Emerson Updates 2022 Outlook

(RTTNews) - Emerson (EMR) updated 2022 outlook to reflect the impacts of the AspenTech and Therm-O-Disc transactions, and write-offs associated with announced Russia exit while considering continued macroeconomic and geopolitical uncertainty, supply chain constraints, exchange rate fluctuations and challenges related to COVID-19. The company increased earnings per share guidance to $5.25 to $5.35 and increased adjusted earnings per share guidance to $5.05 to $5.15. Net sales guidance was reduced to 7 to 8 percent and underlying sales guidance was narrowed to 9 to 10 percent.

Third quarter adjusted earnings per share was $1.38, up 16 percent, which includes an $0.08 net AspenTech impact. Earnings increased to $921 million from $627 million, last year. Earnings per share were $1.54 for the quarter, up 48 percent.

On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $1.30, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were up 7 percent to $5.01 billion, and underlying sales were up 7 percent. Analysts on average had estimated $5.12 billion in revenue. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.