Emerson Electric: Fiscal 3Q Earnings Snapshot
ST. LOUIS (AP) _ Emerson Electric Co. (EMR) on Tuesday reported fiscal third-quarter profit of $712 million.
On a per-share basis, the St. Louis-based company said it had profit of $1.12. Earnings, adjusted for pretax gains, came to 88 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.46 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $4.48 billion.
Emerson Electric expects full-year earnings to be $3.30 to $3.40 per share.
Emerson Electric shares have climbed nearly 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 7 percent. The stock has increased 17 percent in the last 12 months.