By Will Feuer
Emerson Electric Co. posted higher fiscal fourth-quarter sales despite headwinds from the strong dollar as strength in the Americas lifted results.
The St. Louis-based technology and engineering company posted earnings of $740 million, or $1.24 a share, for the three months ended Sept. 30, compared with $670 million, or $1.11 a share, in the same period a year earlier.
Stripping out one-time items, including restructuring costs, adjusted earnings came to $1.53 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $1.39 a share.
Revenue rose 8%, to $5.36 billion, from $4.95 billion. Analysts surveyed by FactSet were expecting revenue of $5.34 billion.
The company said underlying sales, which strip out the effects from currency translations as well as acquisitions and divestitures, rose 12%.
Sales in the Americas rose 17%, while Europe rose 3% and Asia, Middle East & Africa posted a 7% increase in sales. Sales in China rose 9%, the company said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
10-31-22 0731ET