Aug 1 (Reuters) - Factory automation equipment maker Emerson Electric Co raised its full-year profit and sales forecasts, driven by strong demand from North America and Canada.
The company said it expects fiscal 2017 adjusted earnings from continuing operations in the range of $2.58 to $2.62, up from its previous forecast of $2.50 to $2.60 per share.
Emerson also raised its forecast for net sales to be up about 5 percent from flat.
Net sales for the third quarter rose 10 percent to $4.04 billion.
Sales at its automation solutions business, its biggest, jumped 12.1 percent to $2.44 billion in the third quarter ended June 30.
The business makes valves and regulators for the oil and gas industry and has struggled as customers curtailed spending due to a slump in oil prices.
Sales at its commercial & residential solutions business, which makes air conditioning compressors, sensors and thermistors for home appliances and ignition systems for furnaces rose 6.7 percent to $1.60 billion.
Earnings from continuing operations fell to $419 million, or 63 cents per share in the quarter, from $451 million, or 68 cents per share, a year earlier. nBw87mQvza
Excluding items, the company earned 68 cents per share from continuing operations.
Analysts on average expected the company to earn 69 cents per share and revenue of $4.03 billion, according to Thomson Reuters I/B/E/S.
Up to Monday's close, the St. Louis, Missouri-based company's shares had risen 6.9 percent this year. (Reporting by Arunima Banerjee in Bengaluru; Editing by Supriya Kurane)