Posted May 2, 2017

Emerson sales flat in 2Q

Emerson said net sales in the second quarter of $3.6 million were flat on both a net and underlying basis.

Within the regions, growth in the United States, Europe and Asia, particularly in China, was offset by declines in Middle/East Africa and Latin America. Five percent growth in the Commercial & Residential Solutions platform was driven by favorable HVAC, refrigeration and construction related markets. The Automation Solutions platform was down low-single digits. However, MRO activity in energy related markets continues to strengthen, particularly in North America, and power and life sciences markets remained favorable.

Net earnings of $300 million, or 45 cents diluted earnings per share, were down 21 percent from $377 million, or 57 cents, in the same period last year.