After the wildfires — lessons on being prepared | SaltWire #wildfire #novascotia #thinkingoutoud - Emerson 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% in premarket trade.
The company's measurement and analytical devices have enjoyed sustained demand from manufacturers and end customers across the chemical, oil and gas industries, while strength in its factory control software helped offset a hit from slowing automation demand.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.
Second-quarter sales at its discrete automation unit fell about 7% to $632 million. Overall quarterly revenue rose about 17% to $4.38 billion, compared with expectations of $4.29 billion. 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.
Peer Rockwell Automation cut its full-year profit and sales growth forecast on Tuesday, after having to dial back an initial push towards automation.It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home. Our 100 journalists strive to inform and improve our East Coast communities by delivering impartial, high-impact, local journalism that provokes thought and action.
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