Eaton Corp.'s Truck segment posted third quarter sales of of $322 million, up 27% from a year ago, and profits of $45 million compared to breakeven for the same period last year.
The company said NAFTA heavy duty truck production was up 67% for the quarter and medium duty production was up 11%. Eaton is projecting NAFTA heavy duty truck production of 174,000 units for 2002.
Combined revenues for all Eaton divisions totaled $1.83 billion, up 5% from third quarter 2001. Net income was $93 million compared to $40 million a year ago. The company had earlier predicted a modest recovery for its markets in fourth quarter but now says that has been delayed by the sluggish economic recovery. Eaton new expects little growth in the first half of next year, with stronger growth likely in the second half.