Emerson Reports 3Q 2024 Results

Emerson reported results for its third quarter ended June 30, 2024 and updated its full year outlook for fiscal 2024. Emerson also declared a quarterly cash dividend of $0.525 per share of common stock payable Sept. 10, 2024 to stockholders of record on August 16, 2024.

Net sales were $4,380 million, an increase of 11% from Q3 2023. Adjusted segment EBITA was $1,189 million, up from $1,060 million, while free cash flow was $975 million, up 20% from Q3 2023.

“Emerson delivered another strong quarter, with solid underlying orders growth and with profitability and cash flow both exceeding expectations,” said Lal Karsanbhai, Emerson president and CEO. “Demand in process and hybrid markets, led by a constructive capex cycle, continues to meet expectations. Our operating leverage performance demonstrates the benefits of our highly differentiated technology and world-class Emerson Management System, giving us the confidence to execute on our plan for 2024.

“In the quarter, we also took another important step to simplify our portfolio and enhance our focus as a global leader in automation with the definitive agreement to completely exit the Copeland business,” Karsanbhai continued. “Emerson is creating value for our shareholders as we execute with our higher growth and higher margin automation portfolio.”