Margins improved versus prior year, excluding the impact of recent acquisitions, driven by leverage on higher sales and the benefit of prior year restructuring actions. Reported pretax margin of 15.5% and EBIT margin of 16.3% decreased 30 and 70 basis points, respectively. EBIT margin of 18.7% increased 170 basis points excluding Valves & Controls. GAAP earnings per share from continuing operations increased 31% to $0.76.
“Our second quarter results close out an excellent first half in which strong global markets drove underlying growth, and our businesses delivered healthy incremental margins and earnings that exceeded our expectations,” said David N. Farr, chairman and CEO. “Across the company, our teams are executing well, and have positioned Emerson to deliver strong earnings and cash flow growth in 2018.”