Emerson posts 10 percent sales gain
Emerson reported net sales for its third quarter of $4.5 billion, an increase of 10 percent compared to the same period last year.
Net earnings of $712 million, or $1.12 per diluted share, compared to earnings of $413 million, or 64 cents, in last year's third quarter.
Automation Solutions net sales increased 18 percent in the quarter, with underlying sales up 12 percent excluding favorable currency of 2 percent and an impact from acquisitions of 4 percent. Growth continued to reflect strong short cycle repair and maintenance (MRO) demand and projects focused on expansion and optimization of existing facilities. Trends were positive across all key market verticals and world areas, with double digit growth in both mature and emerging markets.
Commercial & Residential Solutions net sales were down 1 percent and underlying sales
increased 2 percent excluding favorable currency of 1 percent and an impact from divestitures net of acquisitions, which deducted 4 percent. Underlying sales in North America were up 2 percent as strong demand for professional tools continued, and air conditioning demand improved compared with the prior quarter.
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.
