Emerson sales up 1%
Emerson announced that net sales for the second quarter increased 1 percent to $6.0 billion.
Sales reflected mixed results across end markets and geographies, but slow economic growth overall as business investment stalled, particularly in mature markets.
Net earnings increased 3 percent to $561 million, or 77 cents per share, from $545 million, or 74 cents, in the same period last year.
“Economies around the world are struggling for momentum,” said chairman and chief executive officer David N. Farr. “Demand slowed in the second half of the quarter as overall global business confidence deteriorated. We do not see a catalyst to economic growth over the next six to nine months.”
Industrial Automation sales decreased 6 percent, with the U.S. down 1 percent, Europe down 15 percent, and Asia down 3 percent, as end markets for global capital goods remained under pressure. The power generating alternators and industrial motors and electrical drives businesses were particularly weak, partially offset by strength in the hermetic motors business which was driven by HVAC compressor demand.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
