By Matt Grossman
Emerson Electric Co. on Wednesday posted rising sales and earnings in its fiscal second quarter amid recovering demand from industrial and real-estate applications of its products.
The St. Louis-based manufacturer posted earnings of 93 cents a share, up from 84 cents a share a year earlier. Net earnings for common stockholders were $561 million, a rise from $517 million.
Excluding one-time items, Emerson's adjusted profit was 97 cents a share. Analysts polled by FactSet had forecast an adjusted profit of 90 cents a share.
Sales rose 6% to $4.43 billion from $4.16 billion a year earlier, the company said. Analysts were expecting sales of $4.36 billion.
Emerson's sales from its commercial-and-residential products business grew 13% amid strong demand from residential markets and an improvement from cold-chain customers, it said. Automation product sales rose 3% as demand from life-sciences, food-and-beverage and medical markets coincided with lagging trends in process-based industries, the company said.
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(END) Dow Jones Newswires
May 05, 2021 07:32 ET (11:32 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.