David Savastano, Editor05.07.21
Emerson reported excellent results 2Q 2021 ended March 31, 2021, with its operating cash flow of $807 million up 37% and free cash flow of $707 million up 48%.
Net sales for 2Q 2021 of $4.4 billion are up 6% from the year prior. Revenue for the quarter was ahead of management's February guidance, with both business platforms finishing above expectations.
Second quarter gross profit margin of 42% was down 10 basis points from the previous year. Operating cash flow was $807 million for the quarter, up 37%, and $1.6 billion year-to-date, up 60%. Free cash flow was $707 million, up 48% for the quarter.
“We have two major concurrent themes building momentum within the organization,” said Emerson President and CEO Lal Karsanbhai. “First, the enthusiasm and progress around modernizing our culture is palpable, particularly with regard to diversity and inclusion, work practices, and talent management.
"Secondly, economic recovery momentum is building across most of our key end markets, which resulted in better than expected top line results this quarter,” added Karsanbhai. “Trailing three month underlying orders ended on the high side of the guided range, and underlying sales came in above guidance – a strong signal for broadening recovery. Lastly, we are accelerating investment in innovation and key technologies that drive differentiation, create value for our customers, and are aligned with global macrotrends such as sustainability and digital transformation."
Net sales for 2Q 2021 of $4.4 billion are up 6% from the year prior. Revenue for the quarter was ahead of management's February guidance, with both business platforms finishing above expectations.
Second quarter gross profit margin of 42% was down 10 basis points from the previous year. Operating cash flow was $807 million for the quarter, up 37%, and $1.6 billion year-to-date, up 60%. Free cash flow was $707 million, up 48% for the quarter.
“We have two major concurrent themes building momentum within the organization,” said Emerson President and CEO Lal Karsanbhai. “First, the enthusiasm and progress around modernizing our culture is palpable, particularly with regard to diversity and inclusion, work practices, and talent management.
"Secondly, economic recovery momentum is building across most of our key end markets, which resulted in better than expected top line results this quarter,” added Karsanbhai. “Trailing three month underlying orders ended on the high side of the guided range, and underlying sales came in above guidance – a strong signal for broadening recovery. Lastly, we are accelerating investment in innovation and key technologies that drive differentiation, create value for our customers, and are aligned with global macrotrends such as sustainability and digital transformation."
