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Emerson Electric Co. reports developments for a global automation business focused on industrial software, control systems, measurement, valves, and related automation technologies. Company news regularly covers quarterly results, outlook updates, dividends, investor presentations, board changes, and portfolio actions tied to its automation-focused operating model.
Product and customer updates include AspenTech industrial software and AI capabilities, the DeltaV™ and Ovation™ Automation Platforms, cybersecurity collaborations for operational technology environments, and automation work for power, water, renewable energy, carbon capture, and other critical infrastructure applications.
Emerson (NYSE: EMR) collaborates with Purdue University on an innovative residential energy project called the Nanogrid House. This living lab focuses on transitioning home energy systems from alternating current (AC) to direct current (DC), allowing homeowners to utilize renewable energy sources like solar and wind. The project aims to reduce carbon emissions by 55% and lower energy costs by up to 44%. Emerson's Ovation™ technology automates energy management, showcasing a sustainable model for future energy-efficient homes.
Korea Hydrogen Green Energy Network (KOHYGEN) has partnered with Emerson (NYSE: EMR) to enhance hydrogen refueling infrastructure, marking a significant step in reducing emissions and advancing a net-zero economy. The collaboration follows the completion of the world's largest hydrogen refueling station, designed to efficiently fuel over 100 vehicles daily. Emerson will provide advanced automation technologies essential for creating high-capacity refueling stations across Korea. This initiative aims to establish a stable hydrogen supply chain, expanding services to diverse transportation modes by 2025.
Emerson (NYSE: EMR) has appointed Peter Zornio as its new chief technology officer. Zornio, previously CTO for Emerson’s Automation Solutions business, will focus on driving innovation, technology strategy, and product development across the company. His role will include leading central R&D functions and shaping the overall technology portfolio. Emerson President and CEO Lal Karsanbhai emphasized that Zornio's extensive experience will be crucial for the company's transformation and growth in industrial automation. Zornio will also remain on the board of Emerson Ventures.
Emerson (NYSE: EMR) will share presentation materials from its investor conference on November 29 at 7:15 a.m. CT. A live webcast starts at 8:00 a.m. CT, featuring insights from President and CEO Lal Karsanbhai and senior executives. The webcast will be accessible for 90 days post-event. Emerson, a global technology and software leader, focuses on providing innovative solutions to optimize operations for essential industries, highlighting its automation expertise and majority stake in AspenTech.
Emerson has entered into a five-year framework agreement with Equinor to provide operational support services for the Martin Linge platform in the Norwegian North Sea. The agreement includes options for three additional five-year periods and focuses on maintenance, upgrades, and operational efficiency to reduce energy consumption and emissions. The platform is significant, with expected recoverable resources of approximately 260 million barrels of oil equivalent.
Emerson (NYSE: EMR) is set to conduct an in-person and virtual investor conference on Tuesday, Nov. 29, 2022, in New York City. This event will feature presentations from President and CEO Lal Karsanbhai and other senior executives, starting with a live webcast at 8:00 a.m. Central Time / 9:00 a.m. Eastern Time. Interested attendees can register for the webcast at Emerson's investor resources page, where the webcast will remain available for 90 days.
Emerson (NYSE: EMR) has signed a memorandum of understanding with Origin Materials (NASDAQ: ORGN) to provide advanced automation technologies for Origin's upcoming manufacturing facility, Origin 2, in Geismar, Louisiana. This facility aims to convert 1 million dry metric tons of wood residues annually into carbon-negative materials. Origin's innovative platform targets a market exceeding $1 trillion, focusing on sustainable products like PET plastics.
Expected to be operational by 2025, the Plantweb digital ecosystem will enhance production efficiency and support the transition to low-carbon manufacturing.
Emerson (NYSE: EMR) has finalized the sale of its InSinkErator® division to Whirlpool Corporation (NYSE: WHR) for $3.0 billion. InSinkErator is the largest manufacturer of food waste disposers and instant hot water dispensers globally, founded in 1938 and acquired by Emerson in 1968. The acquisition enables Whirlpool to enhance InSinkErator's legacy and growth potential. Emerson focuses on providing innovative solutions in essential industries, while Whirlpool aims to be the leading global kitchen and laundry company.
Whirlpool Corporation (NYSE: WHR) has completed its acquisition of InSinkErator from Emerson (NYSE: EMR), the leading manufacturer of food waste disposers and instant hot water dispensers. The acquisition aims to enhance Whirlpool's portfolio and is expected to immediately boost margins, contributing approximately $1.25 EPS in fiscal 2023. InSinkErator will function as a separate entity under Whirlpool's North America Region while maintaining its headquarters in Mount Pleasant, Wisconsin. The company anticipates revenue growth through expanded market presence and leveraging InSinkErator's established brand.
Emerson reports Q4 net sales of $5.4 billion, a rise of 8% year-over-year, with underlying sales up 12%. Full-year net sales reached $19.6 billion, also up 8%, while GAAP EPS increased by 12% to $1.24 for Q4 and surged 42% to $5.41 for the full year. Operating cash flow for Q4 was $1.2 billion, a 42% increase. The company announced the closure of its InSinkErator divestiture and plans to report Climate Technologies as a discontinuing operation starting in 2023. Projected earnings from these operations for 2023 are expected to be between $10 billion and $11 billion.