By Will Feuer


Emerson Electric Co. said it expects sales from continuing operations to grow in the fiscal year ahead after paring back its portfolio of units in 2022 through a series of sales, most recently selling a majority stake in its climate-technologies business.

The St. Louis-based technology and engineering company said it expects sales from continuing operations for fiscal 2023, which began at the end of September, to grow 7% to 9%. Underlying sales, which strip out the effects of mergers and currency translations, are expected to grow 6.5% to 8.5% for the year ahead, on a continuing-operations basis.

Earnings from continuing operations are expected to be between $3.51 a share and $3.66 a share, the company said. Stripping out amortization, restructuring costs and other one-time items, adjusted earnings from continuing operations are seen coming to $4 a share to $4.15 a share for the year.

For the current quarter, sales from continuing operations are to rise between 6% and 8%. Quarterly earnings from continuing operations are expected to fall from $1.50 a share in the year-earlier quarter to between 67 cents a share and 71 cents a share for the fiscal first quarter of 2023.

Emerson, which agreed Monday to sell a majority stake in its climate-technologies business to Blackstone Inc., said it will report results for the unit as discontinued operations going forward. It will also report earnings from its InSinkErator and Therm-O-Disc businesses as discontinued operations.

Earnings from discontinued operations for 2023 are expected to be $10 billion to $11 billion, or $17 a share to $19 a share, including net gains on 2023 sales.

The 2023 outlook also assumes about $1.2 billion of dividend payments and about $2 billion in share repurchases, the company said.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

10-31-22 0742ET