Emerson Electric and Waste Connections Receive Mixed Reviews Post Earnings

Emerson Electric Co. (NYSE:EMR) reported its results for the first quarter. Net income for Emerson Electric Co. fell to $371 million (50 cents per share) vs. $480 million (63 cents per share) a year earlier. This is a decline of 22.7% from the year earlier quarter. Revenue fell 4.1% to $5.31 billion from the year earlier quarter. Emerson Electric Co. fell in line with the mean analyst estimate of 50 cents per share. Analysts were expecting revenue of $5.29 billion.

“It was a very difficult first quarter of the new fiscal year. Given the momentum from our record performance in the fourth quarter of 2011, we expected to get the year off to a better start,” said Chairman and CEO David Farr. “Unfortunately, the headwinds were too strong and numerous to overcome. The good news is that most of these challenges are temporary, and our businesses and end markets remain fundamentally solid. We continue to believe 2012 will be a good year with record financial performance.”

Competitors to Watch: AMETEK, Inc. (NYSE:AME), Electro-Sensors, Inc. (NASDAQ:ELSE), ESCO Technologies Inc. (NYSE:ESE), Danaher Corporation (NYSE:DHR), Roper Industries, Inc. (NYSE:ROP), Mesa Laboratories, Inc. (NASDAQ:MLAB), Elster Group SE ADR (NYSE:ELT), Honeywell Intl. Inc. (NYSE:HON), Itron, Inc. (NASDAQ:ITRI), and Cognex Corporation (NASDAQ:CGNX).

Waste Connections Inc. (NYSE:WCN) reported its results for the fourth quarter. Net income for Waste Connections Inc. rose to $38 million (34 cents per share) vs. $36.1 million (31 cents per share) in the same quarter a year earlier. This marks a rise of 5% from the year earlier quarter. Revenue rose 13% to $379.8 million from the year earlier quarter. Waste Connections Inc. reported adjusted net income of 35 cents per share. By that measure, the company fell in line with the mean estimate of 35 cents per share. Analysts were expecting revenue of $377.1 million.

“We are extremely pleased with our results in the quarter and full year. Better than expected pricing growth in the quarter, increased special waste volumes, and tight cost controls helped cushion the impact of a 30% decline in recycled fiber values during the first half of the fourth quarter. Continued strength in core pricing growth, relative stability in municipal solid waste volumes, and recent modest increases in recycled fiber values should provide a good springboard into 2012,” said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer.

Competitors to Watch: Waste Management, Inc. (NYSE:WM), Republic Services, Inc. (NYSE:RSG), Casella Waste Systems Inc. (NASDAQ:CWST), WCA Waste Corporation (NASDAQ:WCAA), Perma-Fix Environmental Services, Inc. (NASDAQ:PESI), IESI BFC Ltd (NYSE:BIN), Avalon Holdings Corp. (AMEX:AWX), Industrial Services of America, Inc. (NASDAQ:IDSA), Stericycle, Inc. (NASDAQ:SRCL), and GreenGold Ray Energies, Inc. (GRYE).