Eaton Refiles 2025 Results With Vehicle And eMobility Merged Into One $3.1 Billion Mobility Segment
The 8-K recasts segment data only; Eaton says it is not a restatement, and the company still plans to spin off Mobility.
Eaton filed an 8-K on Friday that recasts its 2025 annual segment data so the legacy Vehicle and eMobility units appear as one Mobility segment, the business it plans to spin off. The company says the filing is "not an amendment to or restatement of the 2025 Form 10-K."
What the recast shows
In the exhibit, Mobility had 2025 net sales of $3,109 million, made up of $2,505 million from Vehicle and $604 million from eMobility. Mobility sales were $3,451 million in 2024 and $3,601 million in 2023.
The company-wide numbers do not change. Net sales for 2025 were $27,448 million, net income attributable to ordinary shareholders was $4,087 million, and diluted earnings per share were $10.45, against $9.50 in 2024.
The exhibit also reports total backlog of approximately $19.8 billion at December 31, 2025, with approximately 69% of it targeted for delivery in the next twelve months. Mobility accounts for 12 thousand of Eaton's 97 thousand employees.
Why Eaton refiled
Eaton said it re-segmented in the first quarter of 2026 after reorganizing its businesses. The filing explains that SEC rules require prior-period financial statements to be recast when a company prepares a new registration, proxy or information statement after an accounting change like this one.
Ernst & Young's audit report is carried over unchanged except for a dual date: February 26, 2026, except for Notes 1, 3, 6, 16 and 18, dated October 16, 2026. Goodwill of the two legacy units was combined into the new Mobility reporting unit, which carried $626 million of goodwill at the end of 2025.
The spin-off timeline
Eaton announced on January 26, 2026 that it intends to spin off Mobility into an independent, publicly traded company. It expects to finish by the end of the first quarter of 2027, subject to approvals including final board approval and effectiveness of a Form 10 registration statement filed with the SEC.
The company expects the spin-off to be tax-free to ordinary shareholders for U.S. federal income tax purposes.
Eaton points readers to its 10-Qs for periods ended March 31 and June 30, 2026 for developments since the original 10-K.
Sources
- 8-K Filing — Eaton Corp plc (ETN) — SEC EDGAR
- Exhibit etn-20261016_d2.htm — Eaton Corp plc 8-K exhibit — SEC EDGAR
