Underlying sales +3%; underlying orders growth has been 3-4% for a number of months.
Sales breakdown: Process-management +7.6%, Industrial Automation +1.1%, Network Power -11%, Climate Technologies +4.5%.
Geographic breakdown: U.S. +3%, Asia +10%, Europe flat; growth was strong in emerging markets, led by China with an increase of 14%.
"Although uneven across markets, overall global demand reflects slowly improving business confidence and macroeconomic momentum, particularly in Europe," says Chairman and CEO David Farr.
Emerson reiterates its 2014 guidance for EPS of $3.68-3.80 vs consensus of $3.81, underlying sales growth of 3-5%, and net sales of between -1% and +1% (PR)