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Eaton profit misses consensus by 31.5% in Q2

Eaton Corp. plc said its normalized net income for the second quarter came to 79 cents per share, compared with the S&P Capital IQ consensus estimate of $1.16 per share.

EPS rose 5.3% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $355.9 million, an increase from $345.3 million in the year-earlier period.

The normalized profit margin increased to 6.9% from 6.8% in the year-earlier period.

Total revenue increased year over year to $5.13 billion from $5.08 billion, and total operating expenses totaled $4.50 billion, compared with $4.46 billion in the year-earlier period.

Reported net income increased 5.2% year over year to $515.9 million, or $1.15 per share, from $490.4 million, or $1.07 per share.