By Dean Seal

Emerson Electric Co. has raised its sales and earnings forecasts for fiscal 2023.

The St. Louis-based technology and engineering company said it now expects earnings of between $3.55 and $3.70 a share, compared with its prior forecast for between $3.51 and $3.66 a share.

Sales are now forecast to be up 8% to 10%, compared with previous guidance for 7% to 9% growth.

The updated guidance comes as Emerson reported first-quarter sales and adjusted earnings that were below analyst expectations.

Shares were down 2.2% at $89.20 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 08, 2023 07:39 ET (12:39 GMT)

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