UPDATE: Eaton Reports 36% Surge In Q3 Earnings

Eaton Corp ETN reported a 36% rise in its Q3 earnings. Eaton reported its quarterly profit at $365 million, or $1.07 per share, up from $268 million, or $0.78 per share, in the year-ago period. Excluding other items, the company's earnings came in at $1.08 per share, versus the company's target of $1.03 to $1.13 per share. Eaton's sales climbed 15% to $4.12 billion, versus analysts' estimates of $4.18 billion. For the year, Eaton now projects operating profit of $3.95 to $4.05 per share, versus its prior forecast of $3.90 to $4.10 per share. For the current quarter, Eaton projects operating earnings in a range of $1.06 to $1.16 per share, versus analysts' estimates of $1.09 per share. Eaton shares gained 0.59% to $42.50 in pre-market trading.