Emerson announced results for the third quarter of the company’s fiscal year ended June 30, 2023, and updated its full-year guidance for continuing operations.

Emerson will also declare a quarterly cash dividend of $0.52 per common share on September 11, 2023 to shareholders of record on August 11, 2023.

Quarterly results summary

Third quarter net sales of $3.9 billion
Year-on-year growth of 14 per cent and underlying sales growth of 14 per cent
Underlying orders rose 3 per cent
Pre-tax profit margin in the third quarter was 19.3 per cent, up 840 basis points year-on-year

XVME-660/716

Adjusted EBITA was 26.9%, up 370 basis points year over year
GAAP earnings per share of $1.03, up 171% year over year
Adjusted earnings per share were $1.29, up 40% from a year earlier
Cash flow from operations was $842 million, up 76% from the previous year
Free cash flow was $769 million, up 83% year over year
Lal Karsanbhai, President and Chief Executive Officer of Emerson, said: “Emerson continued to perform well this quarter, driven by our highly differentiated capabilities and product portfolio, with sustained underlying sales growth and solid financial and operational results. As a leading automation company, we continue to drive growth and profitability based on our Emerson Management System and the operational execution of our global team of excellence.

Our performance over the past nine months reflects our technological strength and strategic advantage in attractive end markets. As we close fiscal 2023 and look to the new fiscal year, Emerson is uniquely positioned to leverage its strong capabilities and long-term customer relationships to attract investments in energy security and affordability, sustainability and decarbonization, digital transformation, and nearshore outsourcing. We look forward to continuing to create shareholder value while maintaining the momentum of our business.”