Eaton Corp. reported its 2016 first quarter fiscal results on Friday, led by sizable year-over-year decreases in sales and profit.
The company posted Q1 total sales of $4.8 billion, down 8 percent year-over-year, while profit fell 13 percent to $404 million.
Eaton's electrical products had Q1 sales of $1.7 billion, down 1 percent from a year earlier, while sales of electrical systems and services decreased 7 percent to $1.3 billion, with organic sales down 5 percent.
Eaton's industrial and commodity segments continued to slump during Q1. Hydraulics sales of $551 million were down 17 percent with organic sales down 14 percent, aerospace sales of $445 million dipped 4 percent (organic down 3 percent) and vehicle sales of $795 million were down 17 percent (organic down 13 percent).
