ETN · PEAD ↓ 24

Eaton reported Q3 2026 EPS of $3.68 on 2026-11-03, beating the $3.54 consensus by $0.14 (+3.95%).

Print-day reaction was a sharp +7.0% versus the prior close, as the beat drove ETN well above its pre-earnings range. The overnight gap, however, reversed course — opening -4.0% below the T+0 close, signalling meaningful after-hours selling pressure. Over the following two trading days (T+1 through T+3) the stock drifted a further -3.2%, extending the fade and erasing the initial earnings pop with no recovery. Cumulative abnormal return of -4.4% versus SPY.US places this squarely in PEAD short territory — drift reversed the initial reaction; per the documented pattern, the read holds through 2027-01-29.