Filing Flows › Eaton (ETN) › Q2 2026 › vs Q2 2025
Eaton (ETN) Q2 2026 vs Q2 2025 (year over year)
Eaton's revenue rose $1.5B (+21%) from $7.0B in Q2 2025 to $8.5B in Q2 2026. The biggest changes: Electrical Global +$764M (+44%); Electrical Americas +$601M (+18%); Aerospace +$142M (+13%). Operating margin 13.4% against 16.9% (-3.5 pts).
Eaton, Q2 2026: revenue $8.5B (+21% year over year), operating margin 13.4%, net earnings $823M, operating cash flow $1.1B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 13.4% | 16.9% | -3.5 pts |
| Net margin | 9.6% | 14.0% | -4.3 pts |
| Free cash flow margin | 10.2% | 10.2% | +0.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Electrical Americas | $4.0B | $3.4B | $601M | +18% |
| Electrical Global | $2.5B | $1.8B | $764M | +44% |
| Aerospace | $1.2B | $1.1B | $142M | +13% |
| Mobility | $841M | $845M | −$4.0M | -0.5% |
| Revenue | $8.5B | $7.0B | $1.5B | +21% |
| Operating profit | $1.1B | $1.2B | −$42.0M | -4% |
| Costs & expenses | $7.4B | $5.8B | $1.5B | +26% |
| Pre-tax earnings | $1.1B | $1.2B | −$42.0M | -4% |
| Cost of revenue | $5.7B | $4.4B | $1.2B | +28% |
| Research & development | $227M | $192M | $35.0M | +18% |
| SG&A | $1.2B | $1.1B | $87.0M | +8% |
| Other operating costs | $248M | $70.0M | $178M | +254% |
| Net earnings | $823M | $982M | −$159M | -16% |
| Income tax | $321M | $203M | $118M | +58% |
| Depreciation & amortization | $399M | $261M | $138M | +53% |
| Working capital & other | $95.0M | $325M | −$230M | -71% |
| Operating cash flow | $1.1B | $918M | $209M | +23% |
| Free cash flow (company-reported) | $874M | $716M | $158M | +22% |
| Capital expenditures for property, plant and equipment | $253M | $202M | $51.0M | +25% |
Questions
How much did Eaton's revenue grow year over year in Q2 2026?
Eaton's revenue rose $1.5B (+21%) from $7.0B in Q2 2025 to $8.5B in Q2 2026.
What drove Eaton's revenue change in Q2 2026?
Electrical Global +$764M (+44%); Electrical Americas +$601M (+18%); Aerospace +$142M (+13%).