EMERSON BOOSTS 2024 PROFIT VIEW ON MEASUREMENT TOOLS DEMAND
On Wednesday, Emerson, an engineering solutions firm, raised its full-year profit forecast, anticipating steady demand in its unit that manufactures valves, regulators, and actuators. The company's measurement and analytical devices have experienced sustained demand from manufacturers and end customers across the chemical, oil, and gas industries. Additionally, strength in its factory control software helped offset a decline in automation demand.
Based in St. Louis, Missouri, Emerson now anticipates full-year adjusted earnings per share to be between $5.40 and $5.50, up from its previous projection of $5.30 to $5.45. In the second quarter, sales at its discrete automation unit declined approximately 7% to $632 million. However, overall quarterly revenue increased by about 17% to $4.38 billion, surpassing expectations of $4.29 billion.
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