Summary
Emerson Electric Co. filed an 8-K on July 29, 2003, primarily to provide an update on its underlying order trends and announce upcoming investor events. The company reported that its total underlying orders for the trailing three-month period ending June 2003 showed a slight positive growth of 0 to +5 percent year-over-year. While this overall trend was encouraging, the underlying business performance, excluding currency fluctuations, acquisitions, and divestitures, indicated a slight decline, primarily due to continued weakness in North America. Key segments like Process Control and Industrial Automation showed mixed results, with international demand proving stronger than North America. The Electronics and Telecommunications segment continued to face headwinds from broad weakness in that market. Investors were also informed of a webcast presentation by CEO David N. Farr on July 31, 2003, and the upcoming release of third-quarter results on August 5, 2003, along with a subsequent investor conference call. The filing offers a snapshot of the company's operational performance and upcoming communication channels for investors.
Key Highlights
- 1Emerson Electric reported a slight positive growth in total underlying orders (0 to +5 percent) for the trailing three months ending June 2003.
- 2Underlying order trends, excluding currency, acquisitions, and divestitures, showed a slight decline, impacted by weakness in the North American market.
- 3Favorable currency exchange rates positively impacted June orders by approximately 5 percent.
- 4Process Control and Industrial Automation segments showed steady international demand but softness in North America.
- 5Electronics and Telecommunications orders remained weak due to ongoing issues in the telecommunications market.
- 6The company announced a webcast of CEO David N. Farr's presentation on July 31, 2003.
- 7Emerson Electric scheduled its third-quarter results announcement and investor conference call for August 5, 2003.