Emerson Electric Co. (NYSE:EMR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Emerson Electric Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.05% to $0.77 in the quarter versus EPS of $0.74 in the year-earlier quarter.
Revenue: Rose 0.69% to $5.96 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Emerson Electric Co. reported adjusted EPS income of $0.77 per share. By that measure, the company missed the mean analyst estimate of $0.78. It missed the average revenue estimate of $6.03 billion.
Quoting Management: “Economies around the world are struggling for momentum,” said Chairman and Chief Executive Officer David N. Farr. “Demand slowed in the second half of the quarter as overall global business confidence deteriorated. We do not see a catalyst to economic growth over the next six to nine months. In light of the current business environment, I was pleased with our underlying growth, especially in emerging markets, which grew 6 percent. We will continue to target investment in growing regions, while remaining cautious in mature markets until the economy accelerates.”
Key Stats (on next page)…