- NEW YORK: US conglomerate Emerson Electric reported a 17 percent rise in quarterly profit, meeting expectations, said industrial markets remain strong but are expected to soften, and kept its full-year forecast intact.
The maker of factory automation systems, power systems for data centers and wireless networks used in oil and gas production reported net earnings of $683 million, or 90 cents per share, in the third quarter ended June 30, up from $585 million, or 77 cents per share, a year earlier.
Revenue rose 16 percent to $6.29 billion.
Emerson’s peers include Europe’s ABB, Siemens and Schneider Electric. In factory automation, competitors include Rockwell Automation, while Eaton is a rival in the network power business.