Posted August 6, 2019

Emerson sales grow by 5 percent

Emerson reported third quarter sales of $4.7 billion increased 5 percent, or 2 percent on an underlying basis.

Growth was below management expectations across both business platforms due to softer conditions in global discrete manufacturing end markets and cooler, wet weather conditions in North America that unfavorably impacted air conditioning and construction markets.

Net earnings of $604 million was down 15 percent from $712 million in last year's third quarter. Diluted earnings per share of 97 cents compared to earnings of $1.12 per share in the same period last year, a decline of 13 percent. 

Automation Solutions net sales increased 5 percent in the quarter, while Commercial & Residential Solutions net sales increased 4 percent.