Emerson Sees FY EPS Of $3.05 To $3.25, Q4 Profit Rises Despite Revenue Drop

(RTTNews) - Emerson (EMR), a provider of technology and engineering solutions, said it expects adjusted earnings per share to be approximately $3.05 to $3.25 versus $3.17 in 2015.

Reported earnings per share are expected to be $2.50 to $2.85. Analysts expect earnings of $3.22 per share for the year.

For the fourth quarter, attributable earnings climbed to $648 million from $410 million reported last year. Earnings per share were $0.98, compared to $0.58 last year.

Adjusted earnings per share were $0.93, while it was $1.30 last year. On average, 25 analysts polled by Thomson Reuters expected earnings of $0.97 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales fell 15 percent to $5.814 billion from $6.807 billion. Underlying sales declined 7 percent excluding unfavorable currency translation of 6 percent and a 2 percent impact from the divestiture of the Power Transmission Solutions business. Analysts expected revenues of $5.83 billion.