Emerson Electric Posts Strong Q3 Sales Growth, Updates 2024 Outlook
Portfolio Pulse from Lekha Gupta
Emerson Electric Co (NYSE:EMR) reported strong Q3 FY24 results with net sales growth of 11% Y/Y to $4.38 billion, beating the consensus of $4.29 billion. Adjusted EPS improved 11% Y/Y to $1.43, also beating the consensus of $1.42. Despite the positive results, EMR shares are trading lower by 3.6%. The company updated its FY24 outlook, expecting net sales growth of ~15% and adjusted EPS of $5.45-$5.50. Investors can gain exposure to EMR via ProShares S&P Kensho Smart Factories ETF (NYSE:MAKX) and Gabelli Automation ETF (NYSE:GAST).
August 07, 2024 | 1:55 pm
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Emerson Electric reported strong Q3 FY24 results with net sales growth of 11% Y/Y and adjusted EPS up 11% Y/Y, both beating consensus estimates. Despite the positive results, EMR shares are down 3.6%. The company updated its FY24 outlook, showing confidence in continued growth.
The strong Q3 results and positive outlook for FY24 indicate a solid performance and future growth potential. However, the immediate market reaction is negative, possibly due to profit-taking or other market dynamics.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Gabelli Automation ETF (GAST) provides exposure to Emerson Electric, which reported strong Q3 FY24 results. This could positively impact GAST's performance.
GAST holds Emerson Electric, which reported strong Q3 results. This could positively impact the ETF's performance, although the immediate market reaction to EMR is negative.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
ProShares S&P Kensho Smart Factories ETF (MAKX) provides exposure to Emerson Electric, which reported strong Q3 FY24 results. This could positively impact MAKX's performance.
MAKX holds Emerson Electric, which reported strong Q3 results. This could positively impact the ETF's performance, although the immediate market reaction to EMR is negative.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50