Summary
Emerson Electric Co. (EMR) filed a Current Report (8-K) on September 23, 2004, providing an update on its "Underlying Orders" for the three months ending August 2004. The report indicates continued strong order growth for the company, with total Emerson orders increasing between 10% to 15% compared to the prior year. Favorable currency exchange rates were a notable contributor, adding approximately 3.5 percentage points to this growth. While most segments demonstrated robust performance, the Electronics and Telecommunications segment experienced a moderation in order growth to +10% due to tougher year-over-year comparisons and softer demand in the OEM business. The HVAC segment also saw slower growth in the U.S. residential market, though global gains remained positive. The company also announced upcoming investor events, including a presentation at the Prudential Financial Conference and the release of its fourth quarter and fiscal year 2004 results, along with a subsequent investor conference call.
Key Highlights
- 1Total Emerson orders showed a consistent growth of 10% to 15% for the trailing three-month period ending August 2004.
- 2Favorable currency exchange rates positively impacted total order growth by approximately 3.5 percentage points.
- 3Process Control and Industrial Automation segments experienced strong order momentum across most businesses and regions.
- 4Electronics and Telecommunications orders moderated to 10% growth due to challenging prior-year comparisons and weaker OEM demand.
- 5HVAC orders continue to grow globally, with slower performance noted in the U.S. residential air conditioning market.
- 6Appliance and Tools segment reported increased orders across most businesses and regions.
- 7Emerson announced its Q4 and FY 2004 earnings release date as November 2, 2004, with a subsequent investor conference call.