EMR - Emerson Electric Non-GAAP EPS of $1.38 beats by $0.09 revenue of $5.0B misses by $100M raises FY22 EPS guidance
- Emerson Electric press release ( NYSE: EMR ): Q3 Non-GAAP EPS of $1.38 beats by $0.09 .
- Revenue of $5.0B (+7% Y/Y) misses by $100M .
- Emerson updated its 2022 full year outlook to reflect the impacts of the AspenTech and Therm-O-Disc transactions, and write-offs associated with its announced Russia exit while considering continued macroeconomic and geopolitical uncertainty, supply chain constraints, exchange rate fluctuations and challenges related to COVID-19.
- Net sales guidance is reduced to 7 to 8 percent from prior outlook of 8%-10% vs. 8.4% consensus and underlying sales guidance is narrowed to 9 to 10 percent.
- Earnings per share guidance is increased to $5.25 to $5.35
- Adjusted earnings per share guidance is increased to $5.05 to $5.15 from prior outlook of $4.95-$5.10 vs. $5.05 consensus.
- Operating cash flow is now expected to be $3.0 billion due to higher working capital from increased sales and continued supply chain constraints.
- Capital spending was reduced to approximately $525 million and free cash flow is now expected to be $2.5 billion.
- Share repurchase is expected to be approximately $500 million.
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Emerson Electric Non-GAAP EPS of $1.38 beats by $0.09, revenue of $5.0B misses by $100M, raises FY22 EPS guidance