Emerson Electric (EMR) Tops Q3 EPS

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Go back to Emerson Electric (EMR) Tops Q3 EPS

Emerson Reports Third Quarter 2020 Results and Raises Full Year 2020 Guidance

August 4, 2020 6:55 AM EDT

GAAP net sales of $3.9 billion were down 16 percent; underlying sales were down 15 percent as demand declined due to COVID-19 GAAP EPS was $0.67, down 31 percent from $0.97 in the year prior; adjusted EPS, which excludes restructuring and related costs, was $0.80, exceeding midpoint of management guidance of $0.60, driven primarily by previously announced aggressive cost reduction actions, and a lower effective tax rate than expected Delivered strong operating cash flow of $842 million in the quarter, and $1.85 billion year-to-date, up $52 million or 3 percent year-to-date Delivered strong free cash flow of $738 million in the quarter, and... More