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DUBLIN - Power management company Eaton Corporation (NYSE:ETN), a $140.78 billion market cap leader in the electrical equipment industry, has reduced its greenhouse gas emissions by 35% since 2018, according to its 2024 Sustainability Report released Thursday. According to InvestingPro analysis, the company maintains strong financial health while pursuing its environmental goals.
The Dublin-based company also announced a new commitment to become net zero by 2050, a target validated by the Science Based Targets initiative (SBTi).
Eaton reported that 76% of its 2024 net sales came from products and solutions that contribute to sustainability. With trailing twelve-month revenues of $25.31 billion and a healthy gross profit margin of 38.45%, the company has invested $1.7 billion in research and development for sustainable solutions since 2020, an increase from $1.3 billion reported in 2023.
In waste management, Eaton has certified 83% of its manufacturing sites as zero waste to landfill, up from 79% in 2023, as it works toward its goal of 100% certification by 2030. The company has also certified 21% of manufacturing sites as zero water discharge, exceeding its goal to certify 10% of sites in water-stressed areas by 2030.
"We’re proud to demonstrate meaningful progress on our sustainability journey," said Harold Jones, chief sustainability officer and executive vice president at Eaton, according to the press release.
Eaton’s 2030 sustainability targets include reducing greenhouse gas emissions from operations by 50% compared to 2018 levels. The company reported nearly $25 billion in revenues for 2024 and serves customers in more than 160 countries. For investors seeking deeper insights, InvestingPro offers 16 additional investment tips and a comprehensive Pro Research Report analyzing Eaton’s market position and growth potential.
In other recent news, Eaton Corporation reported record first-quarter earnings, surpassing analyst expectations with adjusted earnings per share of $2.72 and revenue of $6.38 billion. The company also raised its full-year guidance, now projecting adjusted EPS of $11.80 to $12.20 for 2025. Eaton’s Electrical Americas and Aerospace segments each saw a 12% increase in sales, contributing to strong organic growth. In a strategic move, Eaton announced the acquisition of Ultra PCS Limited for $1.55 billion, aiming to expand its aerospace offerings. The transaction is expected to close in the first half of 2026, pending regulatory approvals. Additionally, Eaton secured contracts worth approximately $25 million for power upgrades at Hartsfield-Jackson Atlanta International Airport. The company also announced an $18.5 million expansion of its New York aerospace facility, which will create 77 new jobs. Analysts at Bernstein have rated Eaton as Outperform, citing anticipated growth in capital expenditures as a positive factor.
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