Emerson Lowers Full-year GAAP EPS Guidance - Quick Facts

(RTTNews) - Emerson (EMR) said the company reduced the high end of the 2019 GAAP earnings per share range by 5 cents, which reflects lowered sales expectations, somewhat offset by improvement in the estimated full-year tax rate. Underlying sales growth is projected in a range of 4 - 5.5%, for the full year.

For the second-quarter, GAAP earnings per share were $0.84, up 11 percent versus prior year. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.84 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net sales were $4.57 billion increased 8 percent, or 4 percent on an underlying basis. Analysts expected revenue of $4.64 billion for the quarter.

For 2019, Emerson projects GAAP EPS in a range of $3.60 to $3.70. Analysts expect the company to report profit per share of $3.69.