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 emphasizes the urgent need for organizations to enhance their cybersecurity measures amid increasing connectivity and vulnerability to cyber threats. Highlighting common missteps, Emerson advocates for a comprehensive cybersecurity risk assessment to identify and eliminate system vulnerabilities. Key recommendations include prioritizing cybersecurity initiatives, recognizing that no single solution can address all risks, and ensuring proper funding for cybersecurity programs. This proactive approach aims to safeguard control systems and maintain operational goals in an evolving threat landscape.
HITA, a Belgian geothermal energy company, has partnered with Emerson (NYSE: EMR) to enhance the discovery and development of geothermal energy sources in Northern Belgium. Emerson's geological and reservoir modeling software is set to improve the safety and reliability of these projects by accurately identifying suitable drilling locations. The geothermal energy market in the EU is projected to grow significantly by 2050, driven by climate change policies. This collaboration aims to facilitate sustainable energy production through advanced modeling techniques.
Emerson (NYSE: EMR) reported Q1 fiscal 2022 results, showing strong demand with underlying orders up 17%. Net sales reached $4.5 billion, an 8% increase year-over-year. GAAP EPS soared 103% to $1.50, while adjusted EPS rose 13% to $1.05. The company updated its full-year outlook, anticipating 6-8% net sales growth. Despite operational challenges, operating cash flow was $523 million, although down 35%. The Automation Solutions platform performed well, with orders up 19% and EBIT margins improving. A quarterly dividend of $0.515 per share was declared.
Emerson (NYSE: EMR) announced that its Sensi™ Touch smart thermostat won the 2021 Integrated Home Competition by AHRI. This ENERGY STAR® certified product can help homeowners save up to 23% on HVAC energy usage through features like geofencing and flexible scheduling. Emerson aims to meet the growing consumer demand for sustainable solutions with its smart thermostat, which is compatible with major smart home platforms. The award recognizes Emerson's commitment to energy efficiency and innovative design in the HVAC sector.
Emerson has been awarded the title of ‘Industrial IoT Company of the Year’ by IoT Breakthrough for the fourth time in five years. This recognition, amidst nearly 4,000 nominations, highlights Emerson's commitment to innovation in industrial automation and software, helping customers meet sustainability goals. The company’s Plantweb™ ecosystem and extensive IIoT technologies are enabling significant operational improvements across key industries, including power and energy.
Emerson (NYSE: EMR) will conduct its 2022 annual shareholders meeting virtually due to COVID-19 concerns. Scheduled for 10:00 a.m. (CT) on February 1, 2022, the meeting will allow shareholders recorded by November 23, 2021 to participate, vote, and ask questions through a virtual platform. Non-shareholders may attend as guests but cannot vote or ask questions. Shareholders can vote in advance or on the meeting day using their control number. More details are available in the Proxy Statement and on the virtual meeting site.
Emerson (NYSE: EMR) will announce its first quarter results on February 2, 2022, prior to market opening. A conference call is scheduled for 9 a.m. Eastern Time to discuss the results, which can be accessed via Emerson's investor website. The company specializes in delivering technological solutions for various markets, enhancing production, energy efficiency, and safety.
Emerson is advancing technology for large-scale offshore green hydrogen production, collaborating on the PosHYdon project in the Dutch North Sea. This pilot aims to showcase the integration of offshore wind and hydrogen production on a gas platform, using green electricity to convert seawater into hydrogen via electrolysis. The project, supported by a €3.6 million grant, expects to produce three tons of hydrogen weekly. Emerson's DeltaV systems will ensure operational safety and efficiency throughout the process.
Emerson (NYSE: EMR) has acquired Mita-Teknik in an all-cash transaction, enhancing its capabilities in the wind power generation market. Mita-Teknik, founded in 1969, specializes in control automation for wind turbines, with over 60,000 installed systems globally. This acquisition complements Emerson's control systems and supports digital transformation and sustainability goals for power generation. It positions Emerson to better serve the growing demand for renewable energy solutions.
Aspen Technology (AZPN) has announced the expiration of the waiting period under the Hart-Scott-Rodino Act and received antitrust clearance from the Austrian Federal Competition Authority in relation to its proposed acquisition by Emerson (EMR). This marks significant progress towards finalizing the transaction initially disclosed on October 11, 2021. However, approval from AspenTech shareholders and further antitrust clearances in Russia and South Korea remain necessary. The deal's closure is anticipated in the second quarter of 2022.