Emerson Raises FY18 Outlook - Quick Facts

(RTTNews) - Emerson Electric Co. (EMR) on Tuesday raised its fiscal 2018 earnings and sales guidance based on strong performance and one-time tax benefit.

The company now expects full year earnings in a range of $3.30 to $3.40 per share and sales growth is now expected to be about 14 percent.

Previously, the company projected earnings in the range of $3.10 to $3.20 per share on sales growth of about 13 percent.

On average, analysts polled by Thomson Reuters expect earnings of $3.16 per share on sales of $17.29 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, net earnings from continuing operations declined to $419 million or $0.63 per share from $719 million or $1.12 per share in the prior-year quarter. Adjusted earnings from continuing operations were $0.63 per share, compared to last year's $0.88 per share.

Net sales of $4.5 billion increased 10 percent, or 8 percent on an underlying basis, excluding favorable currency of 1 percent and an impact from acquisitions net of divestitures of 1 percent.

Analysts expected earnings of $0.86 per share on sales of $4.47 billion for the quarter.