Emerson Elec Co - EMR STOCK NEWS

Emerson (NYSE: EMR) reported flat GAAP net sales for Q1 2021, with underlying sales down 2%. Revenue exceeded November guidance, driven by strong performance in residential markets. North America sales fell by high single-digits, while Europe and Asia showed growth. Adjusted earnings per share rose 24% to $0.83. Operating cash flow increased by 90% to $808 million. Automation Solutions faced a 6% sales drop, yet Commercial & Residential Solutions saw a 13% rise. The company anticipates a slow recovery in industrial demand amid ongoing restructuring, with a full-year revenue growth forecast of 4% to 8%.

Emerson (NYSE: EMR) announces the retirement of CEO David N. Farr on February 5. Lal Karsanbhai, executive president of Automation Solutions since 2018, will succeed him as CEO and join the board. Under Farr's leadership, Emerson evolved into an industrial software leader with $16.8 billion in revenue. The company has consistently increased dividends to shareholders for 64 years. Karsanbhai, who has been with Emerson since 1995, aims to expand the company’s global software presence and support essential industries.

Emerson (NYSE:EMR) has been awarded the "IoT Analytics Platform of the Year" for its Plantweb Optics™ Analytics software, recognized in the 5th annual IoT Breakthrough Awards. This accolade highlights Emerson's commitment to improving industrial manufacturing through advanced analytics that leverage artificial intelligence and machine learning. Plantweb Optics enhances reliability and sustainability while optimizing production, potentially unlocking over $4 trillion in value for manufacturers, according to McKinsey. The software is part of Emerson's award-winning Plantweb™ ecosystem.

Emerson (NYSE: EMR) has announced that its 2021 annual shareholders meeting will be held virtually on February 2, 2021, at 10:00 a.m. (CT) due to COVID-19 safety guidelines. Shareholders of record as of November 24, 2020, can participate by using a 16-digit control number on the virtual meeting website. Non-shareholders can attend as guests but cannot vote or ask questions. Voting can be done in advance through the Internet, telephone, or proxy card, with previous proxy cards remaining valid for this meeting.

Emerson (NYSE: EMR) is set to report its first quarter results on February 2, 2021, before market opening. Following the release, senior management will host an investor conference call at 3:00 p.m. Eastern Time. Interested investors can access the live call and presentation slides through the Investors section of Emerson's website. A replay will be available for three months post-webcast.

Headquartered in St. Louis, Emerson provides innovative solutions in automation and residential markets, enhancing production, energy efficiency, and human comfort.

Emerson’s annual Global Users Exchange virtual conference showcases innovations aiding industrial manufacturers in 2021. The event focuses on digital transformation through case studies, offering insights on sustainability and enhanced operational efficiency. Participants can access 300+ sessions covering various themes like remote collaboration and personnel safety. Keynotes from industry leaders highlight improvements in energy management. The conference includes live and on-demand sessions and will return to in-person format later this year in Washington, D.C.

Emerson (NYSE: EMR) has been chosen by the Tennessee Valley Authority (TVA) to modernize its Magnolia power plant as part of TVA's $110 million investment plan to enhance digital technologies across its power generation fleet. This initiative aims to improve operations, cybersecurity, and training at the 980-megawatt facility, which generates cleaner energy. The project highlights Emerson's leadership in the power generation industry and is expected to be completed in 2022, ensuring reliable electricity for millions in the Tennessee Valley region.

Emerson (NYSE: EMR) has successfully acquired 7AC Technologies, a start-up specializing in innovative air conditioning solutions that promote energy efficiency and sustainable air management. This technology enables commercial building owners and retailers to manage humidity and temperature seamlessly. The membrane-based liquid desiccant system is modular and adaptable to different applications. Emerson's executive president highlighted its superior energy efficiency and air quality compared to existing products. This acquisition strengthens Emerson's position in the high-growth commercial air management market.