EMR - Emerson Electric reports Q1 earnings double raises full-year guidance

Emerson Electric (NYSE:EMR) +0.5% pre-market after edging FQ1 earnings and revenue expectations and raising FY 2022 guidance, although the outlook remains short of Wall Street expectations. Q1 net income doubled to $896M from $445M in the year-earlier quarter, while net sales increased 8% Y/Y to $4.5B; cost of sales also rose 8% from a year earlier but below the 10% Y/Y increase reported in FQ4. By segment, Q1 net sales in the Automation Solutions (automation systems) unit rose 4.2% Y/Y to $2.81B and jumped 13% in the Commercial & Residential Solutions division (air conditioning and refrigeration products) to $1.67B. Q1 operating cash flow fell 35% to $523M and free cash flow fell 41% to $407M, reflecting higher inventory due to supply chain constraints, but the company said results are on track to meet full-year guidance issued in November. Citing anticipated strong demand in Automation Solutions and Commercial & Residential Solutions, Emerson raised

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Emerson Electric reports Q1 earnings double, raises full-year guidance