Emerson Electric Co. Beats 2Q Earnings, Sales Expectations

By Stephanie Lai

Emerson Electric Co. on Wednesday posted stronger-than-expected earnings in the latest quarter, amid inflationary and supply-chain pressures.

The St. Louis, Mo.-based global technology and engineering company reported a profit of $674 million, up from $561 million a year earlier. Earnings per share were $1.13, up from 93 cents a share a year earlier.

On an adjusted basis, earnings were $1.29 a share. Analysts were expecting $1.18 a share.

Sales rose 8%, to $4.79 billion, up from $4.43 billion in the previous year. Analysts polled by FactSet expected $4.71 billion in sales.

Automation Solutions was up 17% due to strong global demand, the company said. Earnings benefited from increased volume and effective cost management and savings, Emerson Chief Executive Lal Karsanbhai said.

Write to Stephanie Lai at [e-mail]

(END) Dow Jones Newswires

05-04-22 0738ET