| Abstract: | Process Management, Industrial Automation, and Network Power groups are the big gainers as the automation supplier turns in a strong third quarter. |
| Keywords: | Emerson sales, Emerson revenue, Emerson Q3 |
Defying the economic malaise in its home country, St. Louis-based Emerson Electric. Co. this week reported another quarter of double-digit growth, buoyed by strong momentum in its Process Management, Industrial Automation, and Network Power segments.
For its third quarter, ended June 30, Emerson reported earnings from continuing operations of $647 million, or $0.82, up 13% over the prior year’s $573 million. Net sales reached $6.6 billion, a 14% improvement over last year’s $5.8 billion.
Stripped of the 5% boost from currency rates and the 2% from acquisitions, the company notched underlying sales growth of 7%. International sales led the charge, increasing 10% on an underlying basis, with Asia up 16%, the Middle East/Africa up 15%, and Latin America up 16%. Underlying sales in the United States and Europe increased 4% and 3%, respectively.
Emerson said it plans to accelerate its investment in next-generation technologies, specifically in wireless and its PlantWeb control architecture, both of which fall under the Process Management group.
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