Emerson Electric: Fiscal 3Q Earnings Snapshot
ST. LOUIS (AP) _ Emerson Electric Co. (EMR) on Tuesday reported fiscal third-quarter earnings of $604 million.
The St. Louis-based company said it had profit of 97 cents per share. Earnings, adjusted for pretax gains, came to 94 cents per share.
The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 94 cents per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.68 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $4.81 billion.
Emerson Electric expects full-year earnings to be $3.60 to $3.70 per share.
Emerson Electric shares have decreased slightly since the beginning of the year, while the Standard & Poor’s 500 index has risen 13%. The stock has declined 17% in the last 12 months.