Summary
Emerson Electric Co. (EMR) filed an 8-K on June 22, 2017, providing an update on its orders for the trailing three months ending May 2017. The report indicates a positive trend, with total Emerson orders increasing by 8% compared to the prior year, and underlying orders growing by 9% when excluding currency impacts. This growth was driven by both key business segments: Automation Solutions and Commercial & Residential Solutions. Automation Solutions saw high-single digit order growth, primarily fueled by North American oil and gas markets, particularly upstream and midstream MRO activities. Commercial & Residential Solutions also experienced high-single digit order growth, supported by steady demand in North American air conditioning and refrigeration, as well as positive trends in professional tools and international markets like Europe and Asia. The company also announced its upcoming investor event on August 1, 2017, to report third quarter 2017 results.
Key Highlights
- 1Total Emerson trailing three-month orders (ending May 2017) increased by 8% year-over-year.
- 2Underlying orders grew by 9%, excluding a 1% negative currency translation impact.
- 3Automation Solutions orders increased by high-single digits, driven by North American oil and gas (upstream and midstream MRO).
- 4Commercial & Residential Solutions orders also increased by high-single digits, supported by North American AC/refrigeration and international markets.
- 5Geographic strength noted in North America (oil & gas), Europe, and Asia for different segments.
- 6Emerson will report Q3 2017 results on August 1, 2017, with a conference call and webcast.
- 7The report contains forward-looking statements and reminds investors to consult the Company's 10-K for detailed risk factors.