By Matt Grossman

Emerson Electric Co. on Wednesday raised its earnings guidance for the 2021 fiscal year, forecasting improving industrial and commercial demand in the coming months.

The St. Louis-based electrical-components manufacturer said it now expects adjusted earnings per share of $3.90 plus or minus five cents for the fiscal year. In February, it had forecast $3.70 plus or minus 10 cents.

Emerson now expects year-over-year sales growth of 6% to 9%, a shift upwards from February guidance of 4% to 8% growth.

Residential demand for Emerson's products will likely remain strong over the rest of the year but will begin to taper in the second half, the company forecast.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

05-05-21 0730ET