Electrical and Aerospace backlogs remain robust and growing Q2 Earnings Preview Earnings Estimate Eaton recently spent $1 billion to expand its productive capacity and also enacted a recent restructuring program to reduce fixed-oosts and increase efficiency. I expect these two initiatives to continue to drive margin expansion going forward (although not at the same pace exhibited in Q1). Eaton currently trades with a P/E=34.6x, significantly above its historical level and a premium to the S&P500 (28.2x): Re ...