Bernstein Downgrades Emerson (EMR) to Market Perform
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Emerson Electric (EMR) Misses Q2 EPS by 1c; Cuts FY13 EPS View; Plans 70M Buyback
May 7, 2013 6:26 AM EDT(Updated - May 7, 2013 6:55 AM EDT)
Emerson Electric Co. (NYSE: EMR) reported Q2 EPS of $0.77, versus the analyst estimate of $0.78. Revenue for the quarter came in at $5.92 billion versus the consensus estimate of $6.03 billion.
Business Segment Highlights:Process Management sales grew 8 percent, as global oil and gas, chemical, and power industry investment remained solid. Underlying sales increased 9 percent with currency translation deducting 1 percent, led by 10 percent growth in the systems and solutions business.
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