ETN Q2 2026 8-K/Exhibit 99 print: $8.531B sales, Electrical Americas $3.951B / $1.088B OP / 27.5% margin; adj EPS guide raised to $13.40–$13.60; 228 GW DC backlog not restated on fetched primaries.

Eaton Q2 2026 print

Generated by Grok Bot research on 2026-08-27. Parallel-cli was installed this pass but could not search (no API key). URL discovery via web search; numbers below are from fetched issuer/SEC pages only. Treat as raw material — review before promoting.

Summary

Leo’s report date is confirmed. Eaton furnished Q2 2026 results on 31 July 2026 for the quarter ended 30 June 2026, with a same-day call at 11 a.m. ET. Headline print on Exhibit 99.1: record sales $8.531B (narrative “$8.5 billion”), +21% YoY / +14% organic; diluted EPS $2.11; adjusted EPS $3.15. Electrical Americas: $3.951B sales, $1.088B OP, 27.5% margin. Electrical book-to-bill held at 1.2x on a rolling 12-month basis. Full-year 2026 adjusted EPS guide $13.40–$13.60 (release language: “raised”). Fetched Q2 8-K / 10-Q notes do not restate Q1’s 228 GW datacenter backlog or +240% DC orders — those stay open.

Findings

Report date and vehicle

Form 8-K, Item 2.02: Date of Report 31 July 2026. Press release for the quarter ended 30 June 2026 furnished as Exhibit 99.1. Signed Adam Wadecki, SVP and Controller, 31 July 2026. Commission file 000-54863; CIK 0001551182; NYSE: ETN.
Exhibit 99.1 and the IR HTML release: dateline DUBLIN — July 31, 2026. Conference call 11 a.m. United States Eastern time the same day at Eaton.com/investor under “Presentations.”
10-Q cover / SOX cert (search hit; cert page fetched in search): Form 10-Q for the quarter ended 30 June 2026, dated 31 July 2026, Paulo Ruiz Principal Executive Officer. Full 10-Q HTML was not fetched (SEC undeclared-automated-tool block).

Company print (Q2 2026 vs Q2 2025)

From Exhibit 99.1 statements of income; 10-Q R2 matches on every line below.

	Q2 2026	Q2 2025
Net sales	$8,531M	$7,028M
Diluted EPS	$2.11	$2.51
Adjusted EPS	$3.15	$2.95
Adjusted earnings	$1,228M	$1,155M
Net income to Eaton	$821M	$982M
Segment operating profit	$1,974M	$1,682M
Segment margins	23.1%	(release: down 80 bps YoY)
Operating cash flow	$1,127M	$918M
Free cash flow	$874M	$716M

Narrative on the same exhibit: sales “$8.5 billion, a record and up 21%”; mix 14% organic + 7% acquisitions.
Segment margins 23.1%, “10 basis points above the high end of the guidance range.”
FCF “up 23% and 22%” (OCF / FCF) vs Q2 2025 — those YoY % are issuer-stated, not recomputed here.
Adjusted EPS bridge (Q2 2026): GAAP $2.11 + $0.49 acquisition/divestiture + $0.05 restructuring + $0.50 intangibles = $3.15.
10-Q R2 adds dividend: $1.10 per ordinary share in Q2 2026 vs $1.04 in Q2 2025. Diluted shares 389.5M.

Electrical Americas (the AI-grid line)

From Exhibit 99.1 narrative + segment table and 10-Q R21 (OP matches).

Sales: table $3,951M (Q2 2025 $3,350M); narrative “record $4.0 billion, up 18% organically.”
Operating profit: table $1,088M (Q2 2025 $987M); narrative “record $1.1 billion, up 10%.”
Operating margin: issuer-stated 27.5%, “up 190 basis points sequentially.” Computed check: 1,088 / 3,951 = 27.5% (computed).
Twelve-month rolling average orders: +41% organically.
Total backlog at end of June: +33% vs June 2025 (Electrical Americas).
10-Q R9 split: Americas Products $1,144M / Systems $2,806M = $3,951M.

Vs Q1 2026 wiki priors (not Q2 facts): Q1 Americas was $3.6B / $922M / 25.6%. Q2 table is higher on all three; sequential +190 bps is on the Q2 primary.

Electrical sector orders, backlog, book-to-bill

From Exhibit 99.1:

Electrical sector total backlog +43% YoY (Q1 prior was +48% YoY — different print, not a restatement of the Q1 figure).
Electrical Americas backlog +33% vs June 2025 (Q1 prior was +44% vs March 2025).
Electrical Global backlog +103% vs June 2025; Global 12-month orders +33% organically.
Electrical businesses book-to-bill 1.2 on a rolling twelve-month basis (same level as Q1 prior).
Aerospace backlog +28% YoY; Aerospace book-to-bill 1.2.

10-Q R9 / R38 firm remaining-performance-obligation backlog (only orders customers are “firmly committed” to; open electrical/OEM/distributor orders historically subject to release are excluded): approximately $24.1 billion at 30 June 2026; ~71% targeted for delivery in the next twelve months. This $24.1B is not on the 8-K cover narrative.

Data-center orders / 228 GW — open on fetched Q2 primaries

CEO quote on Exhibit 99.1: “While data centers remain a key growth driver, we are benefiting from robust demand across our end markets.”
10-Q R21 lists “data centers and distributed IT” as a principal market for Electrical Americas / Electrical Global. No GW figure, no DC order %, no “228 GW.”
Q1 wiki priors (+240% DC orders; 32 GW US under construction, ~70% AI; 228 GW total DC backlog) do not appear on the fetched Q2 8-K, IR HTML, or 10-Q notes R2/R9/R21/R38.
Q2 analyst presentation is listed on Eaton IR presentations but was not fetched. Leave DC order growth and 228 GW open until that deck or the call transcript is pulled.

Boyd Thermal

From Exhibit 99.1 Note 3:

Closed 12 March 2026; $9.55 billion, net of cash acquired.
Reported in Electrical Global.
Q2 is “first full quarter post-acquisition”: Electrical Global sales +44% YoY = 18% organic + 25% Boyd Thermal + 1% FX.
Electrical Global sales $2,517M; OP $499M; margin 19.8%.
Q2 Boyd transaction costs $1M; first-half $36M (S&A).
Q2 also records $52 million of withholding taxes related to funding Boyd (in the acquisition/divestiture tax line).

Guidance (raised adj EPS vs Q1 prior $13.05–$13.50)

Exhibit 99.1 bullet: “raised adjusted earnings per share expected to be between $13.40 and $13.60, up 12% at the midpoint over 2025.” GAAP diluted EPS guide $10.36–$10.56.

Full year 2026:

Organic growth 11–13%
Segment margins 24.1–24.5%
EPS $10.36–$10.56
Adjusted EPS $13.40–$13.60

Q3 2026:

Organic 13.5–15.5%
Segment margins 24.6–25.0%
EPS $2.77–$2.87
Adjusted EPS $3.46–$3.56

Issuer FY26 adj-EPS bridge (same exhibit): GAAP $10.36–$10.56 + $1.08 acq/divestiture + $0.22 restructuring + $1.74 intangibles = $13.40–$13.60. 2025 adj EPS shown as $12.07.

Q1 2026 prior on etn.md was adj EPS $13.05–$13.50. Q2 midpoint $13.50 vs Q1 midpoint $13.275 = +$0.225 (computed vs prior, not a Q2-page number). Q1 complete PDF was not re-fetched this pass; the raise language is on the Q2 primary.

Other Q2 primary items (not a thesis call)

Exhibit 99.1: agreement to separate Mobility via Reverse Morris Trust with Dana; expected close Q1 2027; Eaton to receive ~$1.1B cash distribution; Eaton shareholders expected to own at least 50.1% of the combined company. Mobility Q2 sales $841M, OP $109M, margin 13.0%.
Balance sheet 30 June 2026 vs 31 Dec 2025 (same exhibit): total assets $56,181M vs $41,251M; long-term debt $18,509M vs $8,758M; goodwill $20,229M vs $15,769M; other intangibles $12,611M vs $5,054M — consistent with Boyd / Ultra PCS / related financing, not sized here.

Contradictions and open questions

228 GW / +240% DC orders / 32 GW under construction: Q1 wiki priors. Absent from fetched Q2 8-K, IR HTML, and 10-Q notes R2/R9/R21/R38. Not a contradiction — unrestated. Need the Q2 analyst presentation or call transcript.
Electrical Americas sales $4.0B (narrative) vs $3,951M (table): same exhibit; rounding, not a 10-Q tension.
Electrical sector backlog +43% (Q2) vs +48% (Q1 prior): different as-of dates (June vs March), not a restatement of the Q1 print.
Book-to-bill 1.2x: held vs Q1 prior. No new DC-specific book-to-bill on fetched pages.
10-Q vs 8-K: sales $8,531M, diluted EPS $2.11, Americas $3,951M / $1,088M OP all match. 10-Q adds $24.1B firm RPO backlog and the 71% / 12-month mix; 8-K uses segment % backlog growth, not the dollar RPO. No numeric fight on the overlapping lines.
Full 10-Q HTML and Q2 analyst presentation: unfetched. MD&A may have DC color that XBRL notes omit.
Q2 “complete” IR PDF (q2-20265-earnings-complete.pdf): search-indexed; download failed. Snippet text matched Exhibit 99.1; do not treat the PDF as independently read.

Provenance

Method: Grok Bot / parallel-cli installed but unauthenticated / web search for URLs / native X Generated: 2026-08-27

Web sources:

Eaton 8-K 31 Jul 2026 — Item 2.02, fetched
Exhibit 99.1 earnings release — full Q2 print, fetched
Eaton IR HTML release — same narrative as Exhibit 99, fetched
10-Q R2 income — $8,531M / $2.11 match, fetched
10-Q R9 revenue / RPO — $24.1B firm backlog, fetched
10-Q R21 segments — Americas OP $1,088M match, fetched
10-Q R38 backlog details — $24,100M / 71%, fetched
Eaton IR presentations page — lists Q2 2026 presentation; PDF not fetched
IR complete PDF (unfetched) — snippet only
Full 10-Q HTML (unfetched) — SEC bot-block

X sources: none found that are high-signal on this print. @eatoncorp (id 19032584): 0 posts 30 Jul–5 Aug 2026; 28–29 Jul posts are customer-support replies only (example). search_news returned other issuers’ earnings clusters, not ETN. Those clusters were not used.

Grokipedia: not used