Emerson Electric Earnings Cheat Sheet: Profits Rise for Third Straight Quarter
S&P 500 (NYSE:SPY) component Emerson Electric Co. (NYSE:EMR) reported its results for the second quarter. Emerson Electric Co. is a multinational technology company, which designs and supplies product technology. It provides engineering services to a wide gamut of industrial, commercial and consumer markets worldwide.
Emerson Electric Earnings Cheat Sheet for the Second Quarter
Results: Net income for Emerson Electric Co. rose to $556 million (73 cents/share) vs. $405 million (53 cents/share) in the same quarter a year earlier. A rise of 37.3% from the year earlier quarter.
Revenue: Rose 18% to $5.85 billion YoY.
Actual vs. Wall St. Expectations: EMR fell short of the mean analyst estimate of 74 cents/share. Estimates ranged from 72 cents per share to 77 cents per share.
Quoting Management: “Emerson had an excellent second quarter, including double-digit sales growth, solid margin expansion and strong cash flow,” said Chairman and Chief Executive Officer David N. Farr. “We’re pleased with the results because we performed well in a business environment complicated by volatile current events around the world. The global economy is growing and our proven business strategy will again drive us through these complexities and uncertainties. We remain on track to have a very good year – a record year.”
Key Stats: The company has now seen net income rise in three-straight quarters. In the first quarter, net income rose 12.9% and in the fourth quarter of the last fiscal year, the figure rose 48%.
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), General Electric (NYSE:GE), and Cognex Corporation (NASDAQ:CGNX)
Stock Performance: Shares of EMR are down over 4% to $58.15 per share: