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David Farr

Emerson 1st-Quarter Net Up 22%; CEO Sees Recovery in China

Emerson Electric Co. (EMR) said Tuesday it's seeing widespread improvement in the markets for its products, but the diversified industrial company continued to forecast that most of its 2013 profit will be generated in the first six months of the year.Emerson's fiscal first-quarter earnings rose 22%, largely on the strength of its process management segment, which has been the company's best-performing business unit in recent months. The St. Louis company backed its earlier profit forecast for fiscal 2013, calling for per-share profit of $3.53 to $3.63 for the year ending Sept. 30. Sales are forecast to grow 2% to 5% to $25 billion to $25.6 billion. Analysts expect the company to earn $3.59 a share on a 3% increase in sales.Chairman and Chief Executive David Farr said 70% to 80% of Emerson's income this year will be generated in the first two quarters, suggesting a significantly weaker second half. But Mr. Farr offered his most upbeat assessment of the company's end-markets in several ...

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