ST. LOUIS (AP) — ST. LOUIS (AP) — Emerson Electric Co. (EMR) on Wednesday reported fiscal third-quarter profit of $9.35 billion.
On a per-share basis, the St. Louis-based company said it had net income of $16.28. Earnings, adjusted to account for discontinued operations, came to $1.29 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $3.95 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $3.89 billion.
Emerson Electric expects full-year earnings in the range of $4.40 to $4.45 per share.
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