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Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
Eaton Corporation
Eaton Corporation (ETN) investor relations material
Eaton Corporation Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary31 Jul, 2026
Executive summary
Achieved record Q2 2026 sales of $8.53 billion, up 21% year-over-year, with 14% organic growth and 7% from acquisitions.
Adjusted EPS reached $3.15, a Q2 record, exceeding guidance, with segment margins at 23.1%, both above expectations.
Robust order momentum and record backlogs across Electrical Americas, Electrical Global, and Aerospace segments, with book-to-bill ratios at 1.2–1.3.
Announced the planned separation of the Mobility business via a Reverse Morris Trust with Dana, expected to close in Q1 2027 and deliver a $1.1B cash distribution.
Major acquisitions (Boyd Thermal, Ultra PCS, Fibrebond, Resilient Power) and portfolio transformation drive growth and margin expansion.
Financial highlights
Adjusted EPS for Q2 2026 was $3.15 (up 7% YoY), and $5.96 for the first half, both records; net income attributable to shareholders was $821 million, down from $982 million in Q2 2025.
Segment operating profit rose 17% to $1.97B; segment margins were 23.1%, above guidance but down 80 bps year-over-year.
Operating cash flow was $1.1 billion for Q2 2026 (up 23% YoY), and $1.63 billion for the first half; free cash flow was $874 million for Q2 2026.
Gross profit margin decreased to 33.5% in Q2 2026 from 37.0% in Q2 2025, mainly due to inflation and increased amortization.
Effective tax rate increased to 28.1% in Q2 2026, driven by higher income in high-tax jurisdictions and acquisition-related taxes.
Outlook and guidance
Full-year 2026 organic growth expected at 11–13%, with segment margins of 24.1–24.5% and adjusted EPS guidance raised to $13.40–$13.60.
Q3 2026 organic growth guidance: 13.5–15.5%, segment margins 24.6–25.0%, adjusted EPS $3.46–$3.56.
Free cash flow for FY2026 expected between $3.9B and $4.3B; capex planned at $1.15B.
No share repurchases planned for 2026 due to the Boyd Thermal acquisition; quarterly dividends to continue.
Strong backlog and end-market demand provide visibility and confidence for 2026 and 2027.
Grid to chip impact on data center order growth
Mobility separation timeline and expected impact
Boyd Thermal impact on Electrical Global sales
Strategic rationale for the Mobility RMT deal
Boyd Thermal impact on Electrical Global backlog
Drivers of Electrical Americas margin expansion
Strategic rationale for Mobility RMT separation
Mature year benefits from restructuring program
Data center backlog conversion timing details
Four technical blocks for 800V DC leadership
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Latest events from Eaton Corporation
- Aims for 6–9% organic growth and 28% margins by 2030, led by innovation and megatrends.ETN
Investor Day 20259 Jul 2026 - Record 2024 results and strong 2025 outlook driven by data center and megaproject growth.ETNQ4 20248 Jul 2026
- Record Q1 2025 growth and raised outlook, driven by Electrical, Aerospace, and data center demand.ETNQ1 202530 Jun 2026
- Record order momentum and strategic acquisitions position for strong growth and margin gains in 2026.ETNUBS’s 2025 Global Technology and AI Conference30 Jun 2026
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- Director elections, auditor approval, and key capital structure proposals up for shareholder vote.ETNProxy Filing13 Mar 2026
- Proxy covers director elections, pay, auditor, share issuance, and strong governance practices.ETNProxy Filing13 Mar 2026
- Data center growth and technology shifts drive demand for efficient, integrated power and cooling.ETNBarclays 43rd Annual Industrial Select Conference17 Feb 2026
- Record Q4 results, strong 2026 outlook, and Mobility spin-off highlight robust momentum.ETNQ4 20253 Feb 2026
Next Eaton Corporation earnings date
Q3 20263 Nov, 2026
Eaton Corporation
Next Eaton Corporation earnings date
Q3 20263 Nov, 2026
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