Earnings Summary: Emerson Electric (EMR) reports Q2 2024 financial results

Software company Emerson Electric Co. (NYSE: EMR) on Wednesday reported higher net sales and adjusted earnings for the second quarter of 2024.

• Second-quarter net sales increased 17% annually to $4.38 billion from $3.76 billion last year; underlying sales were up 8%
• Earnings, on a reported basis, decreased 5% from last year to $0.87 per share in the March quarter
• Q2 adjusted profit was $1.36 per share, which is up 25% from $1.09 per share reported in the prior-year quarter
• The company said it expects net sales to grow between 11% and 12.5% in the third quarter of 2024
• For the full fiscal year, it expects net sales to increase in the range of 15% to 16%
• Full-year profit, including special items, is expected to be in the range of $2.98 per share to $3.08 per share
• The guidance for fiscal 2024 adjusted earnings per share is $5.40-$5.50