UPDATE: Emerson Electric Posts 2.9% Rise In FQ2 Profit, Lowers Forecast

Emerson Electric Co

reported a 2.9% rise in its fiscal second-quarter earnings and cut its full-year view. Emerson Electric now projects earnings of $3.48 to $3.58 per share or the year on sales growth of 1.5% to 2.5%. In February, the company expects earnings of $3.53 to $3.63 per share on sales growth of 2% to 5%. Emerson Electric's quarterly profit surged to $561 million, or $0.77 per share, from $545 million, or $0.74 per share, in the year-ago period. Its revenue climbed 0.7% to $5.96 billion. However, analysts were expecting earnings of $0.78 per share on revenue of $6.03 billion. Emerson Electric shares closed at $57.30 yesterday.