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Emerson Electric 2Q Sales, Profit Grow as Demand Rebounds

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.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

May 05, 2021 07:32 ET (11:32 GMT)

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