Emerson Electric Updates 2022 Guidance Following Earnings Gains

By Connor Hart

Emerson Electric Co. lowered its net sales outlook and raised its per-share earnings guidance for 2022 after posting increased profit and revenue in its third quarter.

The St. Louis-based global technology and engineering company said its updated outlook reflects its most-recent transactions, write-offs associated with the company's exit from Russia and continued macroeconomic and Covid-19-related challenges.

The company lowered its full-year net sales growth projection to between 7% and 8%, compared with a previous view between 8% and 10%. Underlying sales guidance is narrowed to between 9% to 10%, from between 9% and 11%.

The company increased its per-share earnings guidance to between $5.25 and $5.35, compared with a previous view of between $4.77 and $4.92. The company also raised its adjusted per-share earnings guidance to between $5.05 and $5.15, from between $4.95 and $5.10.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

August 09, 2022 07:51 ET (11:51 GMT)

Emerson Electric (NYSE:EMR)
Historical Stock Chart
From Jun 2024 to Jul 2024