|ST. LOUIS (AP) _ Emerson Electric Co. (EMR) on Tuesday reported fiscal first-quarter earnings of $392 million.|
On a per-share basis, the St. Louis-based company said it had net income of 61 cents. Earnings, adjusted for pretax gains, were 58 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The maker of process controls systems, valves and analytical instruments posted revenue of $3.82 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.72 billion.
Emerson Electric expects full-year earnings to be $3.05 to $3.15 per share.
Emerson Electric shares have decreased roughly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has declined almost 1 percent. The stock has risen 15 percent in the last 12 months.