(Updated - August 4, 2020 6:59 AM EDT)

Emerson Electric (NYSE: EMR) reported Q3 EPS of $0.80, better the analyst estimate of $0.60. Revenue for the quarter came in at $3.91 billion versus the consensus estimate of $3.85 billion.

2020 Outlook

Management has updated the full year 2020 outlook to reflect the dynamic demand environment associated with global economic reopening and the stronger cost savings impacts. GAAP earnings per share guidance is $2.80 to $2.95. Adjusted earnings per share guidance, which excludes restructuring actions and related costs, is $3.20 to $3.35, compared to prior guidance of $3.00 to $3.20. This increase primarily reflects the aggressive restructuring reset actions and COVID-19 related cost containment actions positively impacting profitability. Total restructuring actions for the year are now expected to be approximately $300 million, an increase of $20 million from the previous guidance. Share repurchases remain suspended, and total approximately $950 million. There is no change in the dividend outlook. Lastly, capital expenditures remain unchanged at $550 million.

The following table presents the updated 2020 guidance framework:

Sales Growth Guidance				EPS and Cash Flow Guidance
				GAAP EPS		$2.80 - $2.95
Net Sales Growth		(10%) - (9%)		Adjusted EPS		$3.20 - $3.35
Automation Solutions		(10%) - (8%)		Tax Rate		~20%
Commercial & Residential Solutions		(11%) - (9%)		Operating Cash Flow		~$2.8B
Underlying Sales Growth		(9%) - (7.5%)		Free Cash Flow		~$2.25B
Automation Solutions		(9%) - (7%)		Capital Expenditures		~$550M
Commercial & Residential Solutions		(10%) - (8%)		Share Repurchases		~$950M

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