Summary
This Form 8-K filing from Emerson Electric Co. (EMR) on September 24, 2010, provides a positive update on the company's underlying order trends for August 2010. Emerson reported that total company orders were strong, increasing by approximately 10-15% year-over-year for the trailing three-month period ending August 2010. This growth was driven by robust performance across key segments, particularly Industrial Automation, Process Management, and Network Power. The report also highlights segment-specific order performance, noting continued strengthening in Process Management driven by MRO activity and small projects, and sustained strong growth in Industrial Automation. While Climate Technologies' growth moderated from previous high levels, it still showed positive momentum, especially in Asia and global refrigeration markets. The company also provided details on an upcoming investor call scheduled for November 2, 2010, to discuss fourth quarter and full fiscal year 2010 results.
Key Highlights
- 1Emerson Electric Co. reported strong underlying order growth for August 2010, with total company orders up approximately 10-15% year-over-year on a trailing three-month average basis.
- 2Key growth drivers included the Industrial Automation, Process Management, and Network Power segments, all of which exhibited strong order increases.
- 3Process Management orders benefited from increased MRO activity and smaller projects across various geographies.
- 4Industrial Automation saw particular strength in electrical drives, power generating alternators, power transmission, and materials joining businesses.
- 5Climate Technologies' order growth moderated from peak levels but remained positive, led by Asian markets and global refrigeration.
- 6The company is planning to sell its motors and appliance controls businesses, which have been reclassified as discontinued operations.
- 7Emerson announced an investor conference call for November 2, 2010, to discuss its Q4 and full fiscal year 2010 results.