US Stock Market Move | Eaton Corp. Plc (ETN.US) rose more than 7% as Q3 results beat expectations.

On Tuesday, Eaton Corp. Plc (ETN.US) rose more than 7% to $393.72. On the news front, on November 3, intelligent power management company Eaton Corp. Plc released its third-quarter 2026 results. Third-quarter sales hit a record high of $8.947 billion (estimated at $8.506 billion), up 28% year-over-year, including organic growth of 19%. Adjusted earnings per share set a record at $3.68, up from $3.07 previously; diluted earnings per share were $2.77. Driven by sales growth and capacity investments, segment margins rose to a record 25.3%, exceeding the expected guidance. Operating cash flow was $1.31 billion, and free cash flow was $1.03 billion. Over the past twelve months, rolling organic orders grew 39% in Electrical Americas, 51% in Electrical Global, and 20% in Aerospace, with order amounts in all three business segments hitting record highs. Total backlog grew 46% in the Electrical business and 33% in the Aerospace business. In addition, Eaton Corp. Plc has agreed to acquire COL Group for EUR810 million (approximately $921 million) to expand its power distribution capabilities in Europe. Looking ahead to the full year 2026, Eaton Corp. Plc expects organic growth of 13%-15%, segment margins of 24.1%-24.5%, and adjusted earnings per share of $13.70-$13.80. For the fourth quarter of 2026, the company's guidance includes: organic growth of 13%-15%, segment margins of 25.4%-25.8%, and adjusted earnings per share of $4.05-$4.15.