Emerson Electric Still Plans to Grow Through Acquisitions

By Imani Moise Features Dow Jones Newswires

Emerson Electric Co. didn't mention its recent failed take-over attempt of Rockwell Automation Inc. in its latest quarterly report, but the company still has its eyes on acquisitions over the next year.

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The company on Tuesday said it expects up to half of sales growth for next year to come from acquisitions. The St. Louis industrial conglomerate forecast sales growth of 8% to 10% in its 2018 fiscal year, with 4% coming from acquisitions.

Last month Rockwell said it rejected a sweetened offer from Emerson valued at $27.5 billion, or $215 a share. Rockwell, which generated $5.89 billion in revenue in 2016 compared with Emerson's $14.52 billion, said it was confident in its strategic direction and ability to continue delivering growth.

Emerson previewed its results last month and on Tuesday confirmed its fourth-quarter earnings of 83 cents a share on an adjusted basis and revenue of $4.44 billion. Shares, up 16% so far this year, were inactive during premarket trading.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

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November 07, 2017 08:36 ET (13:36 GMT)