Eaton Corporation Shareholders Approve All Proposals at 2025 Annual Meeting

DUBLIN – Eaton Corporation plc (NYSE: ETN) announced the results of its 2025 Annual General Meeting held on April 23, 2025. Shareholders voted to approve all items presented, including director elections, auditor appointment, and proposals under Irish law.

All twelve director nominees were elected, with the strongest support going to Karenann Terrell and Andre Schulten, each receiving over 304 million votes in favor. The Company also received shareholder approval for Ernst & Young LLP to continue as independent auditor for 2025, with 322.9 million votes in favor.

The advisory vote on executive compensation was approved with 285.1 million votes supporting the Company’s pay practices.

Additionally, shareholders authorized:

The Board’s authority to issue shares under Irish law,

The Board’s authority to opt out of statutory pre-emption rights, and

The ability of Eaton and its subsidiaries to make overseas market purchases of its shares.

These outcomes underscore strong shareholder confidence in Eaton’s governance, strategy, and leadership as the Company continues to pursue sustainable growth and shareholder value.

Eaton Corporation reported record financial results for the fourth quarter and full year 2024, with strong growth in earnings, margins, orders, and backlog. Fourth-quarter earnings per share (EPS) reached $2.45, up 4% from the prior year, while adjusted EPS was $2.83, an 11% increase. The company’s segment margins hit a record 24.7%, improving by 190 basis points year-over-year. Sales for the quarter were $6.2 billion, a 5% increase, with organic sales up 6%. The Electrical Americas segment saw a 16% rise in orders and a book-to-bill ratio of 1.2 on a rolling twelve-month basis.

For the full year 2024, Eaton posted record sales of $24.9 billion, an 8% organic increase, and EPS of $9.50, with adjusted EPS at $10.80, up 18%. Operating cash flow and free cash flow hit record levels of $4.3 billion and $3.5 billion, respectively. The company provided strong 2025 guidance, projecting EPS between $10.60 and $11.00 and adjusted EPS between $11.80 and $12.20, with 7-9% organic growth and segment margins of 24.4-24.8%.

By segment, Electrical Americas sales grew 9% in Q4 to a record $2.9 billion, with operating profits up 20% and a backlog up 29% year-over-year. Electrical Global sales increased 4%, with operating margins at 17.7%. Aerospace sales rose 9%, while Vehicle and eMobility segments declined by 10% and 11%, respectively. Despite some headwinds, Eaton remains confident in its positioning amid megatrends in electrification and digitalization.