Emerson Electric (EMR) Tops Q2 EPS by 15c, Revenue Beats, Lowers FY EPS Guidance

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Go back to Emerson Electric (EMR) Tops Q2 EPS by 15c, Revenue Beats, Lowers FY EPS Guidance

Emerson Reports Second Quarter 2020 Results and Updates Full Year 2020 Guidance

April 21, 2020 6:55 AM EDT

Net sales of $4.2 billion were down 9 percent; underlying sales were down 7 percent as demand declined significantly in March due to the rapid spread of COVID-19 GAAP EPS was $0.84, flat versus prior year; adjusted EPS, which excludes restructuring and related costs, was $0.89, exceeding midpoint of management guidance of $0.81, as operational declines due to COVID-19 were more than offset by non-operating tailwinds and benefits of previously announced aggressive restructuring actions, which began in the third quarter of 2019 Delivered strong operating cash flow of $588 million in the quarter, up $55 million or 10... More