April 30 - Eaton raised its full-year profit

forecast, after beating analysts' expectations for the first

quarter on Tuesday, betting on resilient demand for industrial

equipment amid the U.S. government's efforts to boost

manufacturing.

Large commercial projects associated with the Biden

government's efforts to boost manufacturing and infrastructure

in the United States benefited companies such as Eaton, which

makes electrical components, including those used in data

centers.

The government's infrastructure push covers about 40,000

projects, including airports, bridges, roads, construction of

recharging stations for electric vehicles and improving access

to high-speed internet.

"Growth drivers like increased project activity tied to

megatrends, reindustrialization and infrastructure spending

continue to drive demand for Eaton's solutions across our

markets," said CEO Craig Arnold.

Eaton expects its 2024 adjusted profit to be between $10.20

and $10.60 per share, compared with its prior forecast range of

$9.95 to $10.35 per share.

The Dublin, Ireland-based company posted adjusted profit of

$2.40 per share for the first quarter, versus analysts' average

estimate of $2.29 per share, according to LSEG data.

Its total revenue was $5.94 billion for the quarter ended

March 31, up 8% from a year earlier. Analysts, on average,

expected $5.91 billion.