Filing Flows › Eaton (ETN) › Q1 2026
Eaton (ETN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Eaton (ETN) reported revenue of $7.5B for the first quarter 2026 (Q1 2026), +17% from a year earlier and +6% from the quarter before. Operating margin was 14.9%, net earnings $868M (11.6% of revenue).
Eaton, Q1 2026: revenue $7.5B (+17% year over year), operating margin 14.9%, net earnings $868M, operating cash flow $507M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.5B | +6% | +17% |
| Operating profit | $1.1B | -15% | -6% |
| Net earnings | $868M | -23% | -10% |
| Operating cash flow | $507M | -74% | +113% |
| Free cash flow | $314M | — | +245% |
What changed
Revenue was $7.5B in Q1 2026, up 17% year over year and up 6% from the previous quarter. Electrical Americas was the largest line at 48% of revenue. Electrical Americas added $0.59B year over year (up 20%), 55% of the total change. Mobility declined 2%.
Operating profit was $1.1B, a 14.9% margin (down 3.6 points year over year). Operating profit fell $0.07B even though revenue rose $1.1B versus Q1 2025, so costs grew faster than sales. Total costs grew 22% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+171%). Net earnings were $0.87B, down 10% year over year. The effective tax rate was 21.7%.
Operating cash flow was $0.51B (up 113% year over year), 58% of net earnings. Non-cash charges added back $0.27B of depreciation and amortization. Working capital and other items used $0.63B. After capital expenditures for property, plant and equipment ($0.19B), free cash flow as the company reports it was $0.31B.
Questions
What was Eaton's revenue in the first quarter 2026?
Eaton (ETN) reported revenue of $7.5B for the first quarter 2026 (Q1 2026), +17% from a year earlier and +6% from the quarter before.
Was Eaton profitable in the first quarter 2026?
Operating profit was $1.1B (14.9% of revenue) and net earnings $868M.
Source: Eaton 10-Q on SEC EDGAR.