Emerson sales up 2 percent
Emerson reported fourth quarter sales of $5 billion increased 2 percent from $4.9 billion in the same quarter last year.
Growth was in line with management expectations for Automation Solutions but below expectations for Commercial & Residential Solutions due to cooler weather conditions in North America that unfavorably impacted air conditioning and construction markets and continued sluggishness in Asian markets.
Net earnings of $717 million, or $1.16 per diluted share, compared to $617 million, or 97 cents, in last year's fourth quarter.
For the full year, sales of $18.4 billion increased 6 percent from $17.4 billion in 2018. Net earnings of $2.3 billion, or $3.71 per share, were up from $2.2 billion, or $3.46, the previous year.
Automation Solutions net sales increased 4 percent in the quarter, with underlying sales up 5 percent excluding unfavorable currency of 2 percent and a positive impact from acquisitions of 1 percent.
Commercial & Residential Solutions net sales decreased 3 percent in the quarter, with underlying sales down 2 percent excluding unfavorable currency of 1 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
