Emerson Electric: Fiscal 1Q Earnings Snapshot
ST. LOUIS (AP) _ Emerson Electric Co. (EMR) on Tuesday reported fiscal first-quarter net income of $326 million.
The St. Louis-based company said it had net income of 53 cents per share. Earnings, adjusted for restructuring costs, came to 67 cents per share.
The results matched Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 67 cents per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.15 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $4.17 billion.
Emerson Electric expects full-year earnings in the range of $3.55 to $3.80 per share.
Emerson Electric shares have dropped nearly 5% since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 1%. The stock has increased nearly 9% in the last 12 months.