May 2 Emerson Electric Co on Tuesday
reported quarterly profit that met Wall Street estimates, helped
by an increase in sales in its commercial and residential
solutions business and raised its 2017 earnings forecast for the
The company said it now expects earnings per share from
continuing operations of $2.55-$2.65 in 2017, up from its
earlier forecast of $2.47-$2.62.
Analysts on average were expecting 2017 earnings of $2.59
per share, according to Thomson Reuters I/B/E/S.
The St. Louis, Missouri-based company also said it now
expects full-year net sales to be about flat, compared with its
earlier forecast of flat to down 2 percent.
The factory automation equipment maker's earnings from
continuing operations rose to $384 million, or 58 cents per
share, in the second quarter ended March 31 from $375 million,
or 57 cents per share, a year earlier. (bit.ly/2oSXEIB)
Net sales were little changed at $3.57 billion.
Analysts on average were expecting second-quarter earnings
of 58 cents per share, on sales of $3.50 billion.
(Reporting by Shashwat Awasthi and Ankit Ajmera in Bengaluru;
Editing by Arun Koyyur)