By Stephanie Lai

Emerson Electric Co. raised its sales and earnings outlook for 2022 after posting stronger-than-expected results for the first quarter, the company said Wednesday.

The company said its updated guidance also takes into consideration continued macroeconomic and geopolitical uncertainty, supply-chain constraints and challenges related to the pandemic.

Emerson Electric will exit its Russia business and is exploring strategic options to divest itself of Metran, its Russia-based manufacturing subsidiary, Emerson Chief Executive Lal Karsanbhai said.

The company said its guidance estimates the operational impact of exiting its Russia business, though it excludes any potential costs associated with the move.

The St. Louis-based global technology and engineering company said it now expects revenue to rise 8% to 10% this year.

Emerson Electric raised its per-share earnings guidance to a range from $4.77 to $4.92, up from $4.71 to $4.86 previously, to reflect the impact of increased sales.

Write to Stephanie Lai at stephanie.lai@wsj.com

(END) Dow Jones Newswires

05-04-22 0751ET