Page 1

EATON Powering Business Worldwide Date For Release Contact ● ● Eaton Communications Eaton Center Cleveland , OH 44122 tel : +1 ( 440 ) 523-4006 jennifertolhurst@eaton.com Eaton Reports Record Second Quarter 2021 Results , Raises 2021 Outlook ● August 3 , 2021 Immediately Jennifer Tolhurst , Media Relations , +1 ( 440 ) 523-4006 Yan Jin , Investor Relations , +1 ( 440 ) 523-7558 News Release Eaton Reports Second Quarter Earnings Per Share of $ 1.26 and Record Second Quarter Adjusted Earnings Per Share of $ 1.72 , Up 98 % Over the Second Quarter of 2020 Record Second Quarter Segment Margins of 18.6 % , 390 Basis Points Above the Second Quarter of 2020 Raising Adjusted Earnings Per Share Guidance for 2021 to $ 6.73 at the Midpoint , Up 37 % Over 2020 Raising Full Year 2021 Operating Cash Flow by $ 200 Million Above Previous Guidance at the Midpoint DUBLIN , Ireland ... Power management company Eaton Corporation plc ( NYSE : ETN ) today announced that earnings per share were $ 1.26 for the second quarter of 2021. Excluding charges of $ 0.25 per share related to intangible amortization , $ 0.18 per share related to acquisitions and divestitures , and $ 0.03 per share related to a multi - year restructuring program , adjusted earnings per share were a second quarter record of $ 1.72 , up 98 % over the second quarter of 2020 and up 19 % over the first quarter of 2021 . Sales in the second quarter of 2021 were $ 5.2 billion , up 35 % from the second quarter of 2020. The sales increase consisted of 27 % growth in organic sales , 5 % growth from acquisitions , and 3 % from positive currency translation . Craig Arnold , Eaton chairman and chief executive officer , said , " Building on the momentum from the first quarter , we achieved strong performance in the second quarter . We delivered