Technology company, Emerson Electric Co. (EMR) reported a sharp increase in profits on Tuesday, matching analysts’ estimates.
The St. Louis, MO based company reported fiscal first quarter earnings of $454 million, or 62 cents per share, up 18% from $371 million, or 50 cents per share last year. Analysts expected to see 62 cents per share.
Revenue for the quarter increased by 4.6% to $5.55 billion, from $5.31 billion last year.
The company reported that they saw a 6% upside in both Asia and the United States. This offset the -2% decline in Europe.
Looking ahead, EMR expects to see FY2013 earnings in the range of $3.53 to $3.63 per share. Analysts are expecting to see earnings of $3.59 per share with $25.05 billion in revenue.
Emerson Electric shares were mostly flat during premarket trading Tuesday. The stock has increased 9.5% in the past year.
The Bottom Line
Shares of EMR have a 2.85% yield, based on Monday’s closing price of $57.49 and the company’s annualized dividend payout of $1.64 per share.
Emerson Electric Co.(EMR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
FREE Dividend Stock Newsletter
Get the Dividend.com email newsletter to receive:
- A free copy of our acclaimed report, 5 Rules of Winning Dividend Stock Investing
- Free daily investing tips and picks from Dividend.com CEO Paul Rubillo
- Tons of great market analysis and recommendations