>>> Eaton beats by $0.03, misses on revs; guides Q2 EPS below consensus; lowers

Eaton beats by $0.03, misses on revs; guides Q2 EPS below consensus; lowers FY15 EPS mostly on FX, in-line

Reports Q1 (Mar) earnings of $1.01 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.98; revenues fell 4.9% year/year to $5.22 bln vs the $5.29 bln consensus.

"Our 5 percent sales decline in the first quarter consisted of 1 percent organic growth offset by negative 6 percent from currency translation."

Co issues downside guidance for Q2, sees EPS of $1.10-1.20, excluding non-recurring items, vs. $1.20 Capital IQ Consensus.

Co issues in-line guidance for FY15, lowers EPS to $4.65-4.95, excluding non-recurring items, from $4.75-5.05 vs. $4.82 Capital IQ Consensus.