Eaton Corp ( ETN ) reported third-quarter financial results before the market open on Thursday. Here’s a look at the key metrics from the quarter.

Q3 Revenue: $6.35 billion, versus estimates of $6.37 billion

Q3 EPS: $2.84, versus estimates of $2.80

Eaton reported 8% organic revenue growth in the quarter. The company highlighted strong backlog growth of 25% in Electrical and 14% in Aerospace.

Operating cash flow was $1.3 billion and free cash flow was $1.1 billion in the quarter, up 15% and 23%, respectively, compared to the prior year’s quarter.

“Our business and teams performed well in the quarter. We executed effectively, resulting in order acceleration and further backlog growth in an environment of continuing strong demand,” said Craig Arnold, chairman and CEO of Eaton.

“As a result, we’re confident in our ability to close the year strong with raised earnings guidance and expect this positive momentum to continue into 2025.”

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Guidance: Eaton expects fourth-quarter organic growth of 6% to 7%. The company anticipates adjusted earnings of $2.78 to $2.84 per share, versus estimates of $2.81 per share.

Eaton also raised its full-year earnings outlook. The company expects full-year adjusted earnings to be in the range of $10.75 to $10.81 per share, up from a prior outlook of $10.65 to $10.75 per share. Analysts are looking for full-year earnings of $10.67 per share, according to Benzinga Pro.

Management will hold a conference call to discuss these results with analysts and investors at 11 a.m. ET.

ETN Price Action: Eaton shares were down 5.92% at $322.26 at the time of publication, according to Benzinga Pro.