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Emerson Electric Co. (EMR)

- NYSE
  • Thu, Jan. 22, 8:22 AM
    • BofA/Merrill has downgraded Emerson Electric (NYSE:EMR) to Underperform from Neutral on expectations that organic growth will decline in 2016 and 2017.
    • The firm also lowered its PT on the stock to $62 from $66.
    | 6 Comments
  • Tue, Jan. 13, 10:58 AM
    • Emerson Electric (EMR +0.9%) will report FQ1 results on Feb. 3. The conference call is scheduled to begin at 2:00 p.m. ET.
    • Consensus view is revenues of $5.6B.
    | Comment!
  • Dec. 15, 2014, 7:42 AM
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  • Dec. 12, 2014, 5:08 PM
    • Emerson Electric (NYSE:EMR) is near a sale of its power transmission solutions unit to Regal Beloit (NYSE:RBC) in a deal that would value the business at more than $1.2B, WSJ reports.
    • The unit designs and produces couplings, bearings, gearing and drive components, among other items, for automotive, aeronautic and industrial use.
    | Comment!
  • Dec. 1, 2014, 5:49 PM
    • General Electric (NYSE:GE) was the day's biggest loser among the Dow 30, as J.P. Morgan analysts Stephen Tusa and Rajat Gupta include GE among among industrial companies confronted with big risks through their exposure to oil drilling.
    • "The game has changed," the analysts say in now seeing a spread in EPS growth between those that have material exposure to energy and those that do not to a range of ~800 bps; regarding GE, JPM drops oil/gas growth to -2% from +5% and power/water growth to zero from +3% on the back of distributed power weakness, which it pegs at mid-single digit declines for two years, along with the onset of a decline in gas turbines.
    • The firm also downgrades Dover (NYSE:DOV) to Underweight, reaffirms its Underweight on Rockwell Automation (NYSE:ROK), and continues to avoid Emerson Electric (NYSE:EMR), SPX Corp. (NYSE:SPW) and GE; it still likes a few with oil/gas exposure, such as Pentair (NYSE:PNR) given ongoing execution/margin potential, and Honeywell (NYSE:HON), given less direct impact and a strong balance sheet story.
    | 26 Comments
  • Nov. 24, 2014, 3:43 PM
    • Twenty-two spinoffs have been completed in 2014, the most in a decade, and another 28 have been announced. Among the catalysts are activist investors, so Credit Suisse screened for companies with multiple business segments, slow growth, and stocks trading for lower multiples than peers, in other words, "good, quality companies that are struggling to grow."
    • The list is heavy on big media names like Time Warner (NYSE:TWX) and Twenty-First Century Fox (NASDAQ:FOXA), big tech like Oracle (NYSE:ORCL), Symantec (NASDAQ:SYMC), and IBM, and big industry like Lockheed Martin (NYSE:LMT), Ingersoll-Rand (NYSE:IR), and Raytheon (NYSE:RTN), but just two financial names - Travelers (NYSE:TRV) and Torchmark (NYSE:TMK).
    • The rest: MO, CA, WU, DPS, PBI, SJM, HRS, SWK, EMR, WLP, MAT, GE, SNA, LLL, ITW, STJ, PDCO, HPQ, DLPH, HAS, NAVI, GME, CBS, JNJ, SLB.
    | 18 Comments
  • Nov. 4, 2014, 2:40 PM
    | Comment!
  • Nov. 4, 2014, 8:05 AM
    • Net earnings attributable to common shareholders of 410M vs. $795M in the comparable quarter a year ago. Excluding charges, earnings rose to $1.30 per share from $1.18 per share last year.
    • Revenue by segment: Process Management +8%; Industrial Automation +5%; Network Power -20%; Climate Technologies +7%; Commercial & Residential Solutions +5%.
    • Cash returned to shareholders through dividends and share repurchase exceeded 60% for the fourth consecutive year.
    • Year-end backlog of $6.7B.
    • The company expects underlying sales to grow between 4-5% next year, better than in 2014. Due to unfavorable currency translation and the potential power transmission divestiture deducting 2% each, reported sales are expected to change 0-1%. Profitability is expected to continue to improve modestly.
    • FQ4 results
    | 1 Comment
  • Nov. 4, 2014, 7:11 AM
    • Emerson Electric (NYSE:EMR): FQ4 EPS of $1.30 beats by $0.07.
    • Revenue of $6.81B in-line (flat Y/Y).
    • Press Release
    | Comment!
  • Nov. 3, 2014, 5:30 PM
  • Oct. 16, 2014, 3:17 PM
    • Timken (TKR -0.2%), Regal Beloit (RBC +0.9%) and Altra Industrial Motion (AIMC +0.6%) have made it to the second round of bidding in the auction for Emerson Electric's (EMR +2%) power transmission solutions business, Reuters reports.
    • P-E firms Warburg Pincus and Onex also are said to be in the running for the unit, which is expected to fetch $1.2B-$1.6B in a sale.
    | Comment!
  • Sep. 22, 2014, 11:04 AM
    • Emerson Process Management, a global business of Emerson (EMR -1.2%), has been selected by Canada’s North West Redwater Partnership to provide automation services and technology for its Sturgeon refinery in Edmonton, Alberta.
    • The facility will capture CO2 emissions and sell them to traditional oil extraction operations. The method is expected to reduce emissions by 1.2M tons per year from the first phase of the refinery.
    • Expected value of the contract to Emerson is approximately $86M.
    | Comment!
  • Sep. 2, 2014, 3:31 PM
    • General Electric (GE -0.4%) reportedly is among those preparing binding offers for Italian valve maker Petrolvalves, with Emerson Electric (EMR +0.4%) also considered a "motivated" bidder which could also participate in the final round of the company's auction.
    • The offers could value the Italian company at more than €1B ($1.31B), according to Reuters.
    • Petrolvalves is said to have set a deadline for binding offers towards the end of September in an attempt to sign a deal later this year.
    | Comment!
  • Aug. 6, 2014, 12:19 PM
    • General Electric (GE +1.8%) is upgraded to Outperform from Market Perform with a $33 price target, up from $29, at Bernstein,which offers five reasons for favoring the stock.
    • The firm sees growing evidence of portfolio and cultural transformation at GE resulting in accelerating cost reduction and the most Industrial focused mix in almost 25 years, as well as coming catalysts in the GE calendar through 2015 as backlog converts into the back half.
    • Trading at 15.1x the next 12 months of earnings for its industrial business, GE is cheaper than most other industrials, including Danaher (NYSE:DHR) at 21.7x, 3M (NYSE:MMM) at 17.8x, and Emerson Electric (NYSE:EMR) at 16x, the firm says.
    | 3 Comments
  • Aug. 5, 2014, 8:36 AM
    • Net earnings attributable to common shareholders of $728M ($1.03 per share) vs. $194M ($0.27 per share) in the second quarter of 2013.
    • Net sales declined 1% to $6.3B.
    • Due to the slower economic environment this year, the company expects to report on the lower end of its 2014 guidance of 3-5% percent underlying sales growth, +/-1% net sales change, and earnings per share of $3.68 to $3.80.
    • Q2 results
    • EMR -2% premarket
    | Comment!
  • Aug. 5, 2014, 7:23 AM
    • Emerson Electric (NYSE:EMR): FQ3 EPS of $1.03 misses by $0.03.
    • Revenue of $6.3B (-0.6% Y/Y) misses by $150M.
    • Press Release
    | Comment!
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Company Description
Emerson Electric Co is engaged in designing and supplying products and technology, and delivering engineering services and solutions in industrial, commercial and consumer markets.