Filing Flows › Eaton (ETN) › Q2 2025
Eaton (ETN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Eaton (ETN) reported revenue of $7.0B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +10% from the quarter before. Operating margin was 16.9%, net earnings $982M (14.0% of revenue).
Eaton, Q2 2025: revenue $7.0B (+11% year over year), operating margin 16.9%, net earnings $982M, operating cash flow $918M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0B | +10% | +11% |
| Operating profit | $1.2B | +0.8% | -0.8% |
| Net earnings | $982M | +2% | -1% |
| Operating cash flow | $918M | +286% | -3% |
| Free cash flow | $716M | — | — |
What changed
Revenue was $7.0B in Q2 2025, up 11% year over year and up 10% from the previous quarter. Electrical Americas was the largest line at 48% of revenue. Electrical Americas added $0.47B year over year (up 16%), 70% of the total change. Vehicle declined 8%.
Operating profit was $1.2B, a 16.9% margin (down 1.9 points year over year). Operating profit fell $0.01B even though revenue rose $0.68B versus a year earlier, so costs grew faster than sales. Total costs grew 13% against revenue growth of 11%. The fastest-growing cost line was SG&A (+13%). Net earnings were $1.0B, down 1% year over year. The effective tax rate was 17.1%.
Operating cash flow was $0.92B (down 3% year over year), 93% of net earnings. Non-cash charges added back $0.26B of depreciation and amortization. Working capital and other items used $0.33B. After capital expenditures for property, plant and equipment ($0.20B), free cash flow as the company reports it was $0.72B.
Questions
What was Eaton's revenue in the second quarter 2025?
Eaton (ETN) reported revenue of $7.0B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +10% from the quarter before.
Was Eaton profitable in the second quarter 2025?
Operating profit was $1.2B (16.9% of revenue) and net earnings $982M.
Source: Eaton 10-Q on SEC EDGAR.