Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
April 29, 2014 02:00 AM

Eaton reports first quarter growth

Rubber & Plastics News Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    DUBLIN—Eaton Corp.'s net income and overall sales increased for the first quarter 2014.

    The firm reported net income at $441 million, up from $380 million in 2013, and sales at $5.49 billion, up about 3 percent compared to 2013.

    “Our first quarter results are a solid start to the year, coming in slightly above the midpoint of our range in spite of the negative impact from the severe winter weather we encountered in North America,” said Chairman and CEO Alexander M. Cutler.

    Cutler said the firm entered 2014 expecting modest global economic growth of 3 percent, a figure Eaton continues to forecast for the rest of 2014.

    Eaton said it expects to incur restructuring costs of $40 million during the second quarter of 2014 to enhance efficiencies in the industrial sector—its hydraulics, aerospace and vehicle business segments. Cutler said the firm anticipates savings of $35 million to be generated in 2015 through the initiative.

    The hydraulics segment reported sales of $782 million, a 3 percent increase over 2013 with operating profits at $108 million. Excluding integration charges of $4 million, operating profits increased 24 percent compared to 2013.

    “The hydraulics markets in the first quarter of 2014 grew modestly over the first quarter of 2013,” Cutler said. “Our bookings in the quarter increased 9 percent over the first quarter of 2013.”

    Related Articles
    Eaton hose units thrive under new structure
    Eaton to train distributors on new system
    Eaton to sell two businesses to Safran
    Eaton Corp. reports fourth quarter growth
    Eaton Corp. to pay $500 million in settlement with joint venture
    Sales up, net income drops for Eaton Corp.
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    3M to exit manufacturing of PFAS by end of 2025
    2
    Pros and Cons: A look at 4 emerging sustainable carbon black methods
    3
    Illinois attorney general sues 14 firms over PFAS contamination
    4
    No alternative in sight: Why Michelin is emphasizing sustainability of hevea
    5
    Teknor Apex uses 'world's first' bio-based plastic substitute in new TPE
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION