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) 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.
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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.
The board of directors of Emerson (NYSE: EMR) has declared a quarterly cash dividend of $0.505 per share. This dividend will be payable on December 10, 2020 to stockholders on record as of November 13, 2020. Emerson, a leading global technology and engineering company based in St. Louis, Missouri, offers innovative solutions across various markets, including industrial and residential sectors. The company focuses on optimizing production, ensuring safety, and enhancing energy efficiency.
Emerson (NYSE: EMR) reported a decline in fourth-quarter net sales of 8%, with underlying sales down 9%. The company faced demand challenges, particularly in North America. Commercial & Residential Solutions saw a 6% growth in orders, while Automation Solutions struggled, reporting an 11% decrease in net sales. The quarterly gross profit margin fell to 41.3%. Despite these challenges, the company maintained strong operating cash flow of $1.23 billion. Looking ahead, Emerson expects 2021 revenue growth between 1%-4% and plans to resume share repurchases between $500 million and $1 billion.