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MarketScreener Homepage  >  Equities  >  Nyse  >  Emerson Electric    EMR

EMERSON ELECTRIC

(EMR)
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Emerson Electric : 2Q Net Profit Rises, Guidance Narrowed

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05/07/2019 | 07:30am EDT

By Cristina Roca

Emerson Electric Co. (EMR) on Tuesday reported a 7.9% rise in second-quarter profit but narrowed its guidance, citing a slowdown in underlying orders.

For the quarter ended March 31, the St. Louis manufacturing company earned a profit of $520 million, or 84 cents a share, compared with $482 million, or 76 cents a share, for the same period last year. The result was in line with analysts' expectations of net profit of 84 cents a share, according to a consensus estimate provided by FactSet.

Sales rose 7.5% to $4.57 million from $4.25 billion. On an underlying basis, sales rose 4%, Emerson said.

For fiscal 2019, Emerson narrowed its earnings-per-share forecast to $3.60-$3.70. It had previously predicted profit at $3.60-$3.75 a share for the fiscal year. It also said it now expects its net sales to grow between 7% and 8.5%, compared with its previous range of 7%-10%. Emerson backed its view of operating cash flow of $3.2 billion for fiscal 2019.

The company's trailing three-month underlying order growth stayed in the 5%-10% range during the first two months of the first quarter but slowed to 4% in March, when it was affected by oil price volatility and a global slowdown in discrete manufacturing end markets, Emerson said. "We expect growth to improve modestly through the second half of the year with underlying orders returning to the 5 to 10 percent range," the company said.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

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Financials (USD)
Sales 2019 18 463 M
EBIT 2019 3 087 M
Net income 2019 2 256 M
Debt 2019 3 865 M
Yield 2019 2,86%
P/E ratio 2019 18,9x
P/E ratio 2020 18,4x
EV / Sales2019 2,50x
EV / Sales2020 2,42x
Capitalization 42 227 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 70,40  $
Last Close Price 68,65  $
Spread / Highest target 16,5%
Spread / Average Target 2,55%
Spread / Lowest Target -21,3%
EPS Revisions
Managers
NameTitle
David N. Farr Chairman & Chief Executive Officer
Michael H. Train President
Steven J. Pelch Chief Operating Officer & Executive Vice President
Frank J. Dellaquila Chief Financial Officer & Senior Executive VP
Jake Fritz Chief Information Officer & Vice President
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