Emerson Electric (NYSE: EMR) reported Q1 EPS of $0.49, $0.07 better than the analyst estimate of $0.42. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.16 billion.

"Our strong first quarter results, which surpassed expectations, represent a solid start to the fiscal year and reflect an improving overall economic environment," said Chairman and Chief Executive Officer David N. Farr. "The benefits from our restructuring actions during the past two years played a critical role in our ability to deliver higher margins across many of our businesses. Considering the improving demand conditions during the quarter, particularly in the automation markets, we are increasing our 2017 full-year EPS guidance by 12 cents at both the top and bottom end of the range, including the 7 cent income tax benefit in the first quarter."

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