Posted May 1, 2018

Emerson posts strong sales gain

Emerson announced net sales of $4.2 billion were up 19 percent in the second quarter, reflecting strong global economic conditions and continued favorable demand.

Net earnings of $482 million, or 76 cents per diluted share, were up 65 percent from $292 million, or 45 cents, in the same quarter last year. 

Automation Solutions net sales increased 31 percent in the quarter, with underlying sales up 10 percent excluding favorable currency of 4 percent and an impact from acquisitions of 17 percent.

Commercial & Residential Solutions second quarter net sales were up 2 percent and underlying sales increased 4 percent excluding favorable currency of 2 percent and an impact from divestitures net of acquisitions of 4 percent. Underlying sales in North America were up 1 percent as strong demand for professional tools was offset by slower than expected air conditioning demand.

During the quarter, Emerson closed on the Cooper-Atkins and ProSys acquisitions and announced the Textron Tools & Test acquisition, which is expected to close in the fiscal fourth quarter