Emerson Electric (EMR) Tops Q3 EPS by 1c, Offers FY15 Outlook

Emerson Electric (NYSE: EMR) reported Q3 EPS of $0.84, $0.01 better than the analyst estimate of $0.83. Revenue for the quarter came in at $5.5 billion versus the consensus estimate of $5.63 billion.

Emerson Electric sees FY2015 EPS of $3.97-$4.07.

2015 Outlook

Little change is expected in market conditions for the remainder of the fiscal year. The sustained headwinds from lower oil prices, strength of the U.S. dollar, a broad slowdown in industrial spending, and sluggish growth in certain emerging and mature markets will reduce underlying sales growth across our businesses. We now expect 2015 net sales to decline approximately 9 percent. Underlying sales are expected to be down approximately 2 percent, excluding negative currency translation of approximately 5 percent and a 2 percent deduction from divestitures. Profitability will continue to be challenged by lower underlying growth and the impact of accelerated restructuring. As a result, reported earnings per share are expected to be $3.97 to $4.07, including the power transmission solutions divestiture gain of $0.77 per share.

“Despite operating in difficult market conditions, our employees have done an outstanding job of supporting and serving customers while at the same time taking the necessary actions to deliver long-term shareholder value,” Farr said.

For earnings history and earnings-related data on Emerson Electric (EMR) click here.

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