News

Recently, Emerson announced its second quarter results for the fiscal year ending March 31, 20241, and updated its full-year forecast for fiscal year 2024. Emerson also announced that it will distribute a quarterly cash dividend of US$0.525 per common share to shareholders of record on May 17, 2024, with the payment date being June 10, 2024.

Second Quarter Fiscal Year 2024 Results Summary

Basic orders 2 decreased by 1% year-on-year

Net sales in the second quarter were approximately US$4.376 billion, a year-on-year increase of 17%, of which underlying sales 3 increased by 8%

Adjusted EBITA was US$41.139 billion, with a profit margin of 26%, a year-on-year increase of 140 basis points.

Adjusted earnings per share were $51.36, a year-over-year increase of 25%

Operating cash flow was US$757 million, a year-on-year increase of 32%

Free cash flow was US$675 million, a year-on-year increase of 32%

Emerson continued to maintain excellent operational execution in the second quarter, with underlying sales growth, profit growth, operating leverage and earnings all exceeding our expectations in the second quarter. Low-digit underlying order rate growth was in line with baseline expectations for the first half of fiscal 2024, supported by demand in process and hybrid end markets. Continued focus on operational execution instills confidence in our fiscal 2024 expectations.

Our second quarter results, particularly our gross margin performance, demonstrate the strength of our transformed product portfolio and Emerson Management Systems. We have the ability to continue to provide differentiated solutions to our customers and continue to create value for our shareholders.