Summary
This 8-K filing from Emerson Electric Co. (EMR), dated February 27, 2007, provides an update on underlying orders for the trailing three months ending January 2007, alongside details of upcoming investor events. The overall order growth for Emerson remained positive, showing a 5-10% increase year-over-year in the aggregate for November, December, and January. This growth was primarily driven by strong performance in the Process Management and Industrial Automation segments, benefiting from robust capital spending in energy markets and industrial sectors, respectively, with favorable currency exchange rates also contributing positively. While the company experienced broad-based positive order trends, the Climate Technologies segment showed continued, albeit improving, negative order growth. The Appliance and Tools segment maintained modest positive growth. Investors should note the upcoming participation in the Citigroup Global Industrial Manufacturing Conference on March 7, 2007, where the Chief Operating Officer will present, offering an opportunity for further insights into the company's performance and outlook.
Key Highlights
- 1Emerson Electric Co. reported a consolidated underlying order growth of 5-10% for the trailing three months ending January 2007, compared to the prior year.
- 2Process Management orders showed strong performance (+15% in January 2007), driven by capital spending in global energy markets.
- 3Industrial Automation orders remained at high levels (+10-15% in January 2007), boosted by strong European demand and favorable currency effects.
- 4Network Power order growth moderated to 5-10% in January 2007, with continued strength in UPS, precision cooling, and China power systems.
- 5Climate Technologies orders remained negative but showed modest improvement, moving from -10 to -15% in November to -5 to 0% in January.
- 6Appliance and Tools orders maintained a stable 0-5% growth range, with tools offsetting softness in other areas.
- 7Favorable currency exchange rates contributed approximately 3 percentage points to order growth in January 2007.
- 8Emerson Electric Co. announced its participation in the Citigroup Global Industrial Manufacturing Conference on March 7, 2007.