UPDATE: Emerson Electric Posts Upbeat Q4 Profit, Lifts Dividend
Emerson Electric Co (NYSE: EMR) reported a 63% drop in its fourth-quarter profit.
Emerson Electric's quarterly profit declined to $282 million, or $0.39 per share, versus $761 million, or $1.01 per share, in the year-earlier period. Its adjusted earnings came in at $1.11 per share.
Its sales climbed 2% to $6.7 billion. However, analysts were expecting earnings of $1.05 per share on revenue of $6.69 billion.
Emerson Electric raised its quarterly cash dividend to $0.41 per share.
Emerson Electric shares closed at $50.50 yesterday.
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