Emerson Electric Boosts 2021 Guidance on Demand Outlook

By Michael Dabaie

Emerson Electric Co. boosted its 2021 outlook, citing improvement in industrial and commercial demand.

The technology and engineering company for industrial, commercial and residential markets guided for 2021 per-share earnings of $3.79, plus or minus a penny, and an adjusted profit of $4.07 plus or minus a penny. In May, Emerson guided for a profit of of $3.60 plus or minus 5 cents and an adjusted profit of $3.90 a share plus or minus 5 cents.

"Despite ongoing pandemic challenges with the COVID delta variant, we expect overall continued improvement in industrial and commercial demand over the remainder of 2021. We also expect the operational, supply chain, and materials inflation environment to remain challenging through the remainder of the fiscal year," the company said.

Emerson guided for net sales growth of 9% to 10%, higher than earlier outlook for growth of 6% to 9%.

Write to Michael Dabaie at [e-mail]

(END) Dow Jones Newswires

08-04-21 0835ET