Diversified manufacturer Eaton reported an 8 percent rise in quarterly profit on Monday and raised its full-year forecast for the second time this year, saying U.S. markets were growing faster than it had expected three months ago.
The company's net earnings rose to $311 million, or 91 cents per share, compared with $287 million, or 83 cents per share, a year ago. Excluding acquisition charges, Eaton earned 92 cents per share. Sales rose 4 percent to $3.96 billion, compared with Wall Street estimates of $4.01 billion.
Speaking about Eaton’s results in detail, CEO Alexander Cutler said his company is starting to see attractive gains in its U.S. non-residential construction segments. He appeared on Monday’s “Mad Money” broadcast. Watch the video to see host Jim Cramer’s full interview.
—Reuters contributed to this report
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