Emerson Sales Down 0.3% in Fiscal First Quarter - Modern Distribution Management

Log In

Emerson Sales Down 0.3% in Fiscal First Quarter

Underlying sales grew 6 percent in first three months.
Author
Date

Emerson (NYSE: EMR), St. Louis, MO, reported sales for the first quarter ended Dec. 31, 2014, of $5.6 billion, a 0.3 percent decrease compared to the previous year, with underlying sales up 6 percent. Profit increased 11 percent to $529 million.

Demand was mixed across geographies and markets, with the U.S. up 8 percent and Asia up 2 percent, while Europe grew slightly as large projects offset pronounced short cycle weakness. Underlying sales were led by 17 percent growth in climate technologies, which benefited from U.S. air conditioning customers increasing inventory in anticipation of regulatory changes effective Jan. 1.

"The first quarter was a solid start to the year despite an increasingly uncertain and volatile macroeconomic backdrop," said CEO David N. Farr. "The strength of the U.S. dollar and rapid decline of oil prices present a challenging and unpredictable global operating environment."

Process management sales grew 3 percent, with underlying sales increasing 6 percent. Industrial automation sales were flat with underlying sales up 4 percent offset by unfavorable currency translation of 4 percent. Network power sales decreased 14 percent, as divestitures deducted 12 percent and currency translation deducted 3 percent. Climate technologies sales increased 15 percent, as U.S. air conditioning customers built inventory in the quarter ahead of regulatory changes. Commercial and residential solutions net sales increased 3 percent, with underlying sales up 4 percent.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.