EMR - Emerson Electric Co reports rise in sales and earnings in Q2 financial results

2024-05-08 07:22:59 ET

Software and technology company Emerson Electric Co (NYSE: EMR) reported their Q1 2024 financial results today before US markets opened.

It also updated its full year outlook for fiscal 2024. Emerson also declared a quarterly cash dividend of $0.525 per share of common stock payable June 10, 2024 to stockholders of record on May 17th.

Net sales were up 17% year-on-year (YoY) from $3.75 billion to $4.37 billion for the quarter.

Pre-tax earnings were also up, from $639 million the previous year to $652 million.

Earnings per share increase by a significant 25%, from $1.09 per ordinary share to $1.36.

The company’s EBITDA also increased healthily, from $924 million to $1.13 billion year-on-year. Margin was also up by 140 basis points to 26%, from 24.6%.

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