8-KOther Events

EMERSON ELECTRIC CO 8-K Report (Sep 23, 2003)

Filed September 23, 2003For Securities:EMR

Summary

This 8-K filing from Emerson Electric Co. (EMR), dated September 23, 2003, provides an update on the company's underlying order trends for the three months ending August 2003. The overall "Total Emerson" orders showed a modest positive growth of 0% to +5% for the trailing three-month average, indicating stability. However, performance varied across segments. While Process Control orders experienced a slight decline, Industrial Automation showed mixed results with steady international demand offset by North American weakness. Electronics and Telecommunications, along with HVAC, demonstrated positive momentum, particularly in international markets like China for HVAC. Appliance and Tools segment faced softness. The filing also notes a 2% positive impact from favorable currency exchange rates on August orders and announces an upcoming investor conference call for fourth quarter and fiscal year 2003 results on November 4, 2003.

Key Highlights

  • 1Overall Emerson orders show stable growth of 0% to +5% on a trailing 3-month average basis.
  • 2Process Control segment experienced a decline in orders, particularly impacted by softness in North America.
  • 3Industrial Automation orders were mixed, with international markets strong but North America weak.
  • 4Electronics and Telecommunications orders remained positive, driven by OEM and systems businesses.
  • 5HVAC orders saw increases, boosted by North America and strong performance in China and Asia.
  • 6Favorable currency exchange rates provided an approximate 2% positive impact on August orders.
  • 7Emerson announced its Q4 and FY 2003 earnings conference call for November 4, 2003.

Frequently Asked Questions

Emerson Electric reported a stable overall order trend for the trailing three-month average, showing a growth of 0% to +5%. This indicates a consistent, albeit modest, level of demand across the company during this period.

Segments showing positive order trends included Electronics and Telecommunications and HVAC, with HVAC benefiting from strength in North America, China, and the rest of Asia. Appliance and Tools orders reflected softness, particularly in commercial businesses. Process Control orders experienced a decline, influenced by North American and short-cycle order weakness.

Favorable currency exchange rates had a positive impact on Emerson's August orders, contributing approximately 2 percent to the reported figures. This suggests that international sales were potentially more robust when translated into U.S. dollars.

Emerson Electric will announce its fourth quarter and fiscal year 2003 results on Tuesday, November 4, 2003. A conference call for investors to discuss these results will be held on the same day, beginning at 2:00 p.m. Eastern Time.