Summary
This 8-K filing from Emerson Electric Co. (EMR) provides an update on the company's order trends for the three months ending September 2013. Overall, Emerson reported modest order growth of 2%, consistent with the preceding months, indicating a continued, albeit uneven, global economic recovery. The report highlights improving trends in several key segments, including Process Management, Industrial Automation, and Climate Technologies. Notably, the exclusion of the Embedded Computing & Power business reveals a stronger underlying growth rate of approximately 4%, suggesting positive momentum in core operations.
Key Highlights
- 1Total Emerson orders grew by 2% for the trailing three months ending September 2013, consistent with prior periods.
- 2Excluding the Embedded Computing & Power business, underlying orders grew at a faster rate, approaching 4%, indicating positive momentum in core segments.
- 3Process Management orders saw robust growth of 4%, driven by investments in energy and chemical markets, particularly strong performance in China.
- 4Industrial Automation experienced its first underlying order growth since April 2012, signaling a moderate recovery in this previously weak segment.
- 5Network Power orders declined modestly, but the core Network Power Systems business showed positive growth, offset by the Embedded Computing & Power segment.
- 6Climate Technologies orders increased moderately, supported by strength in Europe and global refrigeration markets.
- 7Commercial & Residential Solutions demonstrated solid demand, especially in U.S. residential markets and specific product lines like professional tools and food waste disposers.