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UPDATE 1-Emerson Electric's revenue beats estimates
February 4, 2014 / 2:15 PM / in 4 years

UPDATE 1-Emerson Electric's revenue beats estimates

Feb 4 (Reuters) - Emerson Electric Co reported higher-than-expected first-quarter revenue, helped by robust demand from China.

The diversified U.S. manufacturer of industrial controls, power supplies and home-storage equipment said net sales rose 1 percent to $5.61 billion from a year earlier, above the average analyst estimate of $5.55 billion.

The company’s earnings rose 2 percent to $462 million, or 65 cents per share, in the quarter ended Dec. 31.

Excluding acquisition-related costs, the company earned 67 cents a share, in line with analysts’ average expectation, according to Thomson Reuters I/B/E/S.

Emerson reaffirmmed its current-year adjusted earnings growth forecast of 4-7 percent. The company had reported adjusted earnings of $3.54 per share for 2013.

St. Louis, Missouri-based Emerson’s shares closed at $64.25 on the New York Stock Exchange on Monday.

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