Emerson Electric 3Q Sales Rise on Growth Across Units

By Will Feuer

Emerson Electric reported higher sales and profit in the fiscal third quarter, powered by growth across the company's segments.

For the three months ended June 30, the St. Louis-based industrial manufacturer posted a profit of $9.35 billion, or $16.28 a share, including a gain of $8.76 billion from discontinued operations.

Earnings from continuing operations rose to $592 million, or $1.03 a share, from $226 million, or 38 cents a share.

Stripping out discontinued operations and other special items, adjusted earnings came to $1.29 a share. Analysts surveyed by FactSet expected adjusted earnings of $1.10 a share.

Sales from continuing operations rose 14% to $3.95 billion. Analysts surveyed by FactSet were looking for sales of $3.88 billion.

Sales in the company's intelligent-devices segment rose 11% while sales from the software-and-control unit rose 22%.

Shares gained 3.5% in premarket trading.

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

(END) Dow Jones Newswires

August 02, 2023 07:29 ET (11:29 GMT)

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