Emerson Electric 3Q Beats Analyst Views

By Michael Dabaie

Emerson Electric Co. on Wednesday reported quarterly results above analysts' expectations.

The technology and engineering company reported third quarter net earnings attributable to common stockholders of $627 million, up from $399 million a year earlier.

Earnings per share were $1.04 for the quarter, up from 67 cents.

Adjusted EPS came to $1.09, above FactSet consensus for 98 cents. Earnings in the quarter were ahead of management expectations, benefiting from higher volume and ongoing cost reduction actions, the company said.

Net sales were $4.7 billion, up from $3.9 billion and beating FactSet consensus of $4.6 billion.

The company said it saw strength in its residential businesses and improvement in both commercial and industrial end markets. "Importantly, our core North American process automation markets turned sharply back to growth, complementing the ongoing strength in discrete and hybrid markets," said Chief Executive Lal Karsanbhai.

Emerson also said it had a challenging operating environment, with material costs, availability, logistics, and labor constraints all requiring diligent management.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

August 04, 2021 08:56 ET (12:56 GMT)

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