Summary
Emerson Electric Co. (EMR) filed an 8-K on April 25, 2017, to provide an update on its 3-month order trends and announce upcoming investor events. The company reported that trailing three-month orders increased by 4% in March 2017, marking the third consecutive period of positive growth. This improvement was attributed to strengthening market conditions, with Automation Solutions seeing mid-teens growth in North America driven by oil and gas MRO and downstream turnaround bookings. Commercial & Residential Solutions also experienced broad strength across Asia and Europe, alongside favorable oil and gas and construction markets in North America.
Key Highlights
- 1Emerson reported a 4% increase in trailing three-month orders for March 2017, indicating a positive trend for the third consecutive period.
- 2Underlying trailing three-month orders also grew by 4%, excluding currency translation impacts.
- 3Automation Solutions segment showed improvement, particularly in North America with mid-teens growth attributed to oil and gas MRO and downstream turnarounds.
- 4Commercial & Residential Solutions benefited from broad strength in Asia and Europe and favorable North American construction and oil and gas markets.
- 5The company announced its second quarter 2017 earnings release and conference call for May 2, 2017.
- 6Emerson's CEO is scheduled to present at the Electrical Products Group Conference on May 24, 2017.