Summary
This 8-K filing from Emerson Electric Co. (EMR) on November 25, 2013, provides an update on the company's orders growth for the trailing three months ending October 2013. Overall, the company experienced modest, low-single-digit orders growth, reflecting a slightly favorable but mixed macroeconomic environment. Emerging markets showed stronger performance than mature markets across most segments. Key segments like Process Management and Climate Technologies demonstrated positive momentum, driven by global energy investments and refrigeration/air conditioning market recoveries, respectively. While Industrial Automation saw modest growth, Network Power's performance (excluding a divested business) was supported by data center investments, though market conditions in the Americas were soft. Commercial & Residential Solutions benefited from a strong U.S. residential market. Investors should note the company will be presenting at the Credit Suisse Industrials Conference on December 5, 2013.
Key Highlights
- 1Emerson Electric Co. reported modest overall orders growth of 0 to +5% for the trailing three months ending October 2013, indicating a slightly favorable macroeconomic trend.
- 2Emerging markets generally outperformed mature markets across Emerson's business segments.
- 3Process Management orders growth was robust, particularly in Asia (led by China) and Latin America, driven by energy and chemical investments.
- 4Climate Technologies experienced moderate growth due to recovering global refrigeration markets and increased air conditioning demand in Asia and the Middle East/Africa.
- 5Industrial Automation orders increased modestly, with growth in the U.S. and Asia offsetting weakness in Europe.
- 6Network Power orders (excluding a recently divested business) grew moderately, supported by data center and telecommunications infrastructure investments in Asia and Europe.
- 7Emerson's Chairman and CEO, David N. Farr, is scheduled to present at the Credit Suisse Industrials Conference on December 5, 2013.