ST. LOUIS (AP) — ST. LOUIS (AP) — Emerson Electric Co. (EMR) on Wednesday reported fiscal second-quarter profit of $501 million.
On a per-share basis, the St. Louis-based company said it had net income of 87 cents. Earnings, adjusted for amortization costs and non-recurring costs, were $1.36 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $4.38 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $4.29 billion.
For the current quarter ending in June, Emerson Electric expects its per-share earnings to range from $1.38 to $1.42.
The company expects full-year earnings in the range of $5.40 to $5.50 per share.
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