© Reuters.
Emerson (NYSE:) Electric Co. witnessed a downturn in its stock by 9% to $83.42 on Tuesday, following the announcement of its Q4 results that fell short of FactSet analyst predictions. This marks a 13% overall decrease in the company’s stock value for this year.
The St. Louis-based firm reported a marginal profit increase to $744 million, up from $740 million recorded in the previous year. Earnings from continuing operations also saw an uptick from 82 cents to $1.22 per share.
However, the company’s adjusted earnings, which account for one-time items, stood at $1.29 per share, failing to meet the projected figure of $1.31.
Sales for Emerson Electric grew by 5% to reach $4.09 billion, but still missed the anticipated mark of $4.2 billion.
Looking ahead, Emerson has forecasted adjusted earnings of between $5.15 and $5.35 per share for the next fiscal year.
InvestingPro Insights
Drawing from real-time data from InvestingPro, Emerson Electric Co. (EMR) has a market capitalization of 48.27 billion USD, with a P/E ratio of 3.69. The company has experienced significant revenue growth, with a 39.93% increase in the last twelve months as of Q3 2023. Its operating income for the same period stands at 4029 million USD.
InvestingPro Tips indicates that Emerson’s management has been actively buying back shares, and the company holds more cash than debt on its balance sheet. This, along with the fact that the company has consistently increased its earnings per share and has a high shareholder yield, demonstrates a strong financial position. Furthermore, Emerson has a commendable track record of maintaining dividend payments, having raised its dividend for 52 consecutive years.
For investors seeking more comprehensive insights, InvestingPro offers an additional 9 tips related to Emerson Electric. These tips, along with real-time data, can provide valuable guidance for potential investors and current shareholders alike.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here