Emerson Electric Q3 Adj. Profit Tops View - Quick Facts

(RTTNews) - Emerson Electric Co. (EMR), a diversified technology company, reported Tuesday third quarter net earnings attributable to common shareholders of 410 million or $0.58 per share, compared to $795 million or $1.10 per share in the comparable quarter last year.

Excluding charges, earnings rose to $1.30 per share from $1.18 per share last year. On average, 24 analysts polled by Thomson Reuters expected earnings of $1.23 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the latest third quarter edged down to $6.807 billion from $6.812 billion last year, while underlying sales grew 4 percent. Analysts expected sales of $6.81 billion.

Looking ahead for fiscal 2015, the company said strong underlying orders, up 9 percent in the quarter, and record year-end backlog of $6.7 billion support the outlook for improved underlying sales growth in the near term.

Based on current conditions, the company expects underlying sales to grow between 4 and 5 percent next year, better than in 2014, with unfavorable currency translation and the potential power transmission divestiture deducting 2 percent each, for a reported sales change of 0 to 1 percent. Profitability is expected to continue to improve modestly.