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Software company Emerson Electric Co. (NYSE: EMR) on Wednesday reported higher net sales and adjusted earnings for the third quarter of 2024.
- Third-quarter net sales increased 11% annually to $4.38 billion from $3.95 billion last year; underlying sales were up 3%
- Earnings, on a reported basis, decreased 46% from last year to $0.60 per share in the June quarter
- Q3 adjusted profit was $1.43 per share, which is up 25% from $1.29 per share reported in the prior-year quarter
- For the full fiscal year, the company expects net sales to increase by around 15% from last year
- Full-year profit, including special items, is expected to be in the range of $2.82 per share to $2.87 per share
- The guidance for fiscal 2024 adjusted earnings per share is $5.45-$5.50
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