Eaton Corp. plc said its second-quarter normalized net income was 81 cents per share, compared with the S&P Capital IQ consensus estimate of $1.13 per share.
EPS declined 15.5% year over year from 96 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $381.3 million, a decrease of 17.2% from $460.3 million in the prior-year period.
The normalized profit margin fell to 7.1% from 8.0% in the year-earlier period.
Total revenue decreased 6.8% year over year to $5.37 billion from $5.77 billion, and total operating expenses declined 8.1% year over year to $4.72 billion from $5.14 billion.
Reported net income rose 210.5% from the prior-year period to $534.9 million, or $1.14 per share, from $172.3 million, or 36 cents per share.
