Eaton Supports Coast Guard Cutters - Analyst Blog
14 Novembre 2011 - 3:45PM
Zacks
Industrial manufacturer
Eaton Corporation (ETN) received a $20 million
contract from the U.S. Coast Guard to maintain electrical
infrastructure on 12 Coast Guard cutters. These cutters are
stationed in Coast Guard bases in San Diego, Seattle, San Francisco
and Hawaii.
These Coast Guard cutters are
vessels which are 65 feet (19.8 meter) or more in length and have
accommodations for crew on board. These vehicles are assigned for
conducting law enforcement and defense operations, marine science
and search and rescue missions and coastal surveillance.
Per the contract, Eaton will work
jointly with Integrated Marine Services and provide preventive
maintenance as well as circuit breaker retrofits and any additional
electrical engineering service if required. Eaton’s services will
be commissioned for 5 ½ years. However, the Coast Guard has set a
target to complete the project in two years.
Eaton has expertise in servicing
the Navy and helps in improving efficiency, safety and reliability
of combat vehicles. The present contract is a continuation of
Eaton’s traditional role in providing support and maintenance
services and would aid the Coast Guards to improve the
load-carrying capacity, system protection and monitoring of its
vessels.
Eaton's electrical business has
performed well in the third quarter 2011, with revenues at its
Electrical Americas segment climbing 11% year over year
boosted by 11% growth in end markets and 21% in order bookings. The
Electrical Rest of the World segment grew sharply 7% year
over year.
Eaton projects operating earnings
per share in the range of $3.95 – $4.05. The Zacks Consensus
Estimate for 2011 is at the mid-point of the guided range at $3.99
per share.
Eaton Corporation currently retains
a Zacks #3 Rank, which translates into a short-term Hold rating.
The company competes with ITT Corporation (ITT)
and Parker Hannifin Corporation (PH).
Cleveland, Ohio-based diversified
power management company Eaton Corporation is a leading supplier of
power accessories in the aerospace industry and has customers
spanning 150 countries.
EATON CORP (ETN): Free Stock Analysis Report
ITT CORP (ITT): Free Stock Analysis Report
PARKER HANNIFIN (PH): Free Stock Analysis Report
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