Reverse Morris Trust Separation of Mobility Business
On June 10, 2026, Eaton entered into definitive agreements with Dana Incorporated to separate its Mobility business and combine it with Dana in a Reverse Morris Trust transaction expected to close in Q1 2027, yielding an expected $1.1B cash distribution to Eaton prior to completion.
Major Acquisitions of Boyd Thermal and Ultra PCS
Eaton completed significant acquisitions to strengthen its power management and aerospace capabilities, including Ultra PCS for $1.53B in January 2026 and Boyd Thermal for $9.55B in March 2026, contributing 7% to consolidated sales growth in Q2 FY2026.
Electrical Segment Demand and Massive Backlog Growth
Electrical Americas net sales grew 18% to $3.95B with backlog expanding 33% YoY to $15.18B (1.3x book-to-bill), while Electrical Global sales jumped 44% to $2.52B with backlog up 103% to $3.60B, propelled by robust data center and machine OEM demand.