Emerson Electric (EMR) Tops Q1 EPS by 15c, Revenues Beat; Offers FY21 EPS Guidance Above Consensus
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Emerson Reports First Quarter 2021 Results, Updates 2021 Outlook
February 2, 2021 7:00 AM ESTFirst quarter GAAP net sales of $4.2 billion were flat from the year prior; underlying sales were down 2 percent, which was ahead of management's November guidance. First quarter GAAP EPS was $0.74, up 40 percent from the year prior; adjusted EPS, which excludes restructuring and first year purchase accounting charges and fees, was $0.83, up 24 percent. Strong operating cash flow of $808 million in the quarter, up 90 percent; Free cash flow was $686 million, up 121 percent. Restructuring and related actions of $69 million were initiated in the quarter, continuing aggressive execution... More
