Emerson Electric Co. (NYSE:EMR) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure
The following information is furnished to Regulation FD.
Emerson 3-Month Orders
(Percentage change versus prior year; trailing 3-month averages, excluding acquisitions and divestitures, including currency translation)
September '17 |
October '17 |
November '17 |
|
Automation Solutions |
15 to 20 |
15 to 20 |
|
Commercial & Residential Solutions |
5 to 10 |
5 to 10 |
|
Total Emerson |
10 to 15 |
10 to 15 |
15 to 20 |
November 2017 Orders Comments
Emerson trailing three-month orders increased 16 percent. Underlying orders increased 11 percent excluding favorable currency translation of 5 percent.
Automation Solutions orders increased 20 percent with underlying orders up 13 percent excluding favorable currency translation of 7 percent. Orders growth reflected broad-based momentum across end markets driven by strong MRO demand and growth of small and mid-sized projects focused on expansion and optimization of existing facilities. Demand was led by North America, driven by continued favorable trends in energy, life sciences and chemical markets. Asia orders increased low-double digits led by China. Europe orders declined moderately. Latin America demand appears to be stabilizing, due mainly to upstream and midstream opportunities in Mexico and increased investment activity in Argentina and Chile. Robust growth in Middle East/Africa reflects pent-up demand in upstream, refining and chemical markets.
Commercial & Residential Solutions underlying orders were up high-single digits. Growth was led by Asia, driven by strong demand across the region in air conditioning and refrigeration markets. Demand in North America was favorable, reflecting continued growth of professional tools in oil and gas and construction related markets, increased industrial refrigeration demand and stable conditions in air conditioning markets. Europe orders declined moderately.
Upcoming Investor Events
On Tuesday, February 6, 2018, Emerson will report first quarter 2018 results. Management will discuss the results during a conference call at 2:00 p.m. ET the same day. Access to a live webcast of the discussion will be available at www.emerson.com/financial at the time of the call. A replay of the conference call will remain available for approximately three months.
On Thursday, February 15, 2018, Emerson will host its annual investor conference in New York, NY. The conference will begin Thursday morning with Company presentations from 8:30 a.m. CT to approximately 1:00 p.m. CT. Access to a live webcast of the presentations will be available at www.emerson.com/financial at the time of the event. A replay of the conference will remain available for approximately three months.
Forward-Looking and Cautionary Statements
Statements in this Current Report on Form 8-K that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. Underlying orders discussed herein exclude the impact of currency translation.
About Emerson Electric Co. (NYSE:EMR)
Emerson Electric Co. is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions. The Company’s principal production operations are electronics assembly, metal stamping, forming, casting, machining, welding, plating, heat treating, painting and assembly. In addition, the Company uses specialized production operations, including automatic and semiautomatic testing, automated material handling and storage, ferrous and nonferrous machining, and special furnaces for heat treating and foundry applications. The Company provides measurement, control and diagnostic technologies for automated industrial processes.