By Nathan Allen

Eaton Corp. PLC (ETN) on Tuesday reported a 6.9% rise in first-quarter profit, and raised its guidance for 2019.

The Cleveland-based power-management company earned a quarterly profit of $522 million, or $1.23 a share, compared with $488 million, or $1.10 a share, for the same period last year.

Excluding items, Eaton reported an adjusted profit of $1.26 a share for the quarter, compared with $1.10 last year and analysts' forecasts of $1.25.

Sales rose to $5.31 billion from $5.25 billion, the company said.

The company expects adjusted earnings per share of between $5.72 and $6.02 for 2019. For the second quarter Eaton said it expects adjusted earnings per share of between $1.45 and $1.55.

Chief Executive Craig Arnold said the planned spinoff of the group's lighting business is proceeding according to plan.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 30, 2019 07:28 ET (11:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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