ETN · Earnings call · 2026Q3T · Full report

AI Data Center Demand

Eaton Corp plc · 2026-11-03 · Importance 75 · Surprise 64 · In source text

Data center sales increased 65% year over year, marking the ninth consecutive quarter of growth above 35%, and orders rose 101%. Data center orders on a rolling 12-month basis were over 100% higher, while announced projects reached 366 GW compared with 307 GW at the prior earnings-call update and installed capacity of 50 GW. Electrical Americas data center sales grew 54%, and Electrical Global data center sales grew 97%; management said data centers and distributed IT together with commercial aerospace represent roughly one-third of sales and are expected to grow at strong double-digit rates.

Key facts

• Data center orders on a 12-month rolling basis were over 100%, and data center revenues were up 65%.
• Eaton data center sales grew 65%, marking the ninth consecutive quarter with growth above 35%; orders were up 101%.
• Eaton's long-term plan assumed 17% data center growth, while year-to-date data center growth was 60%.
• Eaton's data center opportunity has a long runway beyond 2028 and 2029, with a large backlog expected to provide multiple years of work.
• Data center projects announced to date amounted to 366 GW, versus 307 GW at Eaton's prior earnings-call update, compared with 50 GW of installed capacity.

Impact estimates