Eaton Corp plc

Company facts

Industry

Misc Industrial & Commercial Machinery & Equipment

Headquarters

Dublin

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

N/A

Filings on record

1,003+ filings

On EDGAR

CIK 1551182

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 0 positive, 8 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Massive debt-funded acquisitions, a planned spin-off, and a $410M IRS dispute.
  Notable

  • Boyd Thermal acquisition for $9.55B added $3.8B goodwill and $7.1B intangible assets; purchase price allocation is preliminary.
  • Eaton will spin off Mobility and merge it with Dana; Eaton shareholders get 50.1% of the combined company.
  • Eaton expects $1.1B cash distribution from the Mobility/Dana deal before closing, to repay debt.
  • Backlog was $26.2B at Sep 30, 2026, with 72% expected to ship in the next twelve months.
  • No share repurchases in first nine months of 2026 vs $1.66B in same period 2025; $9.0B authorization remains.
  Negative

  • IRS proposed $290M in additional taxes plus $120M in penalties for 2014-2016; Eaton will litigate in Tax Court.

• Management's Discussion (Item 2)

  MD&A with detailed segment results, large debt issuance, and acquisition spending.
  Notable

  • Issued $8.5B in U.S. notes and €1.2B in Euro notes in March 2026, net proceeds ~$9.8B.
  Negative

  • Gross margin fell to 34.7% in Q3 2026 from 38.3% in Q3 2025, hurt by 360 bps from inflation.

• Risk Factors (Item 1A)

  New risk factor: Mobility business separation and merger with Dana, with specific timeline and conditions.
  Notable

  • Definitive agreement signed June 10, 2026, to separate Mobility business and merge with Dana.
  • Expected closing in first four months of 2027, subject to Dana stockholder approval and regulatory clearances.
  Negative

  • No assurance the transaction will be tax-free to stockholders for U.S. federal income tax purposes.
  • Pursuit may divert management attention, hurt employee retention, and delay business opportunities.

What changed: Sep 2026 vs. Jun 2026

About 5% of ETN's Sep 2026 10-Q is new information. 12 paragraphs were added, 119 changed, and 12 removed. Below are the most important lines SECSift identified.

• Item 2 43
• Item 1 41
• Item 4 2
• Item 6 2
• Item 1A 1
• Item 5 1