By Dean Seal
Emerson Electric Co. has raised its sales and earnings forecasts for fiscal 2023.
The St. Louis-based technology and engineering company said it now expects earnings of between $3.55 and $3.70 a share, compared with its prior forecast for between $3.51 and $3.66 a share.
Sales are now forecast to be up 8% to 10%, compared with previous guidance for 7% to 9% growth.
The updated guidance comes as Emerson reported first-quarter sales and adjusted earnings that were below analyst expectations.
Shares were down 2.2% at $89.20 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
02-08-23 0739ET