Emerson Electric boosts 2024 profit view on measurement tools demand

FILE PHOTO: Emerson Electric Co is displayed on a screen on the floor at the New York Stock Exchange in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid/File PhotoEmerson Electric raised its full-year profit forecast on Wednesday on steady demand in its unit that makes valves, regulators and actuators, sending the engineering solutions firm's shares up about 2 per cent in premarket trade.

The St. Louis, Missouri-based company now expects full-year adjusted earnings per share of between $5.40 and $5.50, compared with its prior expectation of $5.30 to $5.45. On adjusted basis, it earned 1.26 per share for the quarter ended March 31, compared with analysts' estimates of $1.25, according to LSEG data.

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