Emerson Electric: Fiscal 4Q Earnings Snapshot
ST. LOUIS (AP) _ Emerson Electric Co. (EMR) on Tuesday reported fiscal fourth-quarter profit of $617 million.
On a per-share basis, the St. Louis-based company said it had profit of 97 cents. Earnings, adjusted for pretax gains, were 89 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.89 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $4.94 billion.
For the year, the company reported profit of $2.2 billion, or $3.46 per share. Revenue was reported as $17.41 billion.
Emerson Electric expects full-year earnings to be $3.55 to $3.70 per share.
Emerson Electric shares have increased roughly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2 percent. The stock has increased nearly 10 percent in the last 12 months.