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    Breaking News

    Emerson Reports 3Q 2020 Results

    Year-to-date free cash flow was $1.53 billion, up $118 million or 8%.

    Emerson Reports 3Q 2020 Results
    Printed Electronics Now Staff08.12.20

    Emerson reported results for the third fiscal quarter ended June 30, 2020, and announced updated guidance for the full year.

     

    GAAP net sales of $3.9 billion were down 16%; underlying sales were down 15% as demand declined due to COVID-19. GAAP EPS was $0.67, down 31% from $0.97 in the year prior.

     

    The company delivered strong free cash flow of $738 million in the quarter and $1.53 billion year-to-date, up $118 million or 8% year-to-date

     

    Revenue declines were in-line with management expectations, as COVID-19 negatively affected nearly all end markets and geographies throughout the quarter.

     

    Third quarter gross profit margin of 41.3% was down 140 basis points from 42.7% due to manufacturing plant deleverage. Adjusted EBIT margin, which excludes restructuring and related charges, was 15.3% for the quarter, down 240 basis points.

     

    “Like many organizations, Emerson has been forced to rapidly adapt to the COVID-19 reality during the quarter, and I'm extremely proud of how the team rose to the challenge," said David N. Farr, Emerson chairman and CEO.

     

    “While sales results were in-line with expectations, profitability for the third quarter came in well above expectations, primarily driven by our ongoing aggressive cost actions and as Emerson remained at work around the world,” added Farr. “Overall orders and revenue declines were in-line with management expectations, as most end markets were heavily impacted by COVID-19.”

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    Related Breaking News

    • Breaking News | Financial News | RFID and NFC
      Emerson Reports 3Q 2021 Results

      Emerson Reports 3Q 2021 Results

      Net sales were $4.7 billion, up 20% from the year prior; free cash flow was $977 million, up 32%.
      08.05.21

    • Breaking News | Financial News | Manufacturers News | RFID and NFC | Sensors and Wearables
      Emerson Reports 2Q 2021 Results

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      Net sales for 2Q 2021 of $4.4 billion are up 6% from the year prior, with free cash flow of $707 million is up 48%.
      05.07.21

    • Breaking News | Financial News | RFID and NFC | Suppliers News
      Emerson Reports 1Q 2021 Results

      Emerson Reports 1Q 2021 Results

      Free cash flow was $686 million, up 121%.
      02.03.21


    • Breaking News | Financial News | RFID and NFC
      Emerson Reports 4Q, Full Year 2020 Results

      Emerson Reports 4Q, Full Year 2020 Results

      Full year free cash flow was $2.55 billion, up 6%, on sales of $16.8 billion.
      Printed Electronics Now Staff 11.06.20

    • Breaking News | Mergers and Acquisitions | RFID and NFC
      Emerson Acquiring Open Systems International, Inc.

      Emerson Acquiring Open Systems International, Inc.

      Software provides real-time management and optimization across the smart grid.
      Printed Electronics Now staff 08.28.20

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