Filing Flows › Eaton (ETN) › Q1 2025
Eaton (ETN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
Eaton (ETN) reported revenue of $6.4B for the first quarter 2025 (Q1 2025), +7% from a year earlier and +2% from the quarter before. Operating margin was 18.5%, net earnings $965M (15.1% of revenue).
Eaton, Q1 2025: revenue $6.4B (+7% year over year), operating margin 18.5%, net earnings $965M, operating cash flow $238M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.4B | +2% | +7% |
| Operating profit | $1.2B | +0.9% | +18% |
| Net earnings | $965M | -0.6% | +17% |
| Operating cash flow | $238M | -85% | -50% |
| Free cash flow | $91.0M | — | — |
What changed
Revenue was $6.4B in Q1 2025, up 7% year over year and up 2% from the previous quarter. Electrical Americas was the largest line at 47% of revenue. Electrical Americas added $0.32B year over year (up 12%), 74% of the total change. Vehicle declined 15%.
Operating profit was $1.2B, a 18.5% margin (up 1.6 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 17% margin then. Total costs grew 5% against revenue growth of 7%. Net earnings were $1.0B, up 17% year over year. The effective tax rate was 18.0%.
Operating cash flow was $0.24B (down 50% year over year), 25% of net earnings. Non-cash charges added back $0.23B of depreciation and amortization. Working capital and other items used $1.0B. After capital expenditures for property, plant and equipment ($0.15B), free cash flow as the company reports it was $0.09B.
Questions
What was Eaton's revenue in the first quarter 2025?
Eaton (ETN) reported revenue of $6.4B for the first quarter 2025 (Q1 2025), +7% from a year earlier and +2% from the quarter before.
Was Eaton profitable in the first quarter 2025?
Operating profit was $1.2B (18.5% of revenue) and net earnings $965M.
Source: Eaton 10-Q on SEC EDGAR.