eaton Corporation (ETN - Free Report) is scheduled to release second-quarter 2020 earnings on Jul 29, before market open. This power management company delivered an earnings surprise of 2.8% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors at Play
Eaton implemented cost-management measures in the second quarter, which is likely to have offset volume declines due to weakness in end-markets served caused by the novel coronavirus outbreak.
Eaton expects margin to be down 30% in the second quarter due to the global economic crisis caused by the pandemic. Lower shares outstanding are likely to have had a positive impact on the bottom line.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Eaton this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Eaton Corporation, PLC Price and EPS Surprise
Eaton Corporation, PLC price-eps-surprise | Eaton Corporation, PLC Quote
Earnings ESP: The company’s Earnings ESP is +1.61%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Eaton carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Investors can also consider the following players from the same industry that too have the right combination of elements to post an earnings beat this time around.
SPX FLOW (FLOW - Free Report) has an Earnings ESP of +66.67% and a Zacks Rank #2.
Rexnord Corporation has an Earnings ESP of +19.35% and a Zacks Rank #3.
Regal Beloit Corporation (RBC - Free Report) has an Earnings ESP of +9.23% and a Zacks Rank #2.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>