Emerson Electric Posts Higher 4Q Sales, Boosted by Americas

By Will Feuer

Emerson Electric Co. posted higher fiscal fourth-quarter sales despite headwinds from the strong dollar as strength in the Americas lifted results.

The St. Louis-based technology and engineering company posted earnings of $740 million, or $1.24 a share, for the three months ended Sept. 30, compared with $670 million, or $1.11 a share, in the same period a year earlier.

Stripping out one-time items, including restructuring costs, adjusted earnings came to $1.53 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $1.39 a share.

Revenue rose 8%, to $5.36 billion, from $4.95 billion. Analysts surveyed by FactSet were expecting revenue of $5.34 billion.

The company said underlying sales, which strip out the effects from currency translations as well as acquisitions and divestitures, rose 12%.

Sales in the Americas rose 17%, while Europe rose 3% and Asia, Middle East & Africa posted a 7% increase in sales. Sales in China rose 9%, the company said.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

October 31, 2022 07:31 ET (11:31 GMT)

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