- U.S. industrial conglomerate Emerson Electric Co on Tuesday reported fourth-quarter sales and profit below Wall Street estimates, hit by supply chain disruptions.Higher cost of raw materials and supply chain disruptions have impacted companies across sectors by hitting their ability to produce enough.
St. Louis, Missouri-based Emerson has also streamlined itself over the past few years with moves that included executing a string of deals to cash in on the red hot demand for industrial automation. Net sales rose about 5% to $4.09 billion in the quarter ended Sept. 30, but fell short of LSEG estimates of $4.19 billion.
On an adjusted basis, the company earned $1.29 per share, compared with analysts' estimates of $1.31 per share. The company also forecast full-year 2024 adjusted earnings per share between $5.15 and $5.35, the mid-point of which was below estimates of $5.27 per share.
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