Emerson Electric Reports Higher Sales and Profit in Q3

1 Mins read

By Will Feuer

Emerson Electric, a St. Louis-based industrial manufacturer, has announced its financial results for the fiscal third quarter, which show a significant increase in sales and profit across the company’s segments.

Strong Profit Growth

For the three months ended June 30, Emerson Electric reported a profit of $9.35 billion, or $16.28 per share. This includes a gain of $8.76 billion from discontinued operations. Earnings from continuing operations also saw substantial growth, rising to $592 million, or $1.03 per share, compared to $226 million, or 38 cents per share, in the same period last year.

Impressive Adjusted Earnings

Adjusted earnings, excluding discontinued operations and other special items, came to $1.29 per share. This surpassed expectations, as analysts surveyed by FactSet had predicted adjusted earnings of $1.10 per share.

Robust Sales Performance

Sales from continuing operations increased by 14% to reach $3.95 billion. This exceeded the estimated sales of $3.88 billion by analysts surveyed by FactSet.

  • Sales in the intelligent-devices segment experienced solid growth of 11%.
  • The software-and-control unit also performed well, with a sales increase of 22%.

Market Reaction

Emerson Electric’s positive financial results were positively received by investors. In premarket trading, shares gained 3.5%.

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