Eaton Corporation ETN is scheduled to release first-quarter 2021 earnings on May 4, before market open. This power management company delivered an average earnings surprise of 13.7% in the last four quarters.Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.Factors at PlayEaton’s first-quarter earnings are likely to have benefited from 17.1 million shares repurchased by the company in 2020. Its wide global presence and gradual reopening of economic activities along with the rollout of vaccines might have benefited first-quarter earnings.The company is also expected to have gained from cost-savings initiatives and the ongoing restructuring program.ExpectationEaton’s first-quarter 2021 earnings are expected in the range of $1.17-$1.27 per share. Acquisitions and divestitures are expected to negatively impact earnings by 5%, while favorable foreign currency translation is likely to boost the same by 2-3% for the first quarter. Segment operating margin is expected in the range of 15.4-16.1% for the quarter.The Zacks Consensus Estimate for the bottom line for the first quarter is pegged at $1.25 per share, indicating a 14.7% increase from the prior-year reported figure.What Our Quantitative Model PredictsOur proven model predicts an earnings beat for Eaton this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.Eaton Corporation, PLC Price and EPS Surprise Eaton Corporation, PLC price-eps-surprise | Eaton Corporation, PLC QuoteEarnings ESP: The company’s Earnings ESP is +1.96%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Currently, Eaton carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.Other Stocks to ConsiderInvestors can also consider the following players from the same industry that too have the right combination of elements to beat on earnings in the upcoming releases.Regal Beloit Corporation RBC is likely to come up with an earnings beat when it reports first-quarter results on May 4. It has an Earnings ESP of +2.38% and a Zacks Rank #3.SPX FLOW FLOW is scheduled to report first-quarter 2021 earnings on May 5. It has an Earnings ESP of +10.61% and a Zacks Rank #3.Emerson Electric EMR is likely to come up with an earnings beat when it reports fiscal second-quarter 2021 results on May 5. It has an Earnings ESP of +3.62% and a Zacks Rank #3.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Emerson Electric Co. (EMR): Free Stock Analysis Report Regal Beloit Corporation (RBC): Free Stock Analysis Report Eaton Corporation, PLC (ETN): Free Stock Analysis Report SPX FLOW, Inc. (FLOW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research