Emerson Electric Shares Gain On Q3 Beat, Raised FY23 Outlook
Portfolio Pulse from Akanksha Bakshi
Emerson Electric Co (NYSE:EMR) reported a 14% YoY increase in net sales to $3.95 billion in Q3 FY23, beating the consensus of $3.89 billion. Adjusted EPS improved 40% YoY to $1.29, surpassing the consensus of $1.09. The company raised its FY23 outlook, expecting net sales growth of ~10.5% and an adjusted EPS of $4.40 - $4.45. EMR shares are trading higher by 3.57% at $94.90 premarket on Wednesday.
August 04, 2023 | 11:18 am
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POSITIVE IMPACT
Emerson Electric Co reported strong Q3 FY23 results, beating estimates and raising its FY23 outlook. This positive news has led to a premarket increase in EMR shares.
Emerson Electric Co reported better than expected Q3 FY23 results and raised its FY23 outlook. This positive financial performance is likely to increase investor confidence, leading to a short-term increase in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100