Emerson Electric Raises 2022 Guidance on Stronger-Than-Expected 2Q
May 04 2022 - 8:06AM
Dow Jones News
By Stephanie Lai
Emerson Electric Co. raised its sales and earnings outlook for
2022 after posting stronger-than-expected results for the first
quarter, the company said Wednesday.
The company said its updated guidance also takes into
consideration continued macroeconomic and geopolitical uncertainty,
supply-chain constraints and challenges related to the
pandemic.
Emerson Electric will exit its Russia business and is exploring
strategic options to divest itself of Metran, its Russia-based
manufacturing subsidiary, Emerson Chief Executive Lal Karsanbhai
said.
The company said its guidance estimates the operational impact
of exiting its Russia business, though it excludes any potential
costs associated with the move.
The St. Louis-based global technology and engineering company
said it now expects revenue to rise 8% to 10% this year.
Emerson Electric raised its per-share earnings guidance to a
range from $4.77 to $4.92, up from $4.71 to $4.86 previously, to
reflect the impact of increased sales.
Write to Stephanie Lai at stephanie.lai@wsj.com
(END) Dow Jones Newswires
May 04, 2022 07:51 ET (11:51 GMT)
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