Emerson FY24 Outlook: Adj. EPS $5.30 - $5.45 (Prior $5.15-$5.35) Vs. $5.26 Estimate, GAAP EPS $2.80 - $2.95 Vs. $4.20 Estimate, Revenue Growth 14.5% - 17%
Portfolio Pulse from Benzinga Newsdesk
Emerson Electric Co. (EMR) has updated its FY24 outlook, raising its adjusted EPS guidance to $5.30 - $5.45 from the previous $5.15-$5.35, surpassing the $5.26 estimate. GAAP EPS is expected to be $2.80 - $2.95, below the $4.20 estimate. Revenue growth is projected at 14.5% - 17%. The company plans to return approximately $500 million to shareholders through share repurchases and $1.2 billion in dividend payments.
February 07, 2024 | 12:01 pm
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Emerson Electric Co. (EMR) raises its FY24 adjusted EPS guidance to $5.30 - $5.45, above the analyst estimate of $5.26, and plans significant shareholder returns through dividends and share repurchases.
The upward revision of Emerson's FY24 adjusted EPS guidance above market estimates and the commitment to return capital to shareholders through dividends and share repurchases are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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