Eaton Corp. announced net income per share of $0.97 for the second quarter of 2011, an increase of 47% over the $0.66 earned in the second quarter of 2010.
Sales in the second quarter were $4.09 billion, 21% above the second quarter of 2010. Net income in the second quarter was $336 million compared to $226 million in 2010.
The Truck segment posted record quarterly sales of $673 million in the second quarter, up 37% compared to 2010.
Truck production in the second quarter was up 27%, with U.S. markets up 53% and non-U.S. markets up 5%. The segment reported operating profits of $120 million. Eaton earned a 17.8% profit margin in the segment this quarter.
The company expects the NAFTA Class 8 market to total 265,000 units in 2011.
Eaton's net income in both periods included charges for integration of acquisitions. Before these acquisition integration charges, operating earnings per share in the second quarter of 2011 were $0.97 compared to $0.68 per share in 2010, an increase of 43%. Operating earnings in the second quarter were $338 million compared to $232 million in 2010.
Eaton Second Quarter Earnings Per Share Increase 47%
Eaton Corp. announced net income per share of $0.97 for the second quarter of 2011, an increase of 47% over the $0.66 earned in the second quarter of 2010
More Aftermarket
Phillips Opens High-Tech Distribution Center for Faster Parts Delivery
Phillips Industries’ new Cincinnati-area distribution center is now shipping aftermarket trucking parts nationwide, aiming to speed up delivery times for customers.
Read More →
Volvo to Sponsor America’s Road Team for 2025
Volvo Trucks announced that it is extending its exclusive sponsorship of America’s Road Team for 2025.
Read More →
Webb to Start Taking Orders for UltraSet Pre-Adjusted Wheel Hubs
Webb, which recently acquired the Stemco Trifecta pre-adjusted hub program, will soon start taking orders for its replacement pre-assembled hub, the UltraSet.
Read More →
All-Makes Automatic Brake Adjusters, Ride Height Control Valves from Midland
SAF-Holland has added automatic brake adjusters and ride height control valves to its Midland All-Makes Program.
Read More →
ZF Aftermarket Expands [pro]Academy Training
ZF Aftermarket said it is expanding its ZF [pro]Academy training and will be adding 40 new modules this year.
Read More →
Eaton Adds Remanufactured Advantage Line of Clutches
Eaton has added its Advantage clutches to its remanufactured product line. The clutches feature a unique strap drive intermediate plate designed to allow customers to choose the latest OE specification
Read More →
ConMet Acquires TruckLabs, the Creator of TruckWings
Commercial truck and trailer parts provider ConMet acquired TruckLabs, the company that created TruckWings, an aerodynamic device that attaches to truck cabs and deploys to close the gap between truck and trailer. TruckLabs now operates as a subsidiary of ConMet.
Read More →
Diesel Laptops Releases Fault-Code-to-Part-Number Tool
Diesel Laptops said its Truck Fault Codes allows users to input a fault code and immediately identify and order the parts needed to complete repair work.
Read More →
Heavy Duty Parts and Labor Costs Dropped in Q2
A benchmarking report from TMC and Decisiv reveals good news for fleets as heavy-duty parts and labor costs dropped in the second quarter of 2023.
Read More →
Platform Science, Uptake Partner on Predictive Maintenance Platform
Platform Science and Uptake have formed a partnership aimed at bringing a comprehensive predictive maintenance program to market for U.S. truck fleets.
Read More →