Eaton Corp. plc said its fourth-quarter normalized net income came to 76 cents per share, compared with the S&P Capital IQ consensus estimate of $1.10 per share.
In the prior-year period, the per-share result came in at a profit of 76 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $346.0 million, a decrease from $353.6 million in the year-earlier period.
The normalized profit margin increased to 7.1% from 7.0% in the year-earlier period.
Total revenue declined year over year to $4.87 billion from $5.06 billion, and total operating expenses decreased year over year to $4.33 billion from $4.44 billion.
Reported net income fell on an annual basis to $507.0 million, or $1.12 per share, from $528.2 million, or $1.14 per share.
For the year, the company's normalized net income totaled $2.91 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.20.
EPS was $2.93 in the prior year.
Normalized net income was $1.33 billion, a decrease from $1.37 billion in the prior year.
Full-year total revenue fell from the prior-year period to $19.75 billion from $20.86 billion, and total operating expenses decreased on an annual basis to $17.49 billion from $18.47 billion.
The company said reported net income fell year over year to $1.92 billion, or $4.21 per share, in the full year, from $1.98 billion, or $4.23 per share.
