Gold prices steady ahead of Fed decision, Trump’s tariff deadline
DUBLIN - Eaton (NYSE:ETN), a global power management company valued at $112 billion, has announced the appointment of Sergio Letelier as Senior Vice President of Corporate Development, Planning, and Strategy, effective March 17, 2025. According to InvestingPro data, Eaton stands as a prominent player in the Electrical Equipment industry, with analysts maintaining a bullish outlook on the stock. Letelier will lead the company’s corporate strategy and global mergers and acquisitions activities, reporting to Olivier Leonetti, the Executive Vice President and Chief Financial Officer, and will also become a member of the executive leadership team.
Letelier’s move to Eaton follows a significant tenure at Hewlett Packard Enterprise, where he was the Senior Vice President and Head of Corporate Development. His career at Hewlett Packard spanned over two decades, during which he held various leadership roles, including Vice President of Corporate Securities and M&A, and Vice President of Transformation Execution and Governance.
Leonetti praised Letelier’s extensive global experience and successful track record, expressing confidence in his ability to enhance Eaton’s portfolio management and contribute to the company’s profitable growth.
Eaton, with a history dating back to 1911, focuses on various markets, including data centers, utilities, industrial, commercial, and aerospace sectors. The company emphasizes sustainable operations and power management solutions that address current and future challenges. In 2024, Eaton reported nearly $25 billion in revenue and serves customers across more than 160 countries.
The information in this article is based on a press release statement from Eaton.
In other recent news, Eaton Corporation reported fourth-quarter 2024 earnings, with adjusted earnings per share of $2.83, slightly surpassing Wall Street expectations by 1%. Despite net sales of $6.2 billion being marginally lower than anticipated, the company maintained robust profitability, particularly driven by the performance of its Electrical Americas segment. RBC Capital Markets and Bernstein SocGen Group have both adjusted their price targets for Eaton, with RBC lowering it to $376 and Bernstein to $355, while maintaining Outperform ratings. Analysts highlighted Eaton’s strong data center business, noting a 45% year-over-year revenue increase and an expectation of continued strong growth in 2025. Eaton’s order book and backlog have shown significant growth, with trailing twelve-month orders and backlogs up by 65% and 50% year-over-year, respectively. Oppenheimer maintained its Perform rating, citing Eaton’s robust order growth and backlog data, with Electrical Americas orders up 16% year-over-year. The company’s backlog in the Electrical sector reached $11.8 billion, marking a 27% increase from the previous year. Analysts also noted that Eaton is well-positioned to benefit from large-scale infrastructure projects in North America, contributing to what RBC Capital refers to as the broader Electrical Supercycle.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.