Emerson Boosts FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, Emerson Electric Co. (EMR) raised its earnings and sales growth guidance for the full-year 2020, as cost savings take effect, demand begins to stabilize, and the economy begins to reopen.

For fiscal 2020, the company now projects earnings in a range of $2.80 to $2.95 per share and adjusted earnings in a range of $3.20 to $3.35 per share on a sales decline of 9 to 10 percent.

Previously, the company expected earnings in the range of $2.62 to $2.82 per share and adjusted earnings in the range of $3.00 to $3.20 per share on a sales decline of 9 to 11 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.03 per share on a sales decline of 10.2 percent to $16.49 billion for the year. Analysts' estimates typically exclude special items.