UPDATE: Emerson Electric FQ1 Profit Rises 22%
Emerson Electric Co (NYSE: EMR) reported a 22% rise in its fiscal first-quarter profit.
Emerson Electric's quarterly profit surged to $454 million, or $0.62 per share, from $371 million, or $0.50 per share, in the year-ago period.
Its revenue rose 4.6% to $5.55 billion. However, analysts were expecting earnings of $0.62 per share on revenue of $5.43 billion.
Emerson Electric expects full-year earnings of $3.53 to $3.63 per share, versus analysts' estimates of $3.59 per share. It projects sales growth of 2% to 5%, versus estimates of 3% growth.
Emerson Electric shares closed at $57.49 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.