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Eaton Lifts 2018 Profit View

Power management company Eaton Corporation plc (ETN) said that it now expect 2018 earnings per share to be between $5.20 and $5.40, up $0.10 from its prior guidance, representing at the midpoint a 14 percent increase over 2017, excluding the gain on the formation of the Eaton Cummins JV and the income arising from the new tax bill in 2017. Analysts polled by Thomson Reuters expect the company to report earnings of $5.25 per share for 2018. Analysts' estimates typically exclude special items.

The company noted that its full-year outlook for cash generation is unchanged from its prior forecast.

For the third quarter of 2018, the company anticipates earnings per share to be between $1.35 and $1.45. Analysts expect earnings of $1.40 per share for the third-quarter.

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