Software company Emerson Electric Co. (NYSE: EMR) reported financial results for the fourth quarter of 2023. The company also declared a quarterly cash dividend of $0.525 per share.
- Fourth-quarter net sales increased 5% annually to $4.09 billion from $3.89 billion last year; underlying sales were up 5%
- Earnings, on a reported basis, jumped 49% from last year to $1.22 per share in the September quarter
- Adjusted profit was $1.29 per share, which is up 21% from $1.07 per share reported in the prior-year quarter
- The company said it expects net sales to grow between 13% and 15.5% in the whole of fiscal 2024
- Full-year profit, including special items, is expected to be in the range of $3.82 per share to $4.02 per share
- The guidance for 2024 adjusted earnings per share is $5.15-$5.35
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