Emerson Electric Boosts FY22 Outlook; Declares Dividend - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Emerson Electric Co. (EMR) raised its earnings and net sales growth guidance for the full-year 2022, based on strong demand in both of its platforms. The company also provided outlook for the second quarter.

For fiscal 2022, the company now projects earnings in a range of $4.71 to $4.86 per share and adjusted earnings in a range of $4.90 to $5.05 per share on a net sales growth of 6 to 8 percent and underlying sales growth of 7 to 9 percent.

Previously, the company expected earnings in the range of $4.21 to $4.36 per share and adjusted earnings in the range of $4.82 to $4.97 per share on a net sales growth of 5 to 7 percent and underlying sales growth of 6 to 8 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.91 per share on a sales growth of 6.7 percent to $19.45 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company expects earnings in a range of $0.98 to $1.03 per share and adjusted earnings in a range of $1.15 to $1.20 per share on a net sales growth of 4 to 6 percent and underlying sales growth of 6 to 8 percent.

The Street is looking for earnings of $1.19 per share on sales of $4.77 billion for the quarter.

The company's board of directors also declared the regular quarterly cash dividend of $0.515 per share of common stock, payable on March 10, 2022 to stockholders of record on February 11, 2022.