July 31 (Reuters) - Eaton forecast its annual profit
above Wall Street expectations on Friday, citing steady demand
for its electrical components amid a rapid surge in AI data
centers, sending its shares up 5% in premarket trading.
Apart from data centers, rising demand from power grids and
domestic manufacturing has boosted orders for electrical
equipment makers such as Eaton, prompting them to expand
capacity and invest in infrastructure.
* "While data centers remain a key growth driver, we are
benefiting from robust demand across our end markets," CEO Paulo
Ruiz said.
* The supplier of electrical components and wiring across
sectors such as aerospace, automobiles and utilities posted
second-quarter adjusted profit of $3.15 per share, compared with
analysts' estimates of $3.07 per share.
* Total quarterly revenue rose 21% to $8.53 billion, beating
estimates of $8.13 billion.
* The Dublin, Ireland-based company expects 2026 adjusted
profit between $13.4 and $13.6 per share, the midpoint of which
is above analysts' expectations of $13.24 per share, according
to data compiled by LSEG.