Summary
Emerson Electric Co. (EMR) filed an 8-K on November 6, 2012, to report its fourth quarter and full fiscal year 2012 results. The filing primarily provides investors with a press release detailing these financial outcomes. A key focus of the report is the company's performance metrics, including both GAAP and non-GAAP measures. Management emphasizes the utility of excluding impairment charges, interest, and taxes (EBIT) to provide a clearer view of ongoing operational performance and facilitate easier comparisons over time.
Key Highlights
- 1Emerson Electric Co. announced its fourth quarter and full fiscal year 2012 financial results via an 8-K filing on November 6, 2012.
- 2The report includes a press release (Exhibit 99.1) detailing the company's quarterly and annual performance.
- 3Emerson utilized non-GAAP financial measures in its reporting, including earnings and EPS excluding impairment charges.
- 4The company provided EBIT (Earnings Before Interest and Taxes) and EBIT margin as additional performance indicators.
- 5Management believes excluding impairment charges provides a more representative view of the company's underlying operational performance.
- 6These non-GAAP measures are intended to supplement, not replace, GAAP financial information.
- 7The press release refers to trailing three-month average order growth, excluding acquisitions and divestitures.
Frequently Asked Questions
The primary purpose of this 8-K filing is to publicly announce and provide details on Emerson Electric Co.'s financial results for the fourth quarter and the full fiscal year 2012, as presented in an accompanying press release.
Non-GAAP financial measures are financial metrics that are not calculated in accordance with Generally Accepted Accounting Principles (GAAP). Emerson uses measures like earnings and EPS excluding impairment charges, and EBIT, to offer additional insight into the company's ongoing operational performance and to facilitate period-to-period comparisons by excluding certain non-operational or non-recurring items.
No, investors should consider these non-GAAP measures as supplemental information. Emerson states that these should not be viewed as a substitute for or superior to the related financial information prepared in accordance with GAAP. They are intended to provide additional context alongside the official GAAP reporting.
In the context of the press release referenced in this filing, 'orders' refers to the company's trailing three-month average order growth compared to the prior year, specifically excluding the impact of acquisitions and divestitures.