Emerson Electric Profit Rises 12%, Topping Analysts' Forecasts
Diversified manufacturer Emerson Electric reported higher quarterly profit on Tuesday, led by demand in its industrial automation and network power segments.
Earnings rose 12% to $445 million, or 55 cents a share in Emerson's fiscal first quarter ended Dec. 31, compared with $399 million, or 48 cents a share, a year earlier.
Analysts, on average, expected profit of 53 cents a share, according to Thomson Financial.
Revenue rose 11% to $5.1 billion, also ahead of Wall Street forecasts.
St. Louis-based Emerson, whose products range from electric motors and air conditioners to storage products and software that makes factories run efficiently, said international sales
accounted for more than half the total for the first time.