Jim Cramer Talks Confidence With Eaton Corp CEO

Eaton Corp plc (NYSE: ETN) recently posted mixed first-quarter results. EPS for the quarter came at $1.01, beating analysts' estimates of $0.98. However, revenue came below analysts' estimates of $5.30 billion at $5.20 billion.

Eaton's CEO Alexander "Sandy" Cutler was on CNBC's "Mad Money" to discuss the company's earnings with Jim Cramer.

Recovery In Third Quarter

"Many companies – and we too – experienced a pretty slow January and February, particularly here in the U.S.," Cutler said. "We were really pleased to see it recover in the [...] third month of the quarter.

"We have obviously been completing the integration of Cooper. We are really delighted with the front-end synergies we have experienced, the positive response from our customers."

Related Link: Eaton Q1 Profit Tops Views

He continued, "And I think that was evidenced as we saw March come together in a very strong way up some 12 to 13 percent in bookings in the month of March over last year in our electrical businesses."

'Record Results This Year'

Cutler was asked why Eaton Corp didn't guided its projections lower like many other industrials company. He replied, "Our view was that really the only substantial change we saw was really in FX, which should have been a little more negative this year, but pretty minor adjustments [...] really down to where consensus was.

"We remain confident that our combination of new product introductions, the $150 million of additional synergies we are getting from the Cooper acquisition this year, plus $35 million of benefits from restructuring we did in our industrial segment last year – and then just the darn good cost control that our team has exercised around the world – are going to allow us to continue to drive record results this year," Cutler concluded confidently.

 
Image Credit: By Tulane Public Relations [CC BY 2.0], via Wikimedia Commons