Emerson Electric: Fiscal 4Q Earnings Snapshot
ST. LOUIS (AP) _ Emerson Electric Co. (EMR) on Tuesday reported fiscal fourth-quarter profit of $717 million.
The St. Louis-based company said it had profit of $1.16 per share. Earnings, adjusted for pretax gains, came to $1.07 per share.
The results matched Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $1.07 per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.97 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $5.05 billion.
For the year, the company reported profit of $2.31 billion, or $3.71 per share. Revenue was reported as $18.37 billion.
Emerson Electric expects full-year earnings in the range of $3.48 to $3.72 per share.
Emerson Electric shares have increased 22% since the beginning of the year, while the Standard & Poor’s 500 index has risen 23%. The stock has climbed 5% in the last 12 months.