Eaton Corporation (ETN) official guidance

We are reaffirming our cash flow expectations for the year, and we have provided a guidance for Q2 on this page.

For cash flow, our guidance is $3.9 billion-$4.3 billion, up 14% at the midpoint.

Adjusted earnings per share between $13.40 and $13.60

We expect full year EPS to be between $13.05 and $13.50, $13.28 at the midpoint.

•Adjusted earnings per share between $13.05 and $13.50

For 2026, our adjusted EPS is expected to be between $13 and $13.50, $13.25 at the midpoint, and up 10% from 2025.

•Adjusted earnings per share between $13.00 and $13.50

We expect progress as we enter Q2 and momentum Q3 and Q4, which will set up the business to meet or exceed our margin target of 32% by 2030.

I'm confident that Eaton has the right actions in place to execute for growth in the Americas and meet our 2026 margin guidance of 30% at the midpoint in 2026 and a 32% margin target by 2030.

As you remember, in February, when we discussed, we committed to a 10% midpoint growth for Electrical Americas. Now we are committing to 13% growth.

Organic growth of 11-13%

Following a strong quarter, we now expect total company organic growth to be between 9%-11%, up 200 basis points at the midpoint, with strength in Electrical Americas and Electrical Global, which both increased 300 basis points at the midpoint.

•Organic growth of 9-11%

•Organic growth of 7-9%

The cooling business is on track to record $1.7 billion or better in revenue in the full year of 2026, of which about $1.4 billion will be included in Eaton financials for the year, with margins generally in line with the prior expectations.

We remain confident in Boyd's strong position to meet or exceed the 2026 revenues of $1.7 billion.

we expect it to generate $1.7 billion in sales next year at an Adjusted EBITDA margin of 25%.

•Earnings per share between $10.88 and $11.33

•Earnings per share between $11.57 and $12.07

For segment margins, our guidance range of 24.1%-24.5% is 50 basis points lower than the prior guide, primarily due to Electrical Americas' Q1 performance.

•Segment margins of 24.1-24.5%

For segment margins, our guidance range is 24.6%-25%. That's up 30 basis points over 2025 at the midpoint, driven by improvements in each of our businesses.

•Segment margins of 24.6-25.0%

The Company expects mature year benefits of $375 million when the multi-year program is fully implemented.

The Company expects mature year benefits of $375 million when the multi-year program is fully implemented.

The Company expects mature year benefits of $375 million when the multi-year program is fully implemented.

This restructuring program is expected to be completed in 2026 and is expected to incur additional expenses related to workforce reductions of $78 million and plant closing and other costs of $24 million, resulting in total estimated charges of $475 million for the entire program.

This restructuring program is expected to be completed in 2026 and is expected to incur additional expenses related to workforce reductions of $102 million and plant closing and other costs of $38 million, resulting in total estimated charges of $475 million for the entire program.

This restructuring program is expected to be completed in 2026 and is expected to incur additional expenses related to workforce reductions of $118 million and plant closing and other costs of $57 million, resulting in total estimated charges of $475 million for the entire program.